Analysis and Redesign of the Fringe Benefits at the BLKB
Offering employees the right fringe benefits is an important tool in increasing a company’s employer brand and consequently its Employer Value Proposition as well. Hereby, effective internal and external communication also plays a major role.
Catherine Forster, 2021
Bachelor Thesis, Basellandschaftliche Kantonalbank
Betreuende Dozierende: Erhard Lüthi
Keywords: BLKB, Fringe Benefits, Employer Brand, Employer Value Proposition, Sustainability, Flexibility, Effective Communication
Fringe benefits can have a high impact on employee attraction, motivation, retention, and productivity, as well as on employer attractiveness. Fringe benefits should express a company’s corporate culture and strategy as well as reinforce its values and goals. Sustainability is currently a significant trend in Human Resources Management as well as total rewards management. One way of designing fringe benefits in a sustainable way is by making them more flexible. To reach the biggest possible impact, an effective communication of a company’s fringe benefits package is key.
This bachelor thesis, in collaboration with the BLKB, attempted to analyze how the fringe benefits can be redesigned in a flexible way and be better communicated to enhance the employer brand of the BLKB. First, contemporary theories were reviewed. Thereafter, semi-structured interviews with bank internal employees were conducted and a quantitative survey was carried out. The gathered findings are examined and compared to create recommendations for improvement of the fringe benefits as well as the way of communicating them to enhance the BLKB’s employer brand and Employer Value Proposition.
The results of the qualitative and quantitative research revealed that the BLKB’s values and the employees wishes are consistent with the current trends and practices. However, the results also showed that the benefits are currently not yet fully in line with these ideas and values and could be communicated more effectively. Thus, recommendations such as further incorporating sustainability into the benefits package as well as making certain benefits more flexible by adding a few more options to choose from and therefore also decreasing discrimination were made. Additionally, adding a few benefits for health promotion should be considered. Furthermore, a single extensive source of information should be created, and benefits should be communicated frequently over several platforms to reach employees and candidates. To handle the administration and communication of the fringe benefits, additional personnel resources should be made available. By implementing these recommendations, the BLKB could enhance their employer brand through inclusion of their values like sustainability, simplicity, innovation/future orientation and market orientation into their fringe benefits package.
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: HR & Organisation