Employers are still facing the challenge of needing to do more around benefits with fewer funds.
Speaking in a session on ‘Building the business case for benefits’ at Employee Benefits Live 2014, Nadeen Jackson Barker, HR reward manager at Axa, said employers have to balance the aspects of benefits that are important to employees, which include variety, accessibility and availability, and those that are important to employers, such as value, suitability and affordability.
Almost 80% of Axa staff actively use the organisation’s online benefits portal, which has resulted in £1.4 million in savings for employees since it was launched in September 2009.
The portal, which includes more than 1,300 employee discounts and offers, as well as tax-efficient benefits offered via salary sacrifice arrangements, has also contributed to a 42% increase in employee engagement scores since its launch.
“Our communication strategy has been instrumental to the benefits scheme,” said Jackson Barker.
Axa’s communications included an online personal account to measure savings, employee testimonials with supporting photographs and time-specific campaigns, such as additional benefits at Christmas.