Qover, an innovative Belgian insurtech scale-up, revolutionized its approach to compensation in January 2024. We spoke with Laura and Maria, two HR professionals at Qover, about their experience with the Payflip flexible plan.
Qover
| Employees (BE) | 100 - 150 |
| Sector | Insurance |
Challenge
Our biggest challenges for 2024 are developing a solid career framework, training our middle management, and integrating sustainability into our HR policy, while managing our rapid growth.
Highlight
"At Qover, we don't just ensure the success of our partners and their clients, we also ensure the future of our employees with a flexible compensation plan that reflects our values and supports our explosive growth."
Where did the idea to put flexible compensation on the agenda come from?
"At Qover, we're always looking for innovations, including in our HR policy," explains Laura. "Our priority was mobility. We wanted to offer more flexibility to our employees, especially in terms of transport choices. Payflip won us over with its intelligent and innovative approach to benefits and salary optimization."
Maria adds: "The Belgian tax system is complex, especially for our colleagues from abroad. But the Payflip platform is intuitive and full of information, which allows everyone to find their way around. Employees really see the added value, and we hope that soon, everyone will use the mobility budget. We still have a few cars to convert into more flexible options!"
How does Payflip integrate into Qover's culture?
"For us, it's crucial that a partnership aligns with our values. Payflip's DNA perfectly matches Qover's: professional, innovative, but also flexible, friendly, and fun. We see this flexibility in the tool itself, but also in how the Payflip team interacts with our HR team and our employees. They are professional and friendly, which makes them very accessible. And they are innovative in their approach to benefits and communication. It's like having an insurance partner who really understands our compensation needs."
What do you think of the engagement in your flexible compensation plan so far?
"We are extremely satisfied. We launched the plan in January 2024 and today, 74% of our employees are participating 💜 We mainly focus on the number of choices made and the budget spent: 280 benefits chosen in 6 months and a total of 250,000 EUR optimized. We couldn't have dreamed of a better start!"
How much time do you dedicate to Payflip?
"We decided to dedicate time to the flexible plan and Payflip because it was important for us to master the subject in order to best help our employees put together the best benefit package. Getting familiar with the Payflip platform takes a bit of time, but it's pretty intuitive. And when you see the result, it's worth it.
Employees also need to familiarize themselves with the Payflip tool. But thanks to the chat function, we don't have to answer their questions ourselves – they can directly be in contact with a person from the Customer Success team. It's a real plus! 🚀"
What advice would you give to companies considering adopting a flexible compensation plan?
"Clear and consistent communication is key. We integrated Payflip with the intention of making our HR policy more modern and better reflect the company's values. Stay available for your colleagues, even if there are lots of questions. Trust is essential. Listen to feedback and adapt. Finally, keep in mind that adoption takes time, but the long-term benefits are significant."
