International law firm Trowers and Hamlins launched an online benefits platform last year after previously offering a paper-based flexible benefits scheme.
The firm employs more than 700 people in the UK, Abu Dhabi, Bahrain, Dubai, Egypt and Oman. Following the launch of the new scheme, provided by Thomsons Online Benefits, Trowers and Hamlins measured several elements to test its effectiveness. The financial results showed a £97,000 annual reduction in the firm’s national insurance contributions, and there was also a £33,000 reduction in annual benefits administration costs. Take-up was measured in the company’s separate regions. Data revealed a 33% take-up rate in the UK and a 400% increase in international offices.
Trowers and Hamlins also ran a staff survey to gauge how the scheme was received, which found that 60% of employees agreed they perceived an increase in their remuneration as a result of the scheme, and 79% agreed that they now have a better understanding of their benefits package.
Paul Robinson, HR director at Trowers and Hamlins, says that measuring the scheme’s effectiveness demonstrated that the company had achieved its goals. “As well as the benefits, we have seen improvements in recruitment and retention, and the scheme has also delivered considerable cost savings for the firm,” he says.
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