Posted on: Tuesday March 13, 2018
Getting More Benefit Bang for your Buck
Sometimes despite the best of intentions, budget restrictions mean that HR cannot implement their preferred benefits programmes. But if you want to retain and recruit the best employees, you need to provide a compelling employer value proposition that makes you stand out as a desirable employer – and your benefits package can help with this.
But benefits are so much more than perks and cinema discounts, or even free flu jabs. Employers need to implement a benefits strategy where the benefits are meaningful and appeal to each member of staff. The real challenge comes as HR need to communicate these in an effective way to drive participation as well as ensuring the benefits programme has an equally positive impact on both the individual and organisational wellbeing.
Personal Group has worked with several NHS Trusts to deliver tangible improvements to employee retention and engagement as well as helping to reduce spend and create cost neutral programmes.
Three key areas of NHS spending and how Hapi can help:
1. Hospitals are having to pay around £10 for each payslip they send out.
One of the easiest ways to make savings is to go digital. Digital systems are usually much less time consuming, and easier to use. The Hapi platform contains the ability to produce online payslips, which, once produced, can be accessed by employees at any time. Payslips are automatically branded when uploaded, display the employee’s payments, deductions, year to date and current period, and can be modified for weekly or monthly pay cycles. There is also the option to include total reward statements, so staff can see the overall value of their financial rewards such as base pay, incentives and employee benefits!
2. NHS computing costs range from £300,000 to more than £2 million per £100 million of turnover.
Hapi contains an integrated internal communications system, which negates the need for a separate communications program.
As Hapi is available as a downloadable app, it also provides the ability to utilise push notifications, which can be used by employers to alert staff to the availability of new benefits, company announcements, or as reminders of company events. As much as we would like to think they do, not every member of staff reads company emails or views the intranet. They might not have the time, patience or even the equipment to allow them to see what is going on in the business. Company emails are no longer as reliable but what you can count on is that most of your staff will have a mobile phone. Sending bite sized pieces of information or alerts straight to their mobile phone will help to keep them in the loop and show that you care.
3. Hospitals human resources management costs range from £500,000 to £1.5 million.
Hapi also contains a cloud-based management information reporting tool, which further reduces the number of programmes which need to be purchased. ‘Hapi Hub’ gives you the ability to see which benefits are the most engaging, and which employee services are most in demand. This allows you to tailor your benefits promotions and drive user adoption. Your Hapi Hub dashboard shows system usage and activity trends, employee spend and the savings they’ve made as well as employee and manager feedback and EAP usage.
You can also create employee surveys from within the Hapi Hub and send push notifications to users of your employee engagement app. With external survey companies charging between £10,000 and over £100,000 for a staff survey having the flexibility to create these yourself, with the ability to target and segment respondents by site, role or seniority, can provide significant cost savings.
Additionally, Let’s Connect, which is part of Personal Group, provide an innovative home technology salary sacrifice scheme via the platform, enabling staff to obtain the latest technology in a more affordable manner. By doing this, even with the recent changes to HMRC salary sacrifice rules, the NHS can neutralize the cost of the entire engagement platform through employer pension savings from the technology scheme – a ‘win – win’ situation for both employee and employer.
There are so many other ways that your organisation can make the most of any size benefits budget. These are only a handful of ways you can rethink benefits and stop seeing them as a drain or hindrance. With careful planning, useful insights and a team of willing benefits champions, you will be sure to create a happier, engaged and more productive workforce.