Mundipharma’s employees pride themselves on innovation, flexibility and entrepreneurial spirit – crucial cultural factors for staying ahead in the pharmaceutical industry. However, Mundipharma knew they were falling behind with the benefits package they offered their employees. Dating back to 1983, their traditional benefits offering was paternalistic and restrictive, and was no longer aligned to employee or business needs.
Unsurprisingly, surveys, focus groups and drop-in sessions uncovered that employees wanted a greater variety of, and flexibility with, their benefits.
So they enlisted the help of Thomsons to give them a market-leading benefits offering. Mundipharma’s objectives were to attract and retain their innovative talent, and ensure they were engaged with their benefits offering. All whilst maintaining costs and creating business value.
Enter ‘Flex’, Mundipharma’s brand new benefits programme, with a modern benefits offering. Their Flex platform, powered by Darwin™, gives employees an innovative way to access, and engage with, their newly enhanced benefits at any time and on any device.
Acting on employee feedback, Mundipharma launched four new benefits aligned to employee lifestyles to give them more choice. Not only that, on top of the core benefits offered, Mundipharma launched an additional selection ‘pot’ of benefits so employees have the flexibility to select the benefits right for them.
To communicate this exciting new package, Thomsons and Mundipharma launched a multi-channel, creative communications campaign. Videos, posters, emails, one-to-one sessions and town hall meetings hugely increased employee engagement with their new benefits!
Together, Mundipharma and Thomsons have succeeded in creating a benefits programme aligned to the needs of their employees and the business.
Employee engagement has been phenomenal – since the rollout of Flex, 96% of employees have ‘flexed’ their benefits. Surveys revealed that employees’ perception of the flexibility of the new offering has increased by 39.7%.
Employee turnover has reduced by 45% within 18 months, whilst the time to fill vacancies has reduced from a 50-day average to just 28. Furthermore, 90% of those who flexed their benefits regularly said they’d still “be working here in a year’s time”.
While the aim was simply to manage costs whilst creating business value, Mundipharma also reported savings of £75,000 in rebrokering and £587,000 in NI.
Thanks to our partnership with Thomsons and their innovative technology, Darwin, we were able to align our employees’ needs with those of the business. We now have higher retention figures, lower business costs and a flexible benefits package that can be truly tailored to individual preferences. The feedback we’ve received has been outstanding.
Of employees flexed their benefits
Increase in perception of flexibility
Reduction in employee turnover
In employee tax and NI savings
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