Allianz offers a flexible premium
Insurance giant Allianz has offered employees its Spree Flex card – a pre-paid Mastercard giving discounts at selected high-street stores – through its flexible benefits scheme since November 2007.
The card does not replace high-street discount vouchers, which staff can still obtain through Allianz’s voluntary benefits scheme, but the firm wanted the pre-paid debit card to give employees extra flexibility in buying goods and services.
Steve Tickle, senior HR manager at Allianz, says: “If [staff] are going to buy any large items – for example, if their washing machine breaks – sometimes sending off for vouchers can be a bit of an inconvenience.”
The card is branded with Allianz’s corporate colours and company logo.
“We wanted it to be seen as a benefit provided by the company for individuals,” says Tickle. “At the time of doing it, we were one of the first to use Spree Flex.”†
He says it is hard to judge the card’s impact on staff morale and engagement, although take-up has increased.†
This year, 52% more cards were issued than last year.
A Mori poll that Allianz conducts every year to gauge staff feedback has also shown a consistent improvement in employee engagement with benefits over the past five years.
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