Stuart Gentle Publisher at Onrec

London Stock Exchange selects 4th Contact

to ensure benefits are valued in City

Online flexible benefits system designed and powered by 4th Contact

The London Stock Exchange is launching one of the UK''s most innovative online flexible benefits systems for its financially-astute employees by using 4th Contact''s Working Wealth software. The online technology will manage and communicate benefits, including the complex share schemes. It will also help the Exchange transition to a flexible benefits system for over 500 staff in January 2003.

Benefits ownership is extremely important to us as an
organisation, comments Tim Wright, Head of Human Resources at the London Stock Exchange. We need to communicate our benefits effectively to ensure employees know exactly what their benefits are worth now, as well as in the future.

The City of London attracts dynamic and driven people and the Exchange offers a benefits-rich package to help motivate employees. The organisation now wants to ensure that the package is understood, valued and controlled at a personal level.

The new benefits system will form a key role in the attraction and retention of the people with the right expertise. People with a variety of skills are employed to work in business development, product management,
compliance, administration, IT, management and analysis.

''Flex'' will be launched to allow employees to select benefits that suit their lifestyles. Previously, employees with a family or those with no dependants were automatically given benefits by the Exchange to suit their
individual circumstances. The new flexible system will enable employees to choose their own benefits each year.

The Exchange''s benefits include a discretionary bonus linked to individual and company-wide performance, a non-contributory pension scheme, a season ticket to cover travel expenses to work, private healthcare, life
assurance, 25 days'' annual holiday, gym membership, company cars, and season ticket loans. There are also a number of share plans for employees, and 4th Contact''s Working Wealth software will pull the values directly from the Exchange''s stock prices on the internet, so true share values will be shown.

Wright explains, We selected Working Wealth as it eases HR
administration, provides the flexibility to customise, and is attractive to employees. 4th Contact has built a track record - it has clients and the system is working.

Richard Blundell, marketing director and co-founder of 4th Contact, adds, The Exchange has been producing an annual Total Rewards Statement which had taken about a week to prepare. However, they wanted to make sure their people could really understand and value their benefits all year
around. Now, employees can log on to the internet at any time and simply check their shares, holiday entitlement or life assurance levels - in short, truly interact with the benefits that suit them.