Ensuring its benefits offering is equitable has been at the heart of technical PR agency Stone Junction’s approach since shortly after it took on its first employee back in 2012.
Richard Stone, managing director, says: “At the time there was only myself and one other person but I was talking to someone in his early 60s, who I knew would be retiring in two years’ time, about joining us.
“Trying to provide a benefit that would be useful for a 62-year-old and a 23-year-old is incredibly difficult. I started from the position that I wanted to provide something that could be flexed, which would give people what they wanted, no matter what point of life they were at.”
Employees now receive a set number of its internal currency ‘sandwiches’, which they can spend how they like. Over the years, people have saved up to buy a car, sofas, an MRI scan or childcare, while others have chosen to put a cash amount into their pensions or to purchase vouchers.
“Most people use it for things they wouldn’t buy themselves, because they see it as guilt-free,” Stone says. “It levels the playing field across demographics, job grades and personal circumstances, and helps avoid resentment that can creep in when people feel they’re missing out on unseen perks or benefits that don’t apply to them.
Employees receive more sandwiches each year they are with the business, meaning everyone knows exactly what they will they get and why others may be receiving more or less than they are. “We’ve found that giving everyone access to the same flexible budget, which grows with length of service, builds loyalty without breeding unfairness,” says Stone. “People feel trusted, not tiered. And because the benefits are self-directed, there’s less need to explain why someone gets a particular perk that another doesn’t.”
The organisation has also put a strong emphasis on communicating how the scheme works, starting with the induction process when someone joins. “It means everyone understands what they’re entitled to and how to use it, which is essential for trust,” says Stone.
