Insights On SIP Article

New Insights On SIP Take-Up

28 July 2021

Our long-standing Power BI dashboard for SAYE plans is now also available for managing your share incentive plans (SIPs).

You can access all the information you require to make the best, proactive share plan decisions for your organisation and your people.

Insights On SIP Article3 (1)

You’re in a meeting and up pop the questions. How is the SIP looking? How is take-up compared to last year? Where is there room for improvement? They’re all important questions and the wonderful thing is that you can have the answers to all them, and more, at your fingertips.

At EQ, we’ve already brought these insights to our SAYE share plans. Our clients have user-friendly access to detailed data, showing take-up across their organisation, segmented by categories such as age, gender and location.

Bringing Power BI to SIPs

Building on the success our clients have had with these SAYE insights, we have now adapted the Power BI technology to provide the same real-time, detailed overview of our clients’ SIPs.

With access to our Power BI SIP dashboard, it can help you:

  • Spot opportunities for renewed participation
    Identify people who are no longer participating in the SIP, remind them of the benefits and ask if they would like to rejoin.

  • Identify dormant funds
    Highlight people who may have forgotten that they have funds available – perhaps through free shares issued several years ago – and re-engage them to become an engaged employee shareholder.

  • Pinpoint weaknesses
    Demonstrate where take-up is working and where it isn’t, providing the insights to improve participation and communication where required.

  • Get the message across better
    Segment SIP mailings according to employee category. For instance, you may well achieve better results by deploying different language, imagery and explanations of benefits for different age groups.

  • Support employee wellbeing
    The dashboard insights can help you to support employees who may be in difficulty. For example, your Power BI data may show low take-up of SIPs in specific locations. This could perhaps demonstrate that, particularly given the current economic circumstances, some of your employees are being held back from participation by financial hardship issues. Again, this would be an insight that your organisation could then act upon to support your employees across the board.
Insights On SIP Article4 Graham Bull MD of All Employee Services at EQ

“We feel passionately about this,” says Graham Bull, MD of All Employee Services at EQ.

“It’s such a shame when employees miss out on a valuable benefit that their employers want them to enjoy, particularly when it’s through a lack of awareness, understanding or perhaps their financial circumstances. The Power BI dashboard, gives you everything you need to re-energise the offer and return value to people. It also gives you the MI to become much more proactive in steering the strategy behind the SIP.

“The technology is wonderful,” adds Graham.

“But working closely with our clients, we also bring experience to the table in terms of extracting the key insights from the data. This is about more than following general best practice for SIPs, it’s about ensuring that you have exactly the right information you need to make the best decisions for your organisation and your people.”

Interested in finding out more?

Get in touch with your Client Relationship Lead and we can arrange a demo to show how the Power BI SIP dashboard could work for your organisation.

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