Towry looks to effective providers for benefits

One of the biggest issues for in-house benefits teams is that they don’t know how effective a benefits provider or supplier is until they start working on a project, says Richard Higginson (pictured), head of reward at financial advice and investment management firm Towry.

Higginson has learned this the hard way, having endured a bad experience with a pensions provider handling the transition to auto-enrolment.

Richard Higginson Towry Law 2009

“It told us they had this fantastic new automated computer system, but eventually confessed that somebody at its end would manually type all the data into the system,” he says.

“That meant it had a 10-day turnaround time on it, which took it beyond our pay date each month. There was no way we could ever get anybody’s contributions paid on time.”

Higginson is currently looking at introducing a company car scheme, but admits to concerns over the time involved in running it. “If it is more than minimal, then it’ll be a no-go, because we don’t have the resources for it,” he says.