JLT Employee Benefits (“JLT EB”) is to conduct a strategic review of benefits across ThyssenKrupp UK plc as the Company seeks to align its benefits strategy to its business objectives in the UK and Ireland.
ThyssenKrupp UK is an existing client of JLT EB, currently using JLT EB’s global benefits administration platform, BenPal, for its group personal pension plan and auto-enrolment.
Following a recent change in corporate structure, ThyssenKrupp UK has established a ‘Regional Office’ of the global Company, having responsibility for engaging strongly with the local businesses to drive collaboration in the UK, including areas such as payroll standardisation, talent management, and Health and Safety.
One of the current challenges that ThyssenKrupp UK faces in their benefits strategy is the inconsistency in process and entitlement across entities. JLT EB’s Rewards & Benefits team were selected due to their experience in strategic reviews alongside the existing positive relationship with the business.
Dawn Spencer, HR Director of ThyssenKrupp UK, comments: “As an employer we are working on continuously being a reliable partner for all our employees. That includes a comprehensive benefits strategy. Now that we have a Regional Office in place, we want to take steps towards a more joined-up approach to HR activities for our 1,700 plus employees across multiple business areas. We have been working with JLT over a number of years and we look forward to working with its Reward & Benefits team to implement a new benefits strategy that supports our corporate ambitions, meets our employees’ needs, delivers communications effectively and creates value for ThyssenKrupp.”
Andrew Drake, Head of Rewards and Benefits at JLT Employee Benefits, says: “We are excited to be working on this significant realignment of the benefits offered to employees across ThyssenKrupp UK. Our expertise in this area coupled with our existing knowledge of the client’s business, based on our long term relationship, places us in an ideal position to ensure the benefits strategy implemented is one that is flexible and innovative, while addressing the challenge of ThyssenKrupp’s wide-ranging employee diversity.”
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ThyssenKrupp is a diversified industrial group with traditional strengths in materials and a growing share of capital goods and services businesses. Over 155,000 employees in nearly 80 countries work with passion and technological expertise to develop high-quality products and intelligent industrial processes and services for sustainable progress. Their skills and commitment are the basis of our success. In fiscal year 2013/2014 ThyssenKrupp generated sales of around €41 billion.
Together with our customers we develop competitive solutions for the challenges of the future in the areas Mechanical, Plant and Materials. With our engineering expertise we enable our customers to gain an edge in the global market and manufacture innovative products in a cost- and resource-friendly way. For us, technical progress and innovations, allied with the combined strength of the Group, are key factors enabling us to meet current and future customer and market requirements around the world, grow on the markets of the future, and generate strong and stable earnings, cash flows and value growth.
About JLT Employee Benefits
JLT Employee Benefits is one of the UK's leading employee benefit providers offering a wide range of benefit and pension services, including administration, actuarial and pension consultancy, investment, Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSASs) administration, flexible benefits, healthcare, benefit communication and financial education.
JLT Employee Benefits employs over 2,200 professionals throughout the UK and in 2013 had revenues of £172m in UK & Ireland.
Pensions and employee benefits companies within the JLT Employee Benefits group of companies include: JLT Benefit Solutions Ltd, Profund Solutions Limited, JLT Wealth Management Limited, JLT Investment Management Limited and Independent Trustee Services Limited. JLT Employee Benefits is part of Jardine Lloyd Thompson Group plc.
About Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson is one of the world's largest providers of insurance and employee benefits related advice, brokerage and associated services. JLT's client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 39 territories with some 9,000 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.