Our client was concerned about the impact of impending Auto-Enrolment pension legislation on their business
– what it meant to their bottom line and the possible confusion amongst their employees due to changes in how they
would be paid.
The first step was to meet with the management team to fully explain to them how the new pension legislation would affect their business, how they could best prepare for the lead up to their specific Staging Date, the different ways in which their Auto-Enrolment compliant company pension scheme can be set-up and implemented, the options for communication to their employees, as well as their ongoing administrative and legal duties once set-up.
Once we had decided on the best approach, Gingko researched the whole of market to source the best value Pension Scheme for our client’s needs, then put in place a bespoke implementation and communication programme to minimize costs whilst maximising employee engagement.
This included ongoing liaising with management team on how to best implement and communicate from both a legal and employee engagement standpoint; ongoing liaising with all providers involved in the process to ensure seamless integration (Pension provider, Payroll provider, Middleware software provider, Accountant); providing of the correct letters and documentation to their employees to satisfy employment law legislation whilst also ensuring these documents were personal and engaging; a group presentation to their employees on how their new Pension Scheme worked and the benefits to them in the context of overall financial planning; follow up personal 121s with our in-house financial advisers to help their employees understand and action what is required to help them achieve their personal and financial goals.
Why we loved this project
Our client fully embraced the impending Auto-Enrolment pension legislation changes as an opportunity to engage their employees, reinforce their company values and to show how important a role their employees played in their continued success. It was exciting to see feel our client’s employees fully understand and value the investment of their Employer into their lives and careers. As a result, our client has asked us to help them put in place a wider Employee Benefits programme.
“The feedback from our staff has been excellent. Gingko have managed to explain the complex world of finances in simple terms which even us mere creatives could understand. Feeling our employees fully engage with the investment we have made in them has been extremely rewarding. Gingko really are the guys to go to if you want to put in place Employee Benefits which your staff will truly value”. Director