Article date: 16 December 2010
- Online service lets employees view and manage work benefits
Aviva is strengthening its position in the workplace savings market by launching Total Reward Statements - an online, personalised record that lets employees understand the value of benefits provided by their employer.
Total Reward Statements will be offered alongside group personal pensions. They will carry individual companies’ branding and give staff a personal statement of their benefits package including salary, bonus, pension, medical insurance, health screening, life and critical illness insurance, car allowance and holiday.
Information is presented in graphical format so that employees can see a consolidated reward statement and have access to more information including benefit descriptions, booklets, and application forms if required.
The technology is provided by Staffcare, an award-winning employee benefits software-company that licenses its technology to many of the UK’s leading employee benefit consultants and corporate advisers.
Paul Goodwin, head of pensions marketing at Aviva, said: “Aviva’s Total Reward Statement is ideal for employees because it enables them to better understand the value of their workplace benefits; the advantage for employers is that it improves staff engagement. An increasing number of employers are using Total Reward Statements and entering the workplace savings market. We expect that this will be a growing market over the next few years, and one in which Aviva will play a leading role.”
Phil Hollingdale, Staffcare’s founder and CEO, said: “We are seeing an increasing demand for our software as companies seek to improve their return on the money they spend on staff benefits by raising employee awareness and appreciation through online total reward statements. Many companies recognise that they could do a better job of communicating benefits to employees and old methods of communication such as printed handbooks and face-to-face meetings do not meet the demands of today’s internet-savvy employees who are used to information on demand.
“Many leading employee benefit consultants and corporate advisers have already embraced our software. Aviva is the first product provider to license our software and we are excited to be working with them.”
If you are a journalist and would like further information, please contact:
Telephone: 01904 452659 / 07800 693187
Philip Hollingdale, Staffcare Limited
Telephone: 07831 362925
Notes to editors:
Aviva is one of the world's largest insurance groups* with 53 million customers worldwide and 46,000 employees. Aviva’s main activities are long-term savings, fund management and general insurance, with worldwide total sales of £45.1 billion and funds under management of £379 billion*.
In the UK, Aviva takes care of its 19.2 million customers by helping them look after their future, protecting what’s important – from their health to their homes, their cars to their business – and saving for the future.
Aviva has a 10.5%** share of the UK life and pensions market and insures one in six homes and one in 10 cars in the UK. It is also one of the oldest UK insurers, with a heritage stretching back more than 300 years. RAC, which is owned by Aviva, provides breakdown and insurance services for individuals and businesses and has around seven million customers.
Aviva is carbon neutral worldwide, and is ranked in the top 10% of socially responsible companies globally by the Dow Jones Sustainability World Index. In the UK, Aviva invested £3.8 million into local communities in 2009. Read our corporate responsibility report at www.aviva.com/cr.
Aviva’s global Street to School programme is working in partnership with Railway Children in the UK to get children living on the streets back into education and everyday life. Find out more at www.aviva.co.uk/street-to-school.
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* based on gross worldwide premiums at 31 December 2009
** Source: ABI data released August 2010