Case study: Nationwide looks to choice
Nationwide Building Society optimises the value of its benefits package by keeping its offering fresh for staff and promoting certain perks at key times.
When communicating benefits during its flex enrolment period at the end of last year, for example, it focused attention on the discounted retail shopping vouchers offered through the scheme to help staff recognise the savings that are available. Rosemary Crabb, flexible benefits manager, says: “With the credit crunch affecting everyone’s budget, we expect to see even more employees taking this up.” In 2006, the organisation researched the possibility of segmenting its workforce to determine which perks are key to individuals and groups, but decided not to progress this further. “We ensure employees have the flexibility to choose the benefits that really matter to them,” says Crabb. “Being able to select from a wide range of options means they can tailor their package to suit their needs.”