Equiniti scoops award for Best Flexible Benefits Strategy at the 2015 VIB awards

Wed 20 May 2015

Recognition for in-house Flexible Benefits offering to diverse workforce

Equiniti was announced winner of the ‘Best Flexible Benefits Strategy’ at the inaugural VIB (Very Important Benefits) awards in Edgbaston last week. Chosen out of 3 companies short-listed for the award, Equiniti were recognised for its considered approach throughout 2014 to enhance and develop its Flexible Benefit offering to its diverse workforce.

2014 saw the launch of Equiniti’s new Flexible Benefits platform which combined the two heritage platforms previously being used separately across the company. The alignment of the two heritage systems onto a new, single technology platform delivered a continuity across the group and allowed a business wide strategy review of Flexible Benefits to include harmonisation and increased employee engagement.

The over-arching award is recognition for the hard work of not only the flexible benefits team, but Equiniti’s HR department as a whole and demonstrates Equiniti’s ability to not only be a benefits provider, but also to offer advice and guidance on the best use for employees. Tim Brook, Senior Benefits Consultant at Equiniti, said “We are delighted to be recognised for our benefits strategy in which a lot of hard work has gone into developing. Combining a long term strategy with our experience and expert knowledge in the Flexible Benefits industry puts us in a fantastic position to continue providing a compelling reward package that meets our employee’s needs.”

Equiniti has circa 2,800 employees, widely dispersed across the UK in over 25 locations and over 60 different sets of Terms & Condition’s through various heritages across the Group. In order to create a scheme that met as many people’s needs as possible, Equiniti’s strategy was to examine the demographic and behaviour of employees, as well as looking at the culture of the company as a whole.

This resulted in an extensive review of all benefits to analyse how they were performing based on detailed management information to ensure they were valid for continuation in the offering. An employee survey was carried out after the launch to get feedback on the new platform and benefit offering to assess employee engagement and communication levels. This enabled Equiniti to develop a more long-term strategy towards its benefits scheme rather than the typical short-term view and helped to identify potential new benefit offerings.

The engagement results show that the requirements for Flexible Benefit products are evolving with the times and technology and other lifestyle benefits are proving to be key to the future of Equiniti’s Flex scheme.