The Pensions Trust, Rewards and Benefits Programme
A key part of this entrant’s people strategy is what it describes as the deal between the employer and the employee. This refers to what it means to work for The Pensions Trust and the benefits of the employment relationship for both parties. A total reward strategy has been used to create an engaging working environment and ensure employees are proud to work for The Pensions Trust.
This entrant has split its benefits package into four sections: pay, benefits, people development and working environment. Each of these has then been identified as tangible or intangible, as well as collective or individual.
When it comes to analysing the impact of individual aspects of its reward package, The Pensions Trust views good basic pay and benefits as essential to develop employee engagement. Directors are offered annual discretionary bonuses based on the overall performance of the business and their individual contribution.Other employees are entitled to a bonus as their performance merits it.
A large number of other benefits other than bonuses are affected by an employee’s performance at work. For example, some of the organisation’s work-life balance benefits are linked to employee performance and engagement.
An important aspect of the workplace environment, cited in the organisation’s total strategy as an intangible and collective benefit, is manager behaviour. In 2011, The Pensions Trust is adopting a management charter to identify aspects of managers’ knowledge, skills and attitudes that encourage engagement. One judge said: “This is an almost textbook example of linking a business strategy with a business strategy into a motivation strategy.”
The Pensions Trust was also commended for providing a generous benefits package and working well within its limits.
Volvo, The Hub entered by P&MM
Volvo’s scheme focused its sales teams on selling higher-end cars and increasing the number of car accessories sold. A branded website allowed sales reps to claim, track and redeem their rewards.
British Gas Same Day Spin
This tactical incentive reward scheme saw agents play an online ‘spin the wheel’ game if they made a single sale of a heating product, or reached specific sales targets in sales channels.
DHL I’m First Choice entered by Edenred
DHL’s scheme aligned reward and recognition with customer satisfaction, focusing on performance, teamwork, innovation and improvement, finance and corporate social responsibility.
Jumeirah Luxury Hotels and Resorts, London, Shining Stars
This entrant’s instant reward scheme, Shining Stars, enables managers to recognise excellent work on the spot. Awards range from a simple thank-you to reward cheques to buy gifts.
This entrant set out to engage staff by involving them in the excitement of gambling, setting up a Ladbrokes shop in its head office canteens for employees to place virtual bets to win prizes.
Nationwide Building Society, Recognising the Difference
Nationwide renewed its recognition scheme in 2010, giving managers a budget to make awards to staff at a local level. Winners are put forward to Nationwide quarterly and annual awards.
Read more about the Award winners