fieldfisher

fieldfisher

MAKING SAVINGS WITH ONLINE FLEXIBLE BENEFITS

OBJECTIVES

Leading international law firm Field Fisher Waterhouse approached Portus to help bring in flexible benefits for its 650 UK employees. Among the firm's objectives were to:

  • Save money through implementation of Pension Salary Exchange (Sacrifice)
  • Introduce flexible benefits at no cost to the firm
  • Allow employees to choose benefits that suit their lifestyle
  • Provide new benefits that are high quality and value for money

THE PROJECT

Portus managed the project with:

  • Feasibility Study to assess the business Case
  • Online Employee Survey
  • Employee Focus Groups to obtain detailed feedback to help design the flexible benefits scheme
  • Benefit design and sourcing as well as the technology specification, build and testing
  • Full communications plan

The scheme was implemented in two stages:

  • Online Salary Exchange for Pensions was introduced in July
  • Online Flexible Benefits was introduced the following January

The scheme has proved popular with staff, who have rushed to take up the opportunity to tailor their own benefits packages to fit their needs and lifestyles.

THE BENEFITS

Field Fisher Waterhouse has recently implemented a number of modern HR practices across the firm and online flexible benefits are one example of this approach. Introducing flex has allowed the firm to refresh and update both its benefit brand and its package. This now delivers a modern image in line with the development of the firm.

From a financial viewpoint, the firm achieved Employer National Insurance savings in excess of £100,000.

Other advantages included:

  • 75% of employees logged on to the benefits portal
  • 57% make a contribution to pension via salary exchange, which represents 100% of those contributing to pension
  • 18% chose new holiday packages
  • 47% bought new benefits

Overall, flex has allowed the firm to modernise its offer while simultaneously reducing costs.

 

"After a market review we were so impressed by Portus' depth of knowledge, research and expertise within the legal sector we appointed them to implement online Flexible Benefits and act as our consultants. Portus not only provided us with an effective online flex solution but also delivered it in a timely, efficient and cost neutral basis." - Charlie Keeling, Former Chief Operating Officer, Field Fisher Waterhouse LLP