The new scheme design and brand, i-benefit, encompasses the young, innovative and digital nature of the company.
Staff turnover can be as high as 30% in the digital communications industry, and it was felt that i-level staff undervalued their existing remuneration. Working with flexible benefits provider Thomsons Online Benefits, i-level wanted to create excitement and awareness around the true value of the benefits on offer, communicate this in a meaningful and relevant way, increase staff referrals and attract candidates motivated by better remuneration.
Staff surveys and focus groups highlighted the desire to remove paper bureaucracy from the benefits process, and to transition administration to an online system. Staff also wanted face-to-face meetings to explain benefits. They also showed that i-level staff were interested in trading one benefit for another, thought a better benefits package would improve their loyalty and engagement and highlighted to scheme designers which benefits would be most popular.
As well as traditional benefits such as holiday, dental and health cover, the new scheme offers additional half-days off on birthdays, wild card training vouchers for non-work related courses (some staff are now learning things like monster truck driving), broadband, mobile phones and discounted dining. The communications reflected the modern forward-looking personality of the company.
The campaign began by removing all mugs in the office and replacing them with ‘i'character mugs on launch day as a teaser. Further communications were sent out to employees' mobile phones, including the i-Phone, were animated on the internet and distributed to prospective employees on USB sticks. These messages continue to raise the profile of the benefit offering.
i-level's HR director, James Miller, said: "The communications felt really innovative and it was good using digital media because at the end of the day that's what we're about as a company. People have found it really good fun and I'm really, really pleased with the concept we have come up with."
The i-benefits brand has acted as an inspiration and catalyst for the creation of i-level's first People Plan by the HR team in line with their business strategy and values. The company now actively promotes a health and wellbeing programme for staff called i-health. i-engage has been launched as an internal communication and recognition programme and i-support is the new name for the company's CSR plans.
As a result of the revamp, 99% of staff agree their benefits package has been improved, and three quarters of the workforce tailored their benefits themselves through the online portal.
Pension take-up has nearly doubled, and more than 77% of staff agree the launch of i-benefits has had a positive impact on their motivation and engagement. i-level hopes to fill 50% of staff vacancies through referrals, and improved staff retention is also having a financial impact.
Reduced administration and savings through salary sacrifice add to the financial success. Introducing the scheme is expected to recover costs of the project for i-level, plus a further 430% ROI (net investment) in year 1 alone.
Stephen Rust, CEO of i-level, comments: "The introduction of our ‘i-benefit' flexible benefits programme was a key milestone in our overall company roadmap and has been incredibly well received. A great result."
