Newcastle Building Society is now able to show its employees all of their benefits and urge them to evaluate them frequently after it joined the Zest benefits platform. It can now actively assist its workers in assessing their pension contributions thanks to this action.

Beyond estimates, more than 11% of coworkers have boosted their pension payments since the launch, with an average contribution of 4% of salary.



Newcastle Building Society aimed to expand its benefits offering in tandem with the launch of the new benefits platform. Among the new benefits introduced was the Colleague Mortgage benefit, which offers coworkers a competitive mortgage facilitated by the Society. This benefit has proven to be well-liked, as more than 5% of colleagues have already enrolled in it over the previous six months.

Through the agreement, coworkers of Newcastle Building Society will have access to benefits through Zest's platform in one convenient location. This will aid them in benefit selection, improve value for money, and increase their competitiveness when luring in new talent.
 

"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," said 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.

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


assisting workers in "taking control of their benefits"

Ninety-nine percent of colleagues at Newcastle Building Society have logged on over the past six months, with eighty-seven percent of them doing so in the first three weeks.

"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," added Ben Thomas, head of rewards at Newcastle Building Society.
 

Thanks to features like our total reward statements, the new platform has made it easier for us to explain 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 interfaces 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.
 

There has been a 50% rise in users using the platform for the first time and a 5% increase in employee engagement throughout Zest's customer base when compared to the same period in March 2023.