Tackling the challenges for employee benefits in retail

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Tackling the challenges for employee benefits in
retail

• Karen BatesHuman Resources Manager,Next Retail

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Whats special about retail?

• Higher staff turnover
• Which brings issues for joiners and leavers
• Seasonal staff
• So who is eligible
• Broad spread demographic
• Which benefits are universal are there any?
• Tight cost-control
• We need maximum ROI, every penny justified
• More difficult communication
• We cant just send an all staff email out

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Key goals Why do we bother?

• Additional benefit to working at Next
• Enhancement to the benefits package
• Nice to have but expected !
• Perceived value is greater than actual cost

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So which benefits have we considered

• Childcare vouchers - in place
• Cycle to Work - lack of support (distance)
• EAP - in place
• Share save - in place
• Pensions - in place
• Staff discounts - in place
• PCs - change in legislation
• Holiday trade up/down - system support
• Lunch for less - still considering

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What have we launched at Next?

• Total reward statements
• Childcare Vouchers
• Re - launched Employee Discounts

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Tackling Communication

• Key cost driver means use existing channels.
• Payslip attachments can be cost effective
• Use line managers briefings
• Empower divisional HR managers with a good news
  message
• Be creative with short term registration
  incentives and competitions
• Use imagery and photograph that feels like your
  company
• We used our own models and clothing to promote
  our scheme

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Including everyone

• Makes sure you have a broad spread of discounts
• Alton Towers to the Golf Course, ASDA to Waitrose
• Make sure you have a broad spread of access
  channels
• Online
• Easy to administer and update, but wont reach
  everyone
• By phone
• Shorter list of benefits, but reaches those not
  online
• In the high street
• People still love shopping in the high street
  (fortunately), so discounted gift vouchers are
  still a good addition

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In Summary

• Do your benefits appeal to a broad cross section
  of employees ?
• Are your benefits communicated to everyone ?
• Have you included your pensioners ?
• When did you last review your benefits package
  are they still relevant ?
• Do your benefits fit your culture / brand ?