Godwin Mgombane from Pipe and Climate Center.
Wolseley UK’s benefits scheme goes up a gear
Published: 14 November, 2014
Wolseley UK has recently updated its flexible benefits scheme, ‘Your Benefits, Your Choices’, to introduce a broader range of options – including a cycle-to-work scheme.
Following the successful launch of the scheme in January this year, Wolseley UK introduced the cycle-to-work plan in conjunction with Cycle Scheme Limited. The company has also announced the addition of AA breakdown cover and a Gourmet Society dining card as new options for employees.
Figures from Wolseley UK’s Reward team show that flexible benefits have been a big success, with 25% of employees logging on to the system the day the new benefits were introduced. The cycle-to-work scheme in particular has proved popular, with more than 140 staff selecting the option.
All Wolseley UK employees are given an additional 1% of their salary to purchase flexible benefits, such as dental insurance, life insurance and critical illness cover. Employees can also select to pay their 1% of salary into their defined contribution pension plan, or take it as cash.
Neil McCawley, head of reward, benefits and policy at Wolseley UK, said: “Our benefit scheme is part of our HR and reward strategy, and recognises the individuality of our employees and the fact they may require different benefits, depending on their circumstances. The cycle-to-work scheme is something that several employees told us that they would like to see introduced and so we listened to that feedback.”