Co-op Seeks Collaboration of Consultants And Peers to Measure Auto Enrolment ROI
18 October 2012 (PLANSPONSOREurope.com), NAPF, Liverpool – The Co-Operative Group will seek help from industry peers to develop a model to gauge return on investment (ROI) from the company’s auto-enrolment process.
At the National Association of Pension Funds conference in Liverpool, Gary Dewin , director of pensions at the Co-operative Group delegates the company had spent £20m on auto-enrolment but expressed frustration at many companies lack a meaningful method of measuring the benefits to the firm of such a large investment.
ROI includes savings to the company from staff retention and employees’ engagement with their work as a result of offering schemes.
Dewin told PLANSPONSOR Europe the Co-op will gather its own data initially by the middle of 2013 and could seek external help – from a professional communications consultant but also other companies undergoing auto-enrolment -with analysing collated data by the end of next year.
Dewin said: “It is a fairly new area. I don’t think a tremendous amount of work has been done on it.
“There is some great experience out there. There are some great people in the industry.
“It is a question of teaming up with them and sharing the experience.”
The Co-op’s staging date is next month with auto-enrolment going live in January 2013.