Leader Team Broker, operating on the insurance market in Romania, has created a service aiming to improve the degree of retention for the employees in key industries.
By a high level of benefits customization, to make them relevant for the employees, and by a matrix of costs efficiency for the companies, the program is able to rise the retention rate by 20% -25%, and to save up to 40% of the budget invested by the company in extra-salary benefits.
It is the first time when an insurance broker initiates such a program and involves key players from human resources, legal and GDPR consultancy, in order to create a unique program, meant to streamline the budgets of the companies and help them adjust the benefits to the real needs of the employees.
“This audit program is necessary, as it involves an in-depth examination of the benefits plan offered by the HR department. This tool gives the auditor the arguments to recommend the solutions to improve the efficiency of the existing programs to the management team. The audit has a 360 degrees approach as in such projects we involve lawyers, HR specialists, GDPR and tax specialists. In addition to cost savings, such an audit reduces the risks to which the company is exposed” states Alexandra Durbacă, Executive Director of Leader Team Broker.
As recent studies show, after the relation with the direct manager, the extra salary benefits are the second cause for which people tend to leave jobs, and the decision is made based on their vision of the report between the work done and the award received.
“First of all, during the audit we want to listen to the employees, to understand what they want and what is the reason for which they chose to work for this company. Secondly, we want to find out what motivates them, what is the environment they came from, how we can assist them better in understanding the organisation and, especially, if they know what their role is“, declared Bogdan Oprea, Managing Partner Aventurine Romania.
There are 2 main classes of benefits, the high risk ones, which are benefits that also cover a risk to which the company itself is exposed (training programs, health insurance) and low risk benefits, focused on motivating the employees (gifts, healthy bar – fresh fruit, gym subscription etc.).
“The new fiscal and GDPR background put serious pressure on the type of benefits that can be given to employees. Nowadays the implementation of a new benefit must be analysed together with a GDPR specialist and a fiscal adviser”, adds Alexandra Durbacă.
The benefits auditing program targets companies with thirty up to a few thousands of employees, and it is aimed mainly at the most affected industries IT&C, aviation, BPO but also banking or FMCG.
The program includes 3 stages, data gathering from the existing program of benefits, reporting and presenting the results and proposals to the management.
The program was launched within the event Strategies for Employees Retention and Extra Salary Benefits, which took place on 18th November and is part of the series of conferences organised by Leader Team Broker for HR specialists.