Live Nation Entertainment Launches Online Employee Reward Strategy with Thomsons Online Benefits
Live Nation Entertainment has launched a new online total reward and flexible benefits scheme for all its permanent UK employees in conjunction with Thomsons Online Benefits.
- (1888PressRelease) September 03, 2010 - Live Nation Entertainment is the largest live entertainment company in the world consisting of five businesses: concert promotion and venue operations, sponsorship, ticketing solutions, e-commerce and artist management. Consequently they employ a diverse group of employees from office workers to stage crew across a number of different sites. Acquisition and TUPE activity including the recent merger of Live Nation and Ticketmaster had resulted in a myriad of different benefit entitlements and pension schemes, where there was often no consistency in provision to employees.
Following the selection of Thomsons Online Benefits, Live Nation Entertainment embarked on an ambitious journey to ensure that they delivered an Intelligent Reward strategy which would mark them out as a leader in benefits provision, in an industry sector where employee benefits are not commonly considered of high importance.
Brian Newman, International Human Resources Director, Live Nation Entertainment explains: "Previously benefits fell between HR and Finance and wasn't a key driver in our business. As an HR team we needed to establish the business case for bringing benefits into HR to hook in Senior Management, which meant ensuring that we would derive maximum value from our reward spend and proving a demonstrable return-on-investment. In addition we needed to build an integrated approach which linked reward with our broader HR strategy - to maximise employee environment, experience and reward".
"As well as these corporate goals, we wanted to ensure that we kept the needs of our people at the heart of what we were doing and particularly to offer them long term financial security and planning opportunities, this meant getting subjects such as pension planning onto their to do lists! At the heart of our business is an understanding of what our audiences want and my aim was to apply exactly the same principles this project for its intended audience - our hard working employees".
In conjunction with Thomsons Online Benefits, Live Nation Entertainment established the "Live Benefits" proposition - a recognisable brand that perfectly fitted their business, and provided a backbone for employee engagement throughout a period of continuous change. As well as introducing online total reward and flexible benefits, Live Benefits also offers employees a range of voluntary benefits such as cycle to work scheme, restaurant discounts and childcare vouchers. All benefits providers were also reviewed as part of the project which provided further savings opportunities and ensured best value against our requirements.
Brian Newman continues, "We are absolutely delighted that the vision we set out to achieve of transforming our reward strategy into something industry leading has been achieved. The launch has been incredibly well received by senior management and employees alike, with many employees making selections from the options available on the site, which shows the value it is adding to our benefits proposition; furthermore it gives us an excellent platform for future growth and change in our business. We look forward to continuing our fruitful partnership with Thomsons Online Benefits and further developing Live Benefits in the future."
Brian Newman is discussing the launch of Live Benefits at the Employee Benefits Live conference on 29th September 2010.
About Thomsons Online Benefits Ltd
Formed in 2000, Thomsons Online Benefits aims to help businesses get the maximum benefit from their employee reward schemes. With a unique blend of consultancy and technology, Thomsons create Intelligent Reward™ solutions. This allows businesses to reward employees, without the administration and communication headaches often associated with running such schemes.
Through a combination of innovation and quality, Thomsons has won winning 25 awards and attracting a prestigious portfolio of clients including Betfair, Cisco, Getty Images, GlaxoSmithKline, the Ministry of Defence, Royal Bank of Scotland (RBS), and Smith & Nephew. Thomsons Online Benefits currently service clients globally from their offices in the UK and Asia. Thomsons Online Benefits Ltd is authorised and regulated by the Financial Services Authority.
Further information can be found at www.thomsons.com
About Live Nation
Live Nation Entertainment (NYSE-LYV) is the largest live entertainment company in the world, consisting of five businesses: concert promotion and venue operations, sponsorship, ticketing solutions, e-commerce and artist management. Live Nation seeks to innovate and enhance the live entertainment experience for artists and fans: before, during and after the show.
In 2009, Live Nation sold 140 million tickets, promoted 21,000 concerts, partnered with 850 sponsors and averaged 25 million unique monthly users of its e-commerce sites. For additional information, visit www.livenation.com/investors
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