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Case study: Polyco gives back to its 125 employees
Polyco, one of Europe’s largest technical glove companies, wanted to give something back to their 125 employees.
They were conscious that a benefits package was in place for senior anagement but only a very basic benefits package existed for the majority of employees. They felt more was needed and asked for assistance and 'Your benefits' was the outcome.
The Background
Polyco was established in 1979 and since then has grown to become one of Europe’s largest technical glove companies with market leading positions in professional and household hand protection markets.
As there had been a management buyout the new management team wanted to make a statement. The leadership team were mindful of the limited benefits package in place and this was something they wanted to address through their new offering.
The overall aim of 'Your benefits' was to enhance the basic package which was in place, and through the new programme make Polyco a more attractive place to work.
As they had recently implemented pension salary exchange and saved some money on national insurance, they decided to put that money to good use and invest it in supporting a new and better benefits programme.
With a wide range of age groups to please (from 18 through to retirement age with most employees in the 30 to 40 bracket) a mixed benefits package was required.
The benefits
Following discussions with Personal Group, the leadership team at Polyco agreed on the best all round package for their employees. The offer of thousands of retail discounts at numerous well known high street retailers really appealed as it applied across the different age groups. Personal Groups’ benefits provide access to holiday, hotel and travel discounts, plus numerous fun days out.
This ticked all the boxes for the age groups.
Recognising that the company offered a limited company sick pay scheme they decided to introduce and offer Personal Group’s voluntary group income protection (VGIP) to all employees.
This salary exchange insurance provides a regular monthly income benefit if an employee is sick or suffers an accident and is unable to work for a continuous period of time. It provides peace of mind should the worst happen.
To support the health and well-being of all of the team at Polyco, they also added a company paid health cash plan which takes the sting out of dental bills, eye care and other therapies.
Their corporate values are 'Being courageous, acting as one team, customer obsession and keeping it simple” – all of which resonate with the 'Your benefits' intentions.
The Communication
Personal Group worked with Polyco to create a communication plan for all employees. They initially did a presentation one month before launch to say that the benefits were coming and for all employees to be aware.
They followed that up with a poster campaign one month before the Personal Group benefits experts came in for one-to-one meetings with every employee. Personal Group’s one-to-one benefits presentations proved popular allowing employees to fully understand what was being offered to them.
Since the launch Polyco’s HR department has been keeping on top of communication by using Connect. This is an online tool designed by Personal Group to make life easy for the HR department.
By continuously promoting offers available through 'Your benefits' they have kept their staff engaged with their programme.
The outcome
Polyco are pleased with how well received their benefits have been. They have experienced an 86% take up with savings at Sainsbury’s coming out as the most popular.
Lisa Gladel, human resources manager, said: “We wanted to give something back to everyone and as I had previously worked with Personal Group I knew they provided affordable benefits. Income protection can be an expensive type of cover to have so by providing VGIP via salary exchange is giving our employees something they value. I had a member of our sales team who was moving house and re-mortgaging as VGIP was introduced.
He was pleased with the VGIP offer as it provided him with peace of mind knowing that his income was protected. I’ve had lots of positive feedback and one colleague was thrilled to get his cheque for dental treatment sent to him the very next day.
There have been a lot of positive experiences.”
This article was supplied by Personal Group
In partnership with Personal Group
Personal Group provides the latest employee benefits and wellbeing products.
