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Grand Prix

BNP Paribas
BNP Paribas

Thomas Hiles, group benefits manager at BNP Paribas

The prestigious Grand Prix award recognises the most outstanding entry among all of the category winners.

BNP Paribas was a clear winner for this award because of the sheer scale of its achievements, which were held up as an example by judges across the board.

Many employers would have been daunted by the task facing BNP Paribas’ benefits team. In order to achieve the organisation’s business aim of being ‘one bank’, it was necessary to replace seven different benefits schemes in seven different businesses each with its own workforce profile and culture with a single benefits package. If this wasn’t complex enough, BNP Paribas’ benefits team was also tasked with making more benefits available to more employees, while reducing benefits costs by £690,000 per annum across the group by 2016.

The judges were highly impressed with both how BNP Paribas’ benefits team approached the project, as well as the results achieved. As well as savings in the region of £4 million from collectively negotiating and consolidating insurance and supplier arrangements and savings on rollover costs, in 2015 national insurance savings of £3.4 million per annum will be realized, far exceeding the target £690,000 a year ahead of schedule.

The judges said: “Its entry was just amazing, particularly its honesty around the huge challenge it faced in having to deal with seven different HR systems and having to reduce costs in line with its corporate values. It consistently went the extra mile and really has the wow factor.”

The winner said: “We always work hard, but have worked extremely hard the last year and we have put a lot of pressure on ourselves. We have been asked to do some things internally but were giving a two to three-year time frame to do these and we did most in the first year. “We are still doing a lot and it is nice to be recognised for what we have done. We have we tried to get the best value out what we have and we have come out with some interesting ideas and benefits for staff. It is about getting the same thing out to the whole workforce, top to bottom. We have stuck to the strategy and this really emphasises that.”