Lloyds TSB undertakes benefits communications audit

Lloyds TSB has begun a four-month long investigation into how it communicates its benefits package to staff.

As a number of its benefits are currently offered under different branding, it is concerned that its existing communications strategy could be confusing for employees to understand. Its company cars, flexible benefits scheme, voluntary benefits plan and occupational pension, for example, are all branded differently.

Elizabeth Yates, manager of compensation and benefits at the bank, said: “We have different brands that sit with different benefits and we are simply looking for something that will bring it all together and make it more comprehensible.”

The process, which began last month, will first examine the methods that are used to explain benefits to staff. This will be followed by a communications audit, which will be carried out by a team of external business psychologists and will look at the most effective ways of reaching Lloyds TSB’s staff with benefits messages.

“We want to look at how we actually communicate, then see what we need to do and what problems we have to overcome,” said Yates.