Media owner Chrysalis Group hopes to cut costs and improve staff motivation by rolling out an online flexible benefits system to its 700 staff across the UK.
The company, which owns the Heart, LBC and Galaxy radio stations, and also publishes books and music, is using technology from supplier 4th Contact to overhaul its existing benefits system, which the HR team admits was “undervalued”.
Craig Warden, HR director at the Chrysalis Group, said: “Employees did not rate private medical insurance or private health insurance, for instance. Yet these are typically very expensive to provide. The staff appreciation did not match the company expenditure.”
Warden hopes the new system, being implemented for Chrysalis by the HR division at professional services firm Pricewaterhouse-Coopers, will prove more popular, and easier to manage.
“We piloted a manual total reward statement in the past, but would never do that again because of the large amount of administrative work it created,” he said.
“We are confident that our employees will find our benefits offering [which includes holidays, pensions and life insurance] far more attractive, and will have a better understanding of the total value of their reward package.”
Warden also expects to see some cost savings in the first year, even taking into consideration the implementation expenditure, with more significant savings in the second year.