BNP Paribas uses its annual flexible benefits enrolment window in early December to keep employees engaged over the Christmas period, rather than creating a specific incentives package.
Sarah Oxford, head of compensation, benefits and international mobility at the French-headquartered bank, says taking a more general approach to the festive season and any potential employee concerns is better suited to its workforce.
“I would like to run workshops to help [employees] better manage their money, but it’s a very private matter, which is why a low-level communications strategy to let [employees] know what is out there subconsciously gets them thinking about their issues,” she says. “You have to consider that some employees do not celebrate Christmas.”
Core benefits that BNP Paribas offers employees via its flex scheme include a pension, private medical insurance (PMI), death in service, group income protection (GIP), holiday trading and health screenings. Staff have a two-week window between late November and early December to make their benefit choices.
Oxford uses usage statistics from the company’s employee assistance programme (EAP) to ascertain employees’ concerns each quarter, which help to tailor the communications strategy that is launched each September.
She says: “This year, [employees] are not asking for financial or stress support. For now, they are a pretty happy bunch.”
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