When WSP Australia required a new Novated Leasing partner, ORIX provided the support that made a previously complex process easier than ever.
WSP is one of the world’s leading engineering professional services consulting firms with 15 offices in Australia. Working in property and building, transportation and infrastructure, resources, water, power and environmental solutions, its teams specialise in project delivery and strategic consulting services.
A clear choice
Recognised as a Great Place to Work, WSP offers team members a range of benefits including Novated Leasing to provide tax-effective car financing. Always looking to improve the offer to staff, WSP wanted a partner that made Novated Leasing as simple as possible for employees, but also to reduce the load on the finance department. ORIX ticked both of those boxes, making the process clear and simple to understand and undertake.
“Pricing and transparency were the two main things that caused us to switch to ORIX. We weren’t happy with the way our previous provider priced leases – they weren’t competitive, or clear for our staff to understand,” says Adam Pegg, WSP Australia General Manager – Finance.
When it came to the quality of information and clarity of advice, WSP was impressed by ORIX’s offering.
“ORIX was also very flexible in the ways they could work with us. They could use some of our forms when staff were applying for a lease, and these little things took some of the pain away from the process.”
ORIX was also able to relieve the pain of managing multiple lease providers, by taking over any existing arrangements employees had with other companies.
By selecting ORIX as their Novated Leasing partner, WSP Australia has bolstered its employee benefits program, which is a distinct advantage when competing for specialised talent.
“With so many infrastructure projects, we’ve seen talent shortages across Australia. Having a broad benefits program that includes Novated Leasing is essential for standing out and attracting the right people,” Pegg says.
“For example, if want to attract a specialist project manager – the only person in the country who could run this project, they might insist on staying with their Novated Leasing provider as part of their package. That was previously painful for us, because we ended up with a number of other arrangements.”
ORIX was able to umbrella and manage those arrangements on WSP’s behalf, and from the employer’s perspective it functions like all arrangements are with the one provider.
“Even though ORIX is probably not doing as well out of it, they’re willing to do that in order to manage our program. That makes a huge difference at our end.”
Clarity and transparency
ORIX’s simple approach removed a lot of the friction with WSP’s Novated Leasing program, particularly with greater clarity of price and choice. If staff wanted to look elsewhere, ORIX’s offering was competitive, resulting in many staff members switching their lease.
Since partnering with ORIX in 2017 Novated Leasing is currently taken up by approximately 4% of WSP’s staff. This includes 25% growth in the past 12 months, as more staff members learn about the program or switch existing lease agreements to ORIX. ORIX has made a huge difference to the overall satisfaction rate of the program, keeping WSP staff happy.
“The feedback I’ve got is that it’s quite painless and quite easy to work with. I was getting complaints about the old company around pricing and comparing interest rates. I haven’t had any of those complaints or questions since we changed to ORIX,” Pegg says.
Value for all
WSP was looking for value in their Novated Leasing partner. Value for the company, and value for their employees. Since switching to ORIX, Pegg says he’s satisfied that they have a partner who is helping them save time in the setup and termination phase of leases, while adding to the overall experience of working at WSP.
“It’s valuable because I know that our people are getting a competitive deal every time and I’m not having to field queries with everyone’s lease. I know it’s a good arrangement that runs well and is transparent. That’s worth a lot.”