Moneysupermarket Group uses its range of employee benefits to offer choice and flexibility to its workforce, while reinforcing the values of an inclusive culture.
The price comparison website business’ reward package includes a range of core, flexible and voluntary benefits to ensure there are perks that appeal to all 800 employees.
Neil Fitzgerald, head of reward at Moneysupermarket Group, says: “With our benefits, we provide a wide variety of choice for as many people as possible, and as much flexibility, which is a key thing behind some of our benefits.
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“We also try and provide benefits that people want. So we work with employee groups when we’re reviewing a benefit to make sure it’s something that they want, so they can help us actually shape it.”
Its green car scheme is an example of how the organisation uses its employee voice to choose voluntary benefits that help shape the culture. The scheme was attractive to the employer because of the savings that can be made through the zero benefit-in-kind tax on electric vehicles. The proposal was put to an employee group to gain opinion on the green scheme. “We have an employee resource group for green issues,” explains Fitzgerald. “So we engaged with them on it to explain about the benefit, but also to get a feel as to how green people were actually prepared to go: all electric? Or do we offer some petrol cars as well, or hybrids? Those are the types of questions that we were asking.”
Working with the employee group, Moneysupermarket decided to introduce electric and hybrid cars only.
To ensure all areas of employees lifestyles are supported, Moneysupermarket offers a range of healthcare schemes. All employees can take up a health cash plan, for which the employer pays for the base level, but they can upgrade and add their family at their own cost. Senior managers at the organisation receive private medical insurance (PMI), but can choose to sign up, and pay for, for the cash plan. Conversely, all other employees have the option of joining a voluntary employee-paid PMI scheme.
With employees’ financial wellbeing in mind, Moneysupermarket introduced Hatch, a financial coaching benefit, in 2019. A coach will provide employees with a plan in order to help them reach a financial goal. The first meeting is free, then the benefit is paid for over 12 months through a salary sacrifice arrangement.
The group also offers free breakfast to employees, and retail and leisure discounts through a voluntary benefits platform. They are regularly reminded about the savings they can make if they shop through the platform.
All the schemes help to support the employer’s culture. Fitzgerald says: “We have a very inclusive culture, and our benefits reflect that. It’s really about providing choice and flexibility. It’s not just about base salary and a bonus; we have a benefits offering to help any employee at any stage in their lifecycle. Whether that’s good family leave support through to flexible benefits that we make sure people want.”