How The Ned delivered a 5* benefits package for employees, resulting in an 83% eNPS increase

After hosting conversations with different groups of employees across the organisation to define its requirements, The Ned partnered with Reward Gateway | Edenred to improve the organisation’s benefits offering.

The People Team were drawn to RGER over other options on the market due to the opportunities to fully brand and personalise the platform – they weren’t looking for an ‘out of the box’ solution that lots of other companies had, but rather something that felt more bespoke for The Ned’s employees.

The organisation initially launched with employee discounts, aiming to get people engaged with the platform before building it up and adding more benefits. The new platform was called Benefit Bank, in a nod towards The Ned’s history as the former Midland Bank headquarters.

Shortly after the launch, the team introduced the Wellbeing Centre, Cycle to Work and digital tools for employee reward and recognition. The Ned further personalised its introduction of Instant Awards by issuing the value in ‘Ned’s Coins’, which employees can redeem through the platform at hundreds of retailers and vendors. Manager-led rewards were created in the form of Sparkle Moments and each manager has been provided with a pot from which to reward their team members. In addition, there is a fully automated process for employees to receive rewards for work anniversaries and significant contributions – reducing admin and freeing up the People Team for other tasks.

What they achieved

Benefit Bank has been extremely well received, with employees immediately making notable savings on their everyday spending. As the news spread about the discounts and saving opportunities, adoption and usage of the platform started to grow and grow. So much so that 99% of The Ned’s total workforce are now registered on the platform, 74% of whom are active users.

In just 12 months, employees saved £2,700 through discounts, and spent £8,600 through their rewards programme. Over 660 awards were sent, and ‘Ned’s’ Coins’ became one of the most important recognition tools used across the organisation. The new Wellbeing Centre was accessed 240 times, and employees spent £2,300 through Cycle to Work – a benefit proving to be incredibly helpful for the entirely London-based workforce.

But perhaps the most impressive result has been that since the introduction of Benefit Bank, The Ned’s eNPS has increased by an amazing 83%.