Punch unveils new benefits for employees

By Hamish Champ

- Last updated on GMT

Related tags Salary Bar Pension Punch

Punch Taverns is to offer staff working in its managed pub operation a range of new flexible benefits including gym membership, child-care vouchers...

Punch Taverns is to offer staff working in its managed pub operation a range of new flexible benefits including gym membership, child-care vouchers and private medical cover.

The benefits scheme, being offered under the 'Benefits Bar' tag, will be available to the near-3,000 employees working in Punch Pub Company, and to head office staff working for Punch Taverns.

Punch's group human resources director Karen Caddick said she wanted to get people excited about the range of benefits available to them and give them more flexibility over the choices they make.

"The Benefits Bar is a creative way to get people to think more carefully about their future and their total reward package," she said.

Punch's managed staff earn annual salaries of between less than £10,000 for hourly-paid staff right the way up to £500,000 for managers and directors.

After getting employee feedback Punch said it had developed five characters, ranging from a 'Happy Hedgehog' to a 'Floating Butterfly', "to give people a feel for the type of benefits that might be important to them.

For example, a 'Wise Owl' might be interested in life assurance and pensions whereas a 'Floating Butterfly' would be keen on retail vouchers and gym membership".

Caddick said an interactive Benefits Bar portal has been created in conjunction with suppliers Vebnet and Standard Life, and launched to all employees.

"The website featured the characters and video footage of Punch's team talking about the benefits that were important to them. Through the site, employees can select their own benefits online and review how their choices change their total reward package.

"We know that employee needs are usually motivated by personal circumstances. An employee with children may be more interested in child care vouchers or family medical cover whereas someone who's just embarked on their career may be more interested in retail vouchers.

"The beauty of this scheme is that it gives just that; the flexibility to choose what's important to each individual."

The scheme went 'live' on January 1, 2011, with staff able to select which benefit options they would like online, seeing how their choices translate into their total salary and reward package.

In July last year Punch brought together a range of pension schemes into a single group personal pension.

Related topics Punch Pubs & Co

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