July 16, 2024

Newcastle Building Society registers with the Zest platform of benefits.

April 11, 2024
3Min Reads
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Zest, an employee benefits provider, and Newcastle Building Society, one of the biggest building society in the UK, have teamed to offer flexible benefits via Zest's user-friendly website.

The goal of giving colleagues at Newcastle Building Society visibility into all of their benefits and motivating them to examine them frequently was one of the main factors that prompted the organization to sign up for Zest's benefits platform. This includes encouraging its coworkers to actively assess their pension contributions; since the program's introduction, more than 11% of coworkers have surpassed projections by increasing their pension contributions, with an average contribution of 4% of salary.

Newcastle Building Society introduced many new perks, including a new Colleague Mortgage benefit that offers coworkers access to an affordable mortgage through the Society, in addition to introducing the new benefits platform.Over 5% of colleagues have already enrolled in this benefit over the previous six months, demonstrating how well-liked it has become.

Through the agreement, coworkers of Newcastle Building Society will have access to benefits through Zest's platform in one convenient location. They will be able to choose advantages that are pertinent to their individual circumstances, improving value for money and increasing competitiveness when it comes to luring in fresh talent.

Employers may increase employee engagement with benefits packages by using Zest's platform. 87% of coworkers at Newcastle Building Society logged in over the first three weeks, and during the previous six months, 99% of coworkers have logged in.

 

Additionally, the alliance gives employers more knowledge about which perks are effective for which employees, enabling them to customize benefits for various demographics and eventually boost employee uptake.

"By making it easier than ever to interact with their benefits packages, our partnership with Newcastle Building Society has already enabled hundreds of their colleagues to enhance their retirement savings," says Matt Russell, CEO of Zest. Employers are searching for innovative methods to address the varying demands of their workforce, and they require a user-friendly, intuitive platform that enhances value and enables businesses to provide individualized benefits without expending a great deal of administrative effort.

 

"Providing colleagues with their benefits in one place, on our Colleague Reward platform provided by Zest, has been a step change for Reward at Newcastle Building Society," says Ben Thomas, Head of Reward at Newcastle Building Society. Thanks to features like our total reward statements, the new platform has made it easier for us to communicate to colleagues what their reward package entails. Colleagues may now easily make adjustments and take charge of their perks thanks to the platform. Colleagues may now quickly and easily obtain the information they require thanks to features like "single sign on" directly into the platform and direct linkages with other services, such as our Colleague Recognition portal."

 

Zest has expanded its clientele in the UK with the addition of Newcastle Building Society, as companies seek to differentiate themselves in the competitive labor market and enhance their employee offerings.

Employee engagement has increased by 5% throughout Zest's customer base when compared to March 2023, and there has been a 50% rise in the number of users accessing the platform for the first time.

Numerous well-known companies, including Yahoo, NTT, Bakkavor, and Travis Perkins, presently use Zest's employee benefits platform and benefits services.

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