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A scale-up FinTech company based in London had experienced rapid growth, expanding its workforce to over 150 employees. With a keen eye on attracting and retaining top talent, the company sought to enhance its benefits package to stay competitive in the market.In their quest to build a robust benefits package, the company recognised the need for a comprehensive retirement solution to secure the long-term financial well-being of its employees. After using eurikah's retirement forecast calculator, they realied the potential benefits of switching to eurikah's workplace pension scheme and reached out to discuss switching from the incumbent provider.
Following several due diligence and discovery sessions, the company engaged eurikah to implement a tailored benefits package, encompassing both a workplace pension scheme and additional employee benefit perks to enhance employee engagement and financial security.
We facilitated the switch from the client's current pension provider to eurikah's workplace pension scheme. Through a series of online workshops spanning four weeks, eurikah engaged employees, raising awareness and encouraging participation. Employees were encouraged to ask questions, to ensure optimal engagement from day 1.
eurikah's follow-up sessions addressed queries comprehensively, ensuring employees felt supported throughout the transition.
"We saw a lot of our values in eurikah: we're both companies on a mission to make a difference, to support our clients and provide excellent customer service. We're really happy with the relationship so far."
Within six months of implementation, the impact was already beginning to become evident.
Employee churn plummeted to 0% for the period, signalling increased satisfaction and retention. Internal job applications and promotions increased, indicating a boost in employee morale and appetite for internal career progression. The company forecasted material cost savings by promoting from within rather than externally hiring for vacant positions.
Pension performance soared by almost 100%, showcasing the effectiveness of eurikah's retirement solution. Notably, voluntary contributions surpassed minimum levels, reflecting employees' confidence in their financial future.The implementation of eurikah's digital platform resulted in significant time savings for HR and payroll departments. The platform's user-friendly interface streamlined administrative and regulatory tasks, freeing up valuable resources. Additionally, quick access to eurikah's Customer Care team provided timely support for complex queries, further enhancing operational efficiency.
By partnering with eurikah, the client successfully transformed its benefits package, enhancing employee engagement and financial security.
The case showcases the pivotal role of offering competitive employee benefit packages when attracting and retaining top talent. As organisations navigate the increasingly competitive landscape of talent acquisition, solutions like eurikah offer a unique solution to sustainable growth and competitive advantage.
To explore how eurikah's employee benefits platform can empower your hospitality business, use the "Get Started" button below to contact us today.
