Case study: Mace builds perks despite slowing markets
Construction consultancy Mace is continuing to bolster the benefits that it offers for staff, despite the tightening economic conditions.
So far this year, it has already increased its employer pension contributions by one percentage point, introduced a cycle-to-work scheme and added one extra day of holiday per year for community work.
Kath Knight, group human resources director, says that pay would bear the brunt of any necessary cuts rather than benefits. “There are some indications that things are slowing down slightly, but this has not had a great deal of impact so far. I think the impact would be a slow down in the rate that salaries have been increasing, rather than more drastic measures.
“It would be very short sighted of employers to use a downturn to reduce the benefits that they provide. It takes a lot of effort to engage and motivate employees but it is easy to demotivate,” she explains.
The organisation’s benefits package also includes two duvet days a year, life insurance, private medical insurance, and unpaid career breaks after three years’ service. Last year, the company also added annual medical check-ups for staff.
Knight believes Mace will continue to improve its package. “Over the past two or three years, we have steadily been increasing the range and level of benefits we provide for staff.
“In our annual satisfaction survey, we ask for feedback on many areas including what [staff] think of our benefits, and ask for suggestions for improvements. This way, we can try to tailor our package to reward staff in a way that suits their needs,” she says.