In July 2014, AC were appointed to take on the task of providing a multi-national client with operations across 8 different countries in West, East and Southern Africa with a comprehensive review of the current benefits standardisation provided to its employees.
With the results of the review considered, AC were tasked to implement a solution which ultimately:
- Standardises benefits
- Dramatically improves the overall benefit offering while reducing costs
- Improves the operating efficiency of the provision of employee benefits across the board and thus mitigate the administrative burden faced by the company at group level
In order to do so, AC obtained quotes on an in-country, regional and pan-African level with four questions being constantly considered along the way, whether the solution:
- Achieves benefit standardisation?
- Maximises economies of scale?
- Is compliant with local legislation in each country?
- Achieves simplification?
In assessing the above questions once all quotes and market analyses were finalized, it was evident that one service provider with a solid foundation of partnerships in each country was the most advantageous solution.
Through the building of a strong relationship with the pan-African risk insurance service provider, we have implemented and continue to manage the provision of benefits in each country together with local management.
Furthermore, an effective communication strategy has been developed to ensure all employees are aware of their benefits, understand their significance and are afforded the opportunity to build their own financial literacy.