How does Virgin Atlantic motivate its staff? (Pension (Offer employees a…
How does Virgin Atlantic motivate its staff?
Offer employees a chance to put money aside, so that they are able to have money for their retirement. They offer a flexible and portable pension plan.
Life assurance and dependents pension
Staff are able to know that in case of their death their family will be okay and have enough money to live on. The companies death service provides a tax free lump sum to the staffs beneficiaries and can also provide a monty income to their dependants.
The company provides long term income protection benefit in case they are unable to work due to an injury or illness.
Private medical plan
The company pay an annual premium for private health care for the staff and their family.
Scheme called Bike-4-Work
Staff are able to exchange part of their salary in return for the lease of a bike for work. This means that they don't have to pay income tax or national insurance on the price of a new bike, which means that staff are able to save between 32% and 42%
Staff are able to exchange part of their salary and request to purchase up to one extra week of holiday a year which gives them more opportunity to do things.
Season ticket loan
To help get staff to and from work , the company lend you the money for the season ticket cost which is interest free and then deduct it from your salary over 12 months.
Staff have the opportunity to have shares in the business
They offer a childcare voucher scheme via a salary sacrifice .
Staff store and salon
The staff have their very own store where there is a wide selection of lower priced things such as cosmetics, leisure wear, travel accessories and gifts. As well as this they have an onsite salon which offer discounted hair and beauty treatments.