How PPL's new benefits package helped improve engagement by 7% and win an award
Compensation and Benefits Manager
PPL, based in London, licenses the use of recorded music in the UK for broadcast, online and public performance. They collect and distribute royalties on behalf of their 90,000 record company and performer members.
As part of PPL’s ongoing people strategy, they focused on reviewing their benefit package to help achieve their aim; becoming an employer of choice within the music industry, attracting talent, whilst retaining and motivating employees. Their approach won them the coveted Employee Engagement Awards Reward and Recognition Awar.
PPL have worked with People Insight for several years. Through surveying and analysis, they have been able to identify key issues and make significant improvements, increasing their engagement score by 7 percentage points in four years. Really significantly, they have also improved staff’s belief in the survey and change process, with a whopping 72% believing improvements in the organisation will happen as a result of the survey findings.
Sheneen Harris, Compensation and Benefits Manager at PPL, who lead the project said,
“Working with People Insight has allowed PPL to gain valuable feedback from employees on their workplace experience thus ensuring the people and engagement strategy continues to align to current desires making PPL a more enjoyable place to work.”
Despite these positive survey results, PPL had identified through the survey that only 43% of employees thought that the benefits they received compared favourably with other employers in our industry, against an external benchmark of 48%.
PPL undertook a thorough analysis of its benefits scheme to understand what might be causing dissatisfaction, and the results revealed:
In addition, the scheme was not as cost effective as it could be for employees:
Given the challenges PPL faced, 3 clear priorities emerged:
“We wanted employees to have a package that differentiates PPL from other organisations, and to make sure they understood and took full advantage of the benefits available to them.
As a not for profit, we wanted to ensure that we were receiving the return on our investment as well as ensure that we have the most cost effective solution.”
“We carried out research both externally and internally with a focus on looking at benefits that would appeal to our average demographic.
“We carried out a review and audit of PPL employee data and the benefits available, to give a strategic overview of current benefits and the benefits that we should offer in the future. We also benchmarked benefits against firms with a similar economic profile of employees.
“Staff undertook a survey to understand how they perceived the benefits package and what they would most value.
We recognised a need for a brand for this project, so the ‘WE ARE LISTENING’ brand, used for our engagement survey was further evolved to the ‘WE ARE REWARDING’ brand.”
Quotes from the internal staff survey about the existing benefits scheme and what they would like to change
“Following the audit and the survey with staff, we were delighted to be able to roll out a range of new benefits under the ‘WE ARE REWARDING’ brand. We had listened, and this package is much better suited to our staff, with the majority available from day 1 of employment,” said Sheneen.
The benefits now include:
To ensure staff understood both what was on offer, and the value of the benefits, PPL also introduced total reward statements. They continue to carry out regular communication under the heading ‘WE ARE REWARDING’ as well as deliver benefit workshops.
Overall engagement has improved by 7 points over the last 4 years which is a significant improvement. Underpinning this two key improvements stand out: belief that benefits are good at PPL compared to other employers (up 18 points) and belief that the organisation will act on the survey findings (up 21 points.)
“There have already been some significant impacts on the business,” Sheneen says.
The benefits review revealed a number of opportunities for cost savings. Introducing salary sacrifice benefits and driving take up numbers will increase the employer NI cost saving for PPL, whilst an increase in employee engagement supports retention which will lead to a decrease in costs associated with recruitment. In addition to this moving from a commission based broker arrangement to a fixed fee basis has also seen a reduction in the cost.
PPL have really shown employees they care, with rewards that PPL recognises they deserve. Through that care comes a more relevant and healthy benefits package on offer. PPL has been able to dramatically reduce qualifying periods for benefits, introduce new benefits, reduce cost and ensure they are both relevant and accessible to all employees.
The new benefits strategy is cost-effective and aligned with the employee demographic. It has delivered against the original goals and had a significant impact internally, at relatively low cost.
PPL listened to its employees and used the insight to make changes that impact and benefit everyone.