Cloud8 is expanding its employee benefits offering as part of its talent retention and reward strategy.
From 1 June, the company will increase its pension contribution by 2%, taking it from the minimum employer amount of 3% to 5%.
The business will also introduce clear training budgets for all staff, full body health screens and the option to sell holiday. Additionally, individuals will be able to take up two volunteer days and purchase technology through salary sacrifice, with the chance to spread the cost over the year.
The employee benefits platform decided to implement the measures following feedback from its workforce.
CEO Dipa Mistry Kandola explained that the company’s values are focused around “making things better for all involved”, recognising the importance of ensuring employees felt connected and subsequently reviewing its rewards.
She said: “Following internal feedback from our ENPS [employee net promoter score] survey, we undertook a reward strategy review to ensure we continue to provide the best offering we can to our employees.
“As well as offering benefits that they can pick and choose to suit their lifestyle, providing flexibility and choice, we also looked at ways we could take care of our people through health, wealth and wellbeing focused initiatives. To build on this we have also started to plan for our people’s development by investing in their growth for the future.”
The new benefits complement the existing company offering of a health cash plan, critical illness cover, life assurance and income protection. To help with day-to-day expenses, it also provides access to shopping discounts and “lunch and learn” workshops.
In terms of leave, Cloud8 provides 27 days of holiday (excluding bank holidays) and a birthday day off. It also has in place a number of policies including family leave, hybrid, health and safety, equal opportunities and anti-bribery, as well as standard grievance, disciplinary, sickness and holiday.
The new initiatives follow the introduced of a £1,500 referral bonus in March to encourage people to network and support the recruitment of three key hires to the business.
