The Coventry Building Society was formed in 1884. With assets of more than £21 billion, it is the third largest building society in the UK and serves more than 1.5 million customers. HR project manager Tina Jones explains why the company offers a childcare voucher scheme to its 1,700 employees.
“We like to offer our staff a wide range of benefits,” she says. “With the tax and national insurance savings that can be made through the scheme, there was no real decision to make to offer the scheme to staff – it was the right thing to do.”
Around 90 employees currently use the scheme and the Coventry Building Society firmly believes that engaged and motivated staff create a more productive workforce and enhance business performance.
She adds: “One of the many ways of engaging staff is by providing of a variety of benefits to suit various staff needs. Offering childcare vouchers supports our family-friendly benefits, and provides staff with a great way to reduce their childcare costs.”
The Coventry Building Society recently decided to change its childcare voucher provider to Kiddivouchers, which it felt supplied a service that fitted in with its company values.
Jones says: “We had a tendering process involving a number of providers. While all had good things to offer, we decided to move to KiddiVouchers due to the simplicity of the transfer process, their track record of growth and customer retention, and because of they guarantee to donate 5% profits to children’s charities, which fits well with our own community programme.”