Following last year’s successful launch of Barclays Beyond Benefits, Barclays has today announced the details of its work with Benefex to deliver a Flexible Benefits solution and its ‘Money Works’ portal to businesses and their employees.
The Flexible Benefits solution, which sits within the innovative Barclays Beyond Benefits online portal, supports the broader strategic consulting service which Barclays provides its clients. It enables employers to offer a greater choice of benefits, streamline administration and ultimately engage and retain talented employees.
The service has been designed using Benefex’s RewardHub® technology, an award-winning portal which manages all aspects of employee benefits, including flexible benefits, total reward statements, pension and voluntary benefits, plus all related administration, employee support calls and communications.
In addition to the Flexible Benefits solution, Barclays has worked with Benefex to design and build ‘Money Works’, a site within the Barclays Beyond Benefits offering which helps employees to be better informed about their own financial wellbeing. The portal provides a vast range of articles about managing finances and information about Barclays’ services, and draws on resources from The Money Advice Service, Life Academy and an independent journalist.
Katharine Photiou, Head of Workplace Savings at Barclays Corporate & Employer Solutions said: “We believe that a ‘one-size-fits-all’ benefits package is no longer a viable approach for today’s multigenerational workforce. Barclays Beyond Benefits allows employers to tailor packages to suit the differing needs of their employees and since launching last year it has been extremely well received by companies of all sizes. Flexibility is key and by working with Benefex we are able to offer employers the chance to design their own flexible benefits package which employees can then choose from to best fit with their lives.
“While employee wellbeing has been on employers’ agendas for some time, financial wellbeing is a relatively new area that employers have started to explore. The Money Works site is a comprehensive tool which enables companies to help their employees become better informed about their own financial wellbeing and what is available to help them while at work.
“Benefex’s extensive experience in the technology sector, coupled with its understanding of the employee benefits sector and our business, makes it the ideal partner to work with to deliver this solution.”
Gethin Nadin, Head of Strategic Alliances at Benefex added “Our development and User Experience teams have been working with Barclays on creating ‘Money Works’ for over a year and we are now excited to be strengthening the Barclays Beyond Benefits solution with the addition of our market leading RewardHub® technology and support services. This is an exciting combination of Barclays’ thought leadership and our award-winning technology and adds another significant client to our partnership portfolio.”