media centre: vanco wins award for international online flexible employee benefits strategy
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May 2004
Vanco wins award for international online flexible employee benefits strategy
Vanco plc, the global Virtual Network Operator, has won “Most Effective Use of an International Benefits Strategy” in the Employee Benefits Awards 2004 for v.choice, its innovative employee benefits scheme.
The scheme, developed and managed by thomsons online benefits, was launched in April 2003 across eight countries simultaneously. v:choice was the first online international and multi-currency flexible benefit programme, and has played a central role in enabling Vanco to recruit and retain its employees.
Following the implementation of v:choice, 85% of Vanco employees were glad that the company had implemented v:choice; 60% said v:choice made them feel more positive about Vanco; and over two-thirds believe the quality of benefits offered is “good” or “very good”.
Following initial success, the scheme was extended in early 2004 to cover additional regions in the Czech Republic and France. More benefit choices were also added to keep the programme exciting and fresh, examples include gym membership and childcare vouchers.
Simon Hargreaves, Group Finance Director, Vanco plc, said upon collecting the award; “Recruiting and retaining absolutely the best people has always been, and will continue to be, key to the success of our company. With v:choice we have an innovative employee rewards system in place which works on a global basis. As such, we see it providing us with significant sustainable competitive advantage.”
Chris Bruce, Technology Director, thomsons online benefits, added; “We are immensely proud of what we have achieved with Vanco in the launch of v:choice. Receiving this award cements v:choice's position as the leading online global reward programme.“
thomsons online benefits scoped, built and tested the initial multiple currency online solution in less than five months. Appropriate benefits were sourced in each country, ensuring that local cultures and legislation were not infringed. Presentations were given to employees in each country, followed by individual meetings to explain their benefit options and the system. Each country was provided with a local adviser to help explain personal benefits and to act as a source of local help on an ongoing basis.
The web-based platform designed and built by thomsons online benefits was critical to the success of the project and enabled Vanco to communicate complex and varied benefit options across the globe.
Ends
About Vanco
Established in 1988, Vanco plc (FTSE: VAN) is the leading global Virtual Network Operator. With solutions available in 230 countries and territories, Vanco is selected by the world's largest organisations to provide strategic network solutions. Its customers include Avis Europe, Virgin Retail, Ford Motor Company, Pilkington, RMC Group and Smith & Nephew.
Through the Vanco network solution customers get access to the greatest geographic coverage available through a single provider. Vanco offers incomparable flexibility to customise and adapt the solution in line with market changes and business priorities.
Vanco is recognised by the industry for its financial success and world class customer service delivery. A significant proportion of its investment capital goes into customer care which is reflected by the awards won, independent market research and customer retention.
For more information please visit our website www.vanco.info
For further press information, please contact:
Andy Brown, Vanco
Tel : +44 (0) 20 8636 1721
Email: andy.brown@vanco.co.uk
Web site: http://www.vanco.co.uk
For more information on thomsons online benefits contact:
Caroline Shenton
thomsons online benefits
Tel: 020 7808 7588
Email: cs@t-bx.com
www.thomsonsonlinebenefits.com
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