Bank of America is to extend its flexible benefits scheme to Canada and Ireland to cover employees and new staff who have joined the group as a result of the takeover of credit card company MBNA last year.
The scheme, which was rolled out to all UK employees in September last year, includes benefits such as private medical insurance (PMI), health screening, out-of-office learning activities, and discounted products such as gym membership. Employees’ choice of benefits will come into effect on 1 January 2007.
Stuart Revill, benefits manager, explained that employees’ health and wellbeing is a key focus for the bank. “Obviously, we want to encourage our employees to remain as healthy as possible, so we are ensuring that the benefits we offer promote health and wellness both within and outside work,” he said.
Although there are no current plans to add any new benefits to the flex scheme, the financial firm intends to regularly review it’s offering.
“We shall review the benefits in all relevant countries annually and respond to feedback from our periodic employee surveys so we can offer appropriate benefits choice to our staff and their families,” said Revill.
He added that the bank expects to continue introducing its flex package to its overseas operations, and has earmarked Spain for a roll-out in January 2008. However, it has no plans to introduce such a scheme in the US.