• Africasia: free Insurance and Pensions Advice

Flexible Benefits

For many businesses, motivating and recruiting good quality staff requires more than paying competitive salaries and bonuses, or offering a basic range of other benefits. An increasing number of companies are re-evaluating their benefits packages to reflect the demand for greater flexibility and choice, as well as initiatives to help the work / life balance. However, the need to retain control of the costs remains a priority.

Flexible benefits can take different forms, geared to each organisation’s market, priorities and staff profile. Some may incorporate a fully flexible “menu” approach, whilst others retain certain “core” benefits and allow the staff to make choices with the remainder that can be tailored to their own personal circumstances. Salary sacrifice is also a popular and tax efficient option.

All packages include certain features, such as total reward statements, to help communicate the benefits and emphasise their value to the employee. Some add value to the HR resource by including holiday booking and absence management reporting.

In every case, a fully integrated online system ensures efficient and cost-effective administration

Free Pensions and saving advice for the UK

Whichever solution appeals, we adopt a structured approach to consultation, design, implementation and communication, project is managed through a number of defined stages:

  • Feasibility Study and Report – this includes an assessment of the organisation’s profile and objectives, a project plan for implementation, cost estimates and communication strategies.
  • Design – detailed reporting and agreement on the benefits structure and pricing, time-scale management, employment terms and conditions implications, and related planning issues such as submissions for Inland Revenue clearance.
  • Implementation – set up the administration platform with suitable links to HR and payroll, data cleansing, agree security and access levels, plus effective communication and training.

Our services continue after the implementation process has been completed, to provide our clients with ongoing benefits, including:

  • Proactive client and provider reviews, to maintain cost efficiency and reflect changes in company structure.
  • Ensure clients are kept up to date with legal developments and benefit trends, as well as evaluate new products and systems.
  • Revisit the communication strategy to promote staff loyalty and the value of the benefits package.