Working in a competitive sector, financial organisation BNP Paribas UK knows it needs to have a compelling benefits proposition to compete for and retain talent.
The organisation offers employer-paid private medical insurance (PMI) to all employees and their families, and has adopted a similar approach to dental cover. Thomas Hiles, group benefits manager, says: “Within our legal structure in the UK, we have a lot of businesses in very diverse areas. Having paid-for dental cover is less common outside of London but, even within the investment banking community, it’s unusual to have it as core.”
BNP Paribas offers all its employees the second-highest package available through Bupa’s scheme, and gives employees the ability to upgrade to the top level should they choose to. It has also negotiated a bespoke policy with Bupa, which allows employees to access major treatment without having to wait for the standard period after joining the business.
As well as being able to identify and treat any dental issues, regular check-ups could also identify other issues that may require treatment under the PMI scheme, says Hiles. “Things such as teeth grinding are common for many people in our sector, and that is often quite an easy identifier of stress,” he says. “A good dentist can also often spot other changes in people, so it could help the private medical plan by picking up claims earlier.”
The organisation uses the scheme as a recruitment and retention tool, particularly when looking to attract people from overseas where state dental provision may be superior to that provided in the UK. “It’s definitely a benefit we wouldn’t be able to remove,” he says.