UKMBG Survey on Flexible Benefits General Motors UK & Ireland

Transcription

1 September 2008 UKMBG Survey on Flexible Benefits General Motors UK & Ireland Limited is authorised and regulated by the Financial Services Authority Registered in England No Registered Office: 1 Tower Place West, Tower Place, London EC3R 5BU

2 Contents 1. Overview 2. Participant List 3. Flexible Benefits 4. Confidentiality and Data i

3 1 Overview has been engaged by General Motors UK & Ireland to conduct a short survey on Flexible Working amongst members of the UK Management Benchmark Group. Nine companies submitted data for the survey. Thank you for taking your time to participate in this survey. If You Have Questions If you have questions regarding the survey or the report, please contact either Simon Kennedy at simon.kennedy@mercer.com / +44 (0) or Donna Davies on donna.davies@mercer.com / +44 (0) Confidentiality To ensure the confidentiality of all data, a minimum number of observations are required in order for statistics to be displayed. Three organisations must report at least three observations for a variable in order for the average to be displayed. Four organisations and four observations are required for display of the median. Five organisations reporting at least five observations is required to display 25th and 75th percentiles. Where there has been insufficient data for analysis, this has been indicated with "-". 1

4 2 Participant List BP Cadbury Glaxo Smith Kline Kellogg Kodak Ltd Marathon Oil Mars UK PSA Peugeot Citroen Automobiles Shell International Ltd 2

5 3 Flexible Benefits What company paid benefits do you currently offer your employees? Comments are listed by employee grade if applicable Company 1 Pension, holiday, share match, share save employee assistance programme. Company 2 Pension, holiday, company car (perk above certain level), bonus (earnings potential varies by grade), private medical insurance (not provided for admin employees). Company 3 - Pension plan contributions (diff level at diff grades) medical healthcare plan (all employees), car allowance and employee car ownership scheme (diff level at diff grades). Company 4 All employees receive a DC pension, SIP certain grades receive private medical insurance. Company 5 Pension and private health cover (single cover for all employees, management employees have dependant cover also) also company car or car allowance for management grades. Company 6 All employees receive private medical insurance, defined benefit pension scheme, personal accident cover (employee and family), lump sum death benefit, discounted goods and services via affinity scheme, company matched share incentive plan, employee assistance programme, free staff restaurant or cash allowance for locations without a restaurant, professional memberships paid, 100 towards gym membership. Company 7 medical life assurance, sickness benefit, family leave, pension holiday, Christmas bonus. Company 8 All employees receive holiday, pension, profit related pay, personal accident insurance, free eye tests, training, maternity and paternity leave. All managers are offered private medical insurance. Company 9 Pension, private medical and dental and a company car are grade related also childcare search and selection. Based on 9 responses. What optional benefits are available to your employees? Company 1 Voluntary benefits are available to all grades. Company 2 Cash alternative for a company car and private medical, SAYE childcare vouchers and a range of other corporate discounts, employees can purchase extra holiday. Company 3 For all employees - optional benefits are a share saving plan, share reward plan, salary sacrifice plans, bikes, childcare, health assessments, family support services, play schemes, total reward discounts, employee assistance programme. 3

6 Company 4 Private medical, dental insurance, cycle2work, child care vouchers, holiday trading, non funded medical cash back plan. Company 5 Childcare vouchers Company 6 Reduced rates for family cover for private medical insurance. Company 7 Travel insurance (through a third party), Childcare vouchers (through a third party) Company 8 Childcare vouchers, share incentive plan, discounts on cars and parts, employee car ownership scheme, medical cash plans. Company 9 Childcare vouchers, cycle to work discounted products Based on 9 responses. Are any of these benefits tradable? Yes 33% No 67% Based on 9 responses. Of the 33% who said that benefits were tradable, which of these benefits are most popular? Of the 33% that answered yes, that benefits were tradable, the most popular were: Holiday trading and trading up/down/ out of company cars policies. Which provider/consultant do you use for this service/platform? Of the 33% above, results were: - Services were run in house - Aon Vebnet, however the company were considering moving to StaffCare - No provider was used What were the key factors in your decision to provide flexible benefits? Of the 33% above, results were: - Market trends increasing diversity in the workforce - Staff demand, competitive recruitment/retention, cost saving (salary sacrifice) Has the decision been popular with employees, i.e. a good take up etc? Of the 33% above, 22% answered and said Yes, that the decision had been popular. 4

7 Were unions involved in any of the decision making? 11% - No 11% - Yes 11% - No response Have you considered using flexible benefits? From the nine participant responses: 55% - No 22.5% - Yes 22.5% - No response If you answered Yes, what factors affected your decision not to progress? Of the 22.5% who answered yes that they would consider using flexible benefits, the reason given for not progressing was administration complexity. Would you consider offering flexible benefits in the future? From the nine participant responses: 55% - Yes 22.5% - No 22.5% - No response Would you consider offering flexible benefits in the future? Of the 22.5% who answered no that they would not consider using flexible benefits, the reasons given were: Administration Complexity This would probably be unlikely as we already offer a full range of benefits at no cost to the employees. 5

8 4 Confidentiality and Data Each party to this Agreement is likely from time to time to disclose information and advice to the other party in the course of the provision of the Services. The party receiving the information ( the receiving party ) will not divulge or communicate such information to any person, other than a person whose business requires that person to have the information to enable the Services to be provided. This restriction does not apply to information which the receiving party must by law disclose, or to information which is either already in the public domain or enters the public domain through no fault of the receiving party. The Client agrees that will be entitled to disclose information relating to the Services or the Client to regulators and otherwise as required by law. The Client also agrees that, notwithstanding the provisions of the previous paragraph, may disclose the identities of the Client s nominated contacts and information about the terms of this Agreement, the Services and the Fees to any holding company of or any subsidiary of any holding company of ( a group company ) whether in the European Economic Area or elsewhere. The Client will ensure that any nominated contact who does not wish to be contacted about other services provided by any group company is aware that he or she should advise the Client s usual consultant accordingly. The Client also agrees that may use information provided by the Client and s other clients to build databases for internal use by staff; these databases are intended to benefit all clients by improving the quality of s advice, but will not disclose them to any third party in a manner which allows particular clients or individuals to be identified. This Agreement is made on the basis that each party is entitled to assume that the other has complied and will continue to comply with its obligations arising from the data protection and privacy laws in force from time to time to the extent that those obligations are relevant to this Agreement. To the extent that processes personal data on behalf of the Client, confirms that it will act only on the instructions of the Client or someone authorised by the Client for this purpose. also confirms that it has taken appropriate technical and organisational measures against unauthorised 6

9 or unlawful processing of personal data and against accidental loss or destruction of, or damage to, personal data To ensure the confidentiality of all data, a minimum number of observations are required in order for statistics to be displayed. Three organisations must report at least three observations for a variable in order for the average to be displayed. Four organisations and four observations are required for display of the median. Five organisations reporting at least five observations is required to display 25th and 75th percentiles. Where there has been insufficient data for analysis, this has been indicated with "-". 7

10 Limited Tower Place London EC3R 5BU