Unum has introduced new perks to its flexible benefits scheme, including financial education with the Money Advice Service, annual health screening, Tastecard membership, and employee discounts.
The insurance firm has offered a flex scheme, provided by Enrich Employee Benefits, for three years. It added the new perks during its annual enrolment in July. It also upgraded to a new online system.
Employees had requested the new benefits, particularly the annual health screening, provided by †Bupa, which had traditionally only been offered to the firm’s directors.
Unum’s 1,000 UK employees can access the health screening via a salary sacrifice arrangement. The additional employee discounts include 20% off Vodafone products, and savings on new and used cars from Lloyds TSB.
Access to the Money Advice Service website, and one-to-one financial education sessions, are available to staff for advice on pensions, retirement, mortgages, and managing their finances.
Communications on the additions began in June with benefits roadshows at Unum’s three locations. The firm also introduced a benefits booklet that was desk-dropped to staff, and included a free Tastecard trial. At the roadshows, providers were onsite to answer queries and Enrich Employee Benefits demonstrated the new website.
Sophie Sheppard, reward and HR advisor at Unum, said: “The roadshows were really well attended. We got lots of feedback about having all the benefits providers there so staff could get direct answers to their queries.”
The roadshows have helped to increase take-up in the firm’s stakeholder pension scheme, increasing take up from 59% to 65%. Employees were reminded that Unum puts 5% in as a minimum, and matches employee contributions up to a further 10%.
Sheppard added: “A lot of staff did not realise they were missing out on this. Employees that have traditionally opted out have gone into the scheme this year.”
Since the launch, 86% of staff have accessed the benefits website and 76% have submitted choices.
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