How can employee benefits be more effectively internally promoted at the Swiss private bank?
One of Switzerland's leading private banks offers its dedicated employees a wealth of diverse and substantial benefits. However, the internal communication strategies and promotion of these benefits must be improved to further increase employee satisfaction, engagement and retention.
Maili Fagagnini & Thanthara Dräyer & Seya Küng & Sultan Selbisu & Begard Hosseinzadeh, 2024
Art der Arbeit Projektarbeit/Praxisprojekt
Auftraggebende Bank Julius Bär & Co. AG
Betreuende Dozierende Ergenzinger, Rudolf
Keywords Employee benefits and its communication strategies
A Company's benefits programme is more than just a list of perks. It is a tangible expression of the company's appreciation for its employees. However, current strategies are not entirely effective due to its exclusive use of jargon and reliance on a single communication channel - the intranet. This makes it challenging for the diverse workforce to fully see all the benefits available. Using a more inclusive and jargon-free communication style can improve employee perception of the com-pany's value and increase benefit program uptake.
The project team conducted a survey among the company's employees to assess their awareness, usage, preferences and feedback regarding the benefits offered by the company. Based on the survey results, they developed a benefit concept categorized into three pillars: Health & Wellbeing, Lifestyle and Retail Discounts. It is recommended improving communication channels, formats and frequency of benefits information. Employee have mentioned that they prefer benefits that meet their needs and expectations. Additionally, feedback of the preferences for the company's canteen has been gathered.
The survey conducted reminded employees of the company's benefits. They're happy with them, but there's a lack of awareness. Employees expressed a preference for flexible, personalized, and transparent benefits that meet their needs and preferences. They also expressed a desire for improved communication channels and guidance. The survey results provide valuable insights into employees' needs and expectations and highlight areas for improvement. The company can improve its internal communication strategy to increase employee engagement and satisfaction with the benefits programme. They can also improve the way benefits are presented to ensure that employees understand the benefits available and how to access them. Fostering a work environment that values employees contributes to the success and reputation of the organization. The implementation of the proposed benefits concept, supported by 3 pillars: Retail, Health & Wellbeing, Lifestyle, is expected to increase employee awareness of benefits, thereby improving employee engagement and loyalty. With regard to the onsite canteen, there are mixed opinions among employees as to its importance, quality and price.
Studiengang: Business Administration International Management (Bachelor)