REBA Awards Winner: Benefits strategy - The Hyde Group

Size: 1,200

Sector: Housing Association

Initiative: Being Well

What Hyde Group did
Social landlord The Hyde Group says that its employees need “a business head and a social heart” to support its 100,000-plus customers in over 50,000 homes, 24/7. To deliver that service, The Hyde Group knows it needs to put staff wellbeing at the heart of its business. It is also an important part of its mission to continue to recruit new employees, often from outside the housing sector.

The group launched its Being Well programme in 2014. It has since evolved to cover four pillars: LiveWell (promoting physical wellbeing) CopeWell (focused on stress management and mental health), WorkWell (creating an outstanding working environment and supporting work/life balance) and SpendWell (tools and support to help employees to be financially confident). The pillars are backed up by employee benefits available on iFlex, the business’s flexible benefits platform which was introduced in 2013.

Being Well is continually evolving as employees’ needs change and new wellbeing challenges come to light. For example, the business recently introduced Vitamin D health checks for staff to help boost energy levels and performance as part of its LiveWell pillar. And, within its SpendWell strand, it has introduced mortgage advice, affordable loans and a ‘money makeover’ for staff.

Measuring the success of its wellbeing strategy is critically important to The Hyde Group. It collects and combines data from different sources to understand return on investment as well as to assess how well employees are engaging with their benefits. This also helps the housing association to identify new employee needs and respond to these as part of their future strategy.

The work is paying off. In 2018, the company used Aon’s benefits score to benchmark its performance against measures including choice of benefits, take-up and communication/ engagement. It scored 89 compared to a sector average of 49. In a separate analysis, the business’s employee engagement score increased from 67% to 81% in 2018 and there is clear evidence that Being Well is reducing sickness absence.

For the future, The Hyde Group wants to make sure that its staff use their wellbeing benefits as much as possible. It has introduced a workplace champions programme to make sure the wellbeing message and details of what’s available on iFlex reach all the workforce. Following a gap analysis of its employees’ needs, it will also be extending SpendWell, to add more support on financial education, particularly around retirement planning.

Why it won
Judges were impressed with the way in which The Hyde Group’s wellbeing strategy connects with its business goals and its purpose of supporting residents, including many vulnerable people. They applauded the clear, four pillar approach which continues to evolve in response to employees’ needs. A judge praised Being Well as “a clearly sustainable, universal strategy” that was broad enough to offer something for all employees.

Its commitment to quantifying success against clear goals, as well as identifying future needs, helped The Hyde Group to stand out. When it comes to staff wellbeing, it is a pioneer in its sector.