Financial services firm J.P. Morgan announced impressive results from a recent rebrand of their employee benefits scheme which saw the take up of their various benefits packages, including pensions, go up with 26% compared to the previous year.

The company had operated an unchanged flex plan for five years. But access to its benefits was previously split across various websites, and communications were perceived too technical.

Adam Brooke, vice-president of employee benefits at J.P. Morgan said: "Information about many of the benefits on offer to employees, including core benefits, was scattered across a confusing array of different company websites. This meant that employees were often not even aware of what benefits they had.

"Employees were not proactively engaged with their benefits so they, and the company, were missing out on valuable benefits and tax savings. We needed to go back to basics and develop an innovative approach to communicating and explaining our benefits."

Together with Vebnet, J.P. Morgan brought all retirement and other benefits packages to one website, called Elements, and made it more user-friendly. Enrolment first opened in February 2012 and within the first three weeks over two-thirds (66%) of staff had made active benefit choices. Before the rebrand the flex scheme's highest take-up was 40%.

Brooke said: "The fact that over three quarters of employees have logged onto the site at least once, if not necessarily to make active changes, instantly gives staff a better awareness of the total value of all their benefits – from core benefits and pensions to flex.

JP Morgan employs around 13,500 staff in the UK alone.

First published 01.05.2012

azeevalkink@wilmington.co.uk