Client Spotlight on Marks & Spencer
Employee benefits are a great way to provide extra financial support for your employees and show them you’re invested in them, but without the proper technology in place, organisations frequently see low benefits uptake. When benefits aren’t centralised and are difficult to access, employees won’t take the initiative to use them.
This was a challenge that Marks & Spencer was facing with its previous employee benefits platform. When the team at M&S decided it was time to refresh their benefits strategy, they conducted a company-wide survey to discover what employees wanted when it came to their benefits.
The survey responses quickly gave the team a clear direction to take in evolving their strategy to meet employees’ needs – employees wanted simple, accessible and flexible benefits.
The team at M&S began looking for a provider who could not only consolidate all benefits, but also bring together their recognition and wellbeing initiatives in one central location. It was also important that employees were able to access the platform from any device so employees could use it when it was most convenient for them.
M&S partnered with Reward Gateway to create a new platform, ‘My Choices,’ that hosted all benefits, discounts, wellbeing resources and recognition tools in an all-in-one employee engagement platform. My Choices made the user journey seamless, as employee shares and pensions accounts, as well as Cycle to Work and SmartTech™ could all be accessed through single sign-on to the platform.
Employees could also access these benefits at any time of the year, as opposed to biannually with their previous provider, which helped ensure that employees were taking full advantage of the benefits offered.
Within eighteen months of launch, 72% of the organisation’s large workforce was registered and actively using the My Choices platform every day. Since switching to Reward Gateway’s Cycle to Work and SmartTech™ products, the organisation has had nearly 250 Cycle to Work orders and close to 5,000 SmartTech™ orders, which adds up to approximately £2.5 million. The benefits uptake continues to grow, and employees love the accessibility of the platform and the flexibility of the benefits offered. Read the full story here.
With the right employee benefits technology in place, you can show your employees that as an employer, you understand and support them in meaningful ways.
If you’re interested in getting started on your benefits journey, get in touch with us and we can walk you through how our benefits tools can impact your business and your employees’ lives.