Chrysalis fends off rivals

Chrysalis has introduced a flexible benefits scheme to prevent rival firms poaching its staff. The company, which has interests in radio, music and books, lags behind other industry players in terms of salaries, but hopes to hold staff’s attention with a sleek perks package. Craig Warden, HR director at Chrysalis, said: "We are being attacked by larger companies who have obviously got bigger salary budgets to lure our staff. "If you look at Crysalis’ competitors – firms like Capital, GWR and Emap – they all have bigger radio concerns than us and financially they have a lot more salary power in the market than us. We’ve always had to work that bit harder to capture key talent." He added that the scheme, which was introduced in January, has also saved the company money. "Things like pensions and health insurance didn’t tend to rate very highly [before]. The company offers four times the annual salary in life assurance but people are saying ‘I’m young and single; I don’t really need that." The flex plan, introduced by online provider 4th Contact, includes benefits such as childcare vouchers, home computers as well as a range of insurance.