TalkTalk

TalkTalk is a leading value provider of fixed line broadband, voice telephony, television and mobile services to consumers and businesses with four million customers across the UK.

Background

Following the acquisition of companies such as AOL Broadband and Tiscali UK, TalkTalk inherited a number of widely varying contribution structures to their Group Personal Pension (GPP) schemes. This made the administration of their GPP schemes a hefty task.

In 2013 they introduced one contribution structure to ease administration and streamline the process. At the same time they launched the harmonisation of their 1,600 legacy employee terms and conditions of employment, which were covered by 20 different contract variations. And with preparation required for their auto-enrolment staging date, brought forward from 1 August to 1 April 2013 to align with the wider harmonisation project, TalkTalk were going to have to be very good at multi-tasking.

With our support, a programme of change known as ‘Creating one TalkTalk’ was launched.

The challenge

TalkTalk recognised that they needed to provide clear information on several different topics simultaneously, to ensure their employees could make the right choices.

There was a lot of complex information to get across in plain English, such as how the pension structure would be aligned, enabling all employees to receive the same company contribution. They needed to explain how the harmonisation of benefit features would affect individuals and how the Private Medical Insurance contributions and compensation would work in relation to the five new job bands. Then there was the question of explaining why all employees were required to sign new contracts which included salary sacrifice, redesign of benefits strategy, group and individual pension consultation where applicable. In addition, TalkTalk needed to promote exciting new benefits and encourage take up.

Our solution

Online technology ensured that information could be delivered 24/7/365 through a bespoke pensions and employee benefits portal. A communications campaign consisting of intranet updates, a weekly email bulletin, weekly employee forums and company presentations meant that no-one would be left in the dark about the changes.

The online portal provided auto-enrolment functions and access to pre-retirement planning, educational e-tools, contribution history at any time to investments and values TalkTalk’s employees were clear what they needed to do, when and why.

One easy click gave employees access to 16 benefits including discounted TalkTalk products. The fact that flexible benefits and auto-enrolment was quick and easy to navigate meant the take-up was a resounding success. More importantly employees felt more valued by the company, and ultimately the company benefited financially through reduced administrative burden.

The outcome

Through the launch of ‘Creating one TalkTalk’ the company successfully met their auto-enrolment duties, plus achieved consistency and simplicity in the delivery of benefits and rewards to their employees.

Our consultants worked with TalkTalk to produce the following results:

  1. 1,127 employees auto-enrolled ahead of the original August staging date
  2. 1,906 employees in the pension scheme
  3. 33% to 89% increase in employee participation
  4. 550+ employees contributing more than minimum level
  5. 2,085 employees logged in during first month
  6. £449,000 savings made through salary sacrifice
  7. 1,476 employees made an active choice towards benefits

The harmonisation exercise delivered beyond expectation with just one individual opting not to sign the new terms and conditions.

Capita Employee Benefits understood the very DNA of our company which is why ‘Creating One TalkTalk’ was such a fantastic success for all our employees. With quick and easy access to flexible benefits and auto-enrolment options the take up was a resounding success.

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