CBS and Personal Group – press release 16 May 2007

A little TLC goes a long way…

Coventry Building Society has been in the business of looking after its members for over 120 years and prides itself on offering excellent service by being "caring, committed, reliable and responsive". This is a commitment that the Coventry takes very seriously and without doubt extends to the care of its staff, and the remuneration and benefits packages that it offers. This is illustrated by the voluntary benefits programme and total reward statement system, open to all staff under the TLC for you brand. This is in partnership with Personal Group, and helps the Coventry compete with others in the market place and ensures that their staff are receiving the very best incentives and rewards for their service.

The voluntary benefits package is individually structured, offering a wide variety of services. Tina Jones, HR Project Manager at the Coventry commented "it is important to have a range of benefits that will appeal, at least in part, to everyone, although feedback indicates that even where staff do not personally use any of the benefits there is a perception that the Coventry is offering a valuable and recognised service". Staff were initially introduced to the scheme via one to one meetings with the service provider, Personal Group, and this, combined with a communication programme that ran concurrently, made for a highly successful launch. To make sure TLC for you is kept at the fore front of employee's minds, different benefits are profiled each month, an activity that allows the Coventry to easily link the programme into existing and ongoing initiatives.

At the Coventry the primary communication tool for all employees took the form of a booklet issued to everyone at the one to one meeting. In addition the Coventry used their intranet and website, as well as promoting the scheme in their staff magazine and on strategically placed posters (posting them on toilet doors was highly productive!). The Coventry also identified the vital role played by managers in increasing awareness amongst their staff, and linked initiatives like their Wellbeing programme with voluntary benefits like the Employee Assistance Helpline and Health and Fitness membership.

When the Coventry first identified the need for a more comprehensive benefits programme, one of their aims was to improve staff perception of the Society's benefit and remuneration packages. According to Tina Jones, the benefits portfolio at that time was in need of review. The benefits on offer were very much linked to role or position, with only elements such as life assurance being universally available. Initially the Coventry considered a flexible benefits programme but determined early on that this was a step too far, both in terms of cost, and the infrastructure necessary to support such a programme. Once agreed that a voluntary benefits package was the ideal solution, the Coventry approached several recognised providers in the field, ultimately selecting Personal Group based not only on their track record and range of benefits, but vitally on the level of support that they were able to provide. Logistically, Personal Group took care of the launch, coordinating the one to one introduction to employees as well as the publication of support material, including the TLC benefits book and partner web site. "The launch was handled extremely professionally and we are very pleased with the level of ongoing support that Personal Group provides" said Tina Jones.

As part of the development of TLC for you, the Coventry also decided to introduce an on-line Total Reward Statement system to replace the existing paper statements, again provided by Personal Group. This means employees are able to see at a glance the full value of their remuneration package including benefits. Despite the inevitable effort, time and administration required, the Total Reward Statements have been well received by staff and they are regularly updated to reflect changes in an individual's package.

The introduction of TLC for you has helped the Society be at the head of their game. It has helped to improve the perception of the Coventry as an employer amongst both existing and prospective staff. "The challenge now" said Tina "is to make sure TLC for you is constantly developed, bringing new and varied benefits to staff. The Personal Group have been instrumental in helping us with this aim".

For more information on voluntary benefits packages and total reward statements that can be tailored for the needs of your organisation please contact Ken Rooney at Personal Group, on tel: 01908 605000 ext 324