We were approached by a Company within the Oil and Gas sector to design, implement and provide ongoing support of an international benefits programme for their multi-national workforce.
At the time of our appointment there had been an upturn within the seismic industry and the Company knew that if they were to be able to retain their existing talent and recruit new employees with the required skill sets and experience then they would need to have in place a benefit package that was competitive within their industry.
In working with the Company on the design of the benefits package a number of factors were taken into account:
- Current market place and the Company’s competitors
- Impact / perception of benefits once in receipt within the employee’s home country
- Offshore jurisdictions
- Benefit rules and eligibility criteria
Once a review of the current market and competitors had been undertaken the design of the benefits package was agreed upon:
- A non contributory Offshore Pension Scheme
- Group Life Assurance
- Group Accidental Death and Disability
- Group Long Term Disability on a limited Term
- International Group Private Medical Insurance
- Group Travel Insurance
We then obtained various quotations from the benefit providers and worked with the Board to finalise the budget before making final recommendations.
Due to the multinational workforce and the worldwide locations where they were working, ensuring that the benefits were effectively communicated and that all paper work was returned was going to be vital to the success of this project. Benefit packs were therefore produced and presentations were made to employees in 10 different countries.
We undertook the processing of all paperwork and ensured that all employees were enrolled within the benefits.
By the end of the project the Company had in place a highly competitive employee benefits package that met objectives by providing an effective recruitment and retention tool.
We undertake all of the administration of the benefits including renewals, claims and re-broking within the market, ensuring that the Company continues to have a cost effective, competitive employee benefit package that employees understand and appreciate.