A strategic approach to rewards helps Vinci restructure

Abstract

Purpose

This article aims to review how one organization – Vinci – leveraged a strategic and integrated approach to employee benefits to unify three different businesses, each with their own, different set of T&Cs, employee benefits and benefit providers. This work was undertaken in the midst of economic recession that put significant pressure on the business to retain and reward its people.

Design/methodology/approach

The article provides best practice case evidence that outlines how effective employee consultation and buy‐in was generated, employee communication was delivered and understanding of the new employment package was disseminated to staff.

Findings

The paper demonstrates the positive and far‐reaching impact of the work to unify employee benefits provision across these merging organizations. With over 99 percent of employees signing their revised T&Cs and employees making savings of over £500,000 in tax and NICs (National Insurance Contributions), the work undertaken at the organization has, understandably, had a positive effect on employee turnover and overall levels of engagement.

Originality/value

The article presents a first‐hand account of the work carried out to bring the businesses together and ensure the company could offer a strong and engaging employment and benefits package.

Citation

Jellicoe, C. (2012), "A strategic approach to rewards helps Vinci restructure", Strategic HR Review, Vol. 11 No. 3, pp. 156-161. https://doi.org/10.1108/14754391211216940