Investment management firm Gartmore has introduced a flexible benefits
package for its staff in a bid to improve recruitment and retention.
The company launched the scheme earlier this month and so far around
two-thirds of the company’s 650 staff have already tailored their employment
Flexible benefits available include extended healthcare and insurance cover
for staff, partners and spouses, childcare vouchers, dental insurance and a
Employees can also choose to buy or sell their holiday allowance, within a
minimum 20 and maximum 40 days a year. A day’s holiday is calculated as a 260th
of employees’ pay.
Holiday flexibility has proved particularly popular, with 160 staff buying
more holiday time and 40 employees selling some of their holiday entitlement
back to the firm.
Staff can adapt their package online where they can see how changes will
affect their next pay packet.
Gareth Owens, head of HR at Gartmore, believes the move will help the
company recruit and retain the best staff.
He said: "We want to ensure we are recruiting and retaining the very
best people. The aim of flexible benefits is to suit individual needs and allow
staff to change their package to adapt to life changes such as marriage,
children or even divorce.
"The move seems to be a success as it gives staff control over
something that historically they have not had control over."