The Society steps up colleague support with an enhanced benefits package and a one off payment of £1000.

The Society steps up colleague support with an enhanced benefits package and a one off payment of £1000.

The Society launched a brand new package of colleague benefits this week alongside an announcement to give every colleague a £1,000 payment in their April pay.

The Society has partnered with Mercer, our existing broker partner, to deliver an enhanced package of colleague benefits including Private Medical Insurance, Dental Insurance, Critical Illness, Cycle to Work and much more.

Head of People and Culture Lucy Burgess said, “The Society has been working to rejuvenate our approach to Pay and Reward to ensure the Society has a package that is competitive, fair and most of all supports our colleagues to ensure they can thrive today and tomorrow.

We launched our MyRewards platform with colleagues this week, and announced all colleagues will receive an additional £1,000 in their April pay. The recent and rapid increases to the cost of living are being keenly felt by colleagues and their families and we hope this payment will help alleviate some of the pressures associated with this.”

The Society is currently one year into an ambitious 5 year strategy to become a modern mutual.

Will Carroll, the Society’s Chief Executive Officer added, “Our colleagues are key to the Society’s success, without whom we wouldn’t be able to achieve our long term goals and deliver a sustainable business that benefits our members and communities. The Executive and the Board agreed that supporting colleagues in a practical way through the payment was the right thing to do.”

The announcement was made ahead of the Society’s annual reporting of accounts, due to be declared in June.

Senior People Partner Beverley Flood said, “Getting the package right was important, so we consulted with our Colleague Forum, Board and Exec team to understand how we could create an attractive package that benefited people at various stages of their life cycle. Colleague feedback has been positive and we are delighted that our People function have been able to deliver this great news.”