ppl benefits presentation

PowerPoint Presentation

PPL Benefits Package Review, Audit & Benchmarking Exercise

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Fran Nevrkla OBE

Agenda Who are PPL?

PPLs Approach to Engagement

PPLs Top 10 Priorities

Employee Benefit Review Project

PPL Reward and Recognition

Database Right, PPL, 2015. All rights in respect of copying, adaptation, re-utilisation or extraction of the data are expressly reserved. This data is confidential and commercially sensitive and is provided for use only by Permier Musik for its own internal business purposes.

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Who are PPL?



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PPLs Approach to EngagementPriority 1Deliver the Net Distributable Revenue target (revenue budget less cost budget)

Priority 3 Deliver a first-class licensee experience and continue to raise awareness of PPL with prospective licensees, consumer groups and trade bodies, the general public

Priority 4 Deliver a first-class member experience with enhanced accountability and transparency

Priority 5Continue to develop and deliver PPLs people Strategy



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PPLs Approach to EngagementFocus on action planning, involving and communicating with staff.

Pay and benefits review. The number one cause of dissatisfaction & leaver motivation.

Review & enhance personal & career development opportunities.

Further review & develop management skills.



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Why are the right benefits important?Benefits are an important factor in the attraction and retention of staff

Benefit packages can become outdated and unattractive and without regular review we could be over generous, not generous enough, or no longer relevant

Recognition within the business that employee engagement in general and with the benefits offering was low

We can invest a great deal in benefits but without employee engagement or relevance, we will not see a return on investment



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Benefits Review Approach (External)

Capita carried out an audit and review of PPL employee data and the benefits available together with demographic benchmarking to give a strategic overview of the benefits on offer and the benefits that we should offer in the future

Age, gender, marital status, income, etc. of a person has a significant bearing on their financial and social needs and decisions. An employees demographic profile directly influences: The types of benefits they would prefer to receiveThe types of benefits actually chosen when given the opportunityThe best way to communicate the existence of benefits

This approach enabled us to understand whether the individual component benefit plans and the overall package were still relevant to PPLs demographics, competitively benchmarked and in line with market best practice



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Benefits Review Approach (Internal)As well as using a benefits consultancy, we also needed to ensure that we looked beyond the data for a holistic approach. Matching like for like can lead to a bland benefits package offering no unique selling point, little impact and no hint of what PPL is about

A benefits survey was distributed company-wide to understand how the employees perceived the benefits package, what would be attractive to them and what was valued by them.

By establishing where we could make improvements and seeking out direct feedback made employees feel appreciated and motivated as well as manage expectations



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Findings

Not aware of monetary value of benefits

Earnings within PPL towards the lower end of the scale (47% earned between 10,000 and 27,000) - many of our benefits were salary linkedPPLs employee demographic is primarily young and with a nearly equal split of male and female populations. This did not match with our current benefit offering, which could be described as being appropriate for a middle aged, married male with children. In general, PPLs benefits package was good for its size but there was a need for design and scope of the benefits to respond to the needs of the PPL demographic84%



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FindingsMajority of benefits PPL invested in were being recognised by a small percentage and in the bottom half of the benefits valued by employees

The 2 largest service bands were up to 12 months service (26%) and 1-3 years service (30%). The majority of the core benefits were service related after 6 months, 1 year 2 years and 5 years service

Additional holiday with length of serviceMusic related benefitsFlexible workingTop 3 benefits employees were asking for were;



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OutcomeTo update the current benefit offering so that it was relevant to the companys demographicTo raise benefit awarenessTo increase understanding of the value of the benefits available 1. 2. 3.

Based on the findings from both the Capita report and survey results, a number of recommendations were presented to the Executive teamGiven the challenges PPL faced, 3 clear priorities emerged:



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Changes

Weekly fruit baskets implementedBenefit workshops provided to educate employeesIncreased holiday with length of serviceDecision to move to an Online Benefits platformQualifying periods reduced



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Music Studio Software Ive been using my new software to produce, record and remix tracks for the Dmode LabelMarcel Somerville Account Manager, PPO

Changes

Contribution up to 120 towards a music related activity

Total Reward Statements distributedMonthly benefit inductions to promote benefit choices

Social Committee formed with regular events



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Benefits Engagement



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Employee Engagement Award



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Other Engagement Initiatives

Pulse Monthly Newsletter

Quarterly Themed Comms Event



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Other Engagement Initiatives

Long Service Awards

How toWorkshops

Management Excellence Program



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ppl benefits presentation

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