FLEXIBLE BENEFITS
Vantis flexes benefits for its finance staff
Vantis, a UK top 15 business advisory group, has launched an online flexible benefits programme using 4th Contact's secure online technology for its financially astute employees.
The flex initiative has been launched initially for the existing 600-strong workforce. A further 380 staff, who have recently joined the company through acquisitions, will be invited to participate in the scheme in 2006.
4th Contact's flexible benefits technology has helped simplify a complex benefits process developed after 12 Group acquisitions.
Business acquisitions
Vantis has experienced a period of radical change since the group was formed in 2002, acquiring 12 new businesses. Steve Field, group compensation and benefits manager, explains: "Each acquisition brought with it a legacy of entitlements which means that the HR processes involved in benefit management were complex because of the variety of benefits on offer. By providing flexible benefits to all our staff, we are providing a level playing field for everyone, and any new employees will have the opportunity to enjoy similar benefits to their colleagues."
Paul Watson, CEO of 4th Contact, added: "Vantis had a particularly complex benefits offering because of its acquisitional processes, so it made strong business sense to make the benefits programme equitable to all by implementing flex."
The other prime reason to implement the flex scheme was to fulfil a promise Vantis made to employees. For some time, employees had expressed the desire to choose benefits to suit their own lifestyles.
System security
Vantis says that it chose 4th Contact because it needed a flexible web-based portal. System security was also a deciding factor. As Steve Field explains: "Security was key to us. If we are going to ask our people to input and access personal information, we needed to be sure we could happily recommend the system. We were very satisfied by 4th Contact’ s system structure and how people gain secure access."
Vantis also needed to work with a technology provider that could dovetail with Vantis’ own team, not least its independent financial advisors who created the benefits offering.
Flexible benefits include pension, life assurance, dental insurance, PMI, holiday, childcare vouchers and home computers.
The 4th Contact technology is integrated with Vantis’ existing HR system to reduce the administrative workload. Employees can also use the 4th Contact system to link into benefit provider web sites to help answer any queries they may have.
Want to know more?
Vantis plc is an AIM listed business advisory group that specialises in helping business people improve the performance of their businesses. The Vantis group offers a range of specialist skills, including business advisory, accountancy, taxation services, business recovery, turnaround, customs duty recovery and advisory services, sports advisory and management services, outsourcing, corporate finance, asset finance and independent financial advice. It employs more than 980 staff operating from 17 locations throughout England. For more information visit www.vantisplc.com
4th Contact is a "leading provider of flexible benefits and total reward technology". Its customers include The Chrysalis Group, Fujitsu Telecommunications Group, HMV, Hasbro, London Stock Exchange, T& F Informa and the Volkswagen Group. For more information, please visit www.4thcontact.co.uk
Posted 6 January 2006