How can flexible benefits help support your employee engagement?
According to our Benefits Design Research 2023 in association with REBA, 85% of employers plan to introduce or increase their choice and flexible benefits offering in the next two years. Have you started to think about your own flexible benefits strategy?
Flexible benefits allow employees to individually personalise their benefits to what works for them and their family’s needs and lifestyle rather than a one size fits all offering. It offers them the choice to exchange part of their salary for a benefit, with the cost usually spread across a set period.
Whether it’s someone looking to buy additional annual leave, dental plans, cycle to work schemes or looking to get fit with a gym membership, flexible benefits enable each individual to choose which benefits they prefer and work for them. Thus creating a happier workforce and potentially increasing your staff retention and motivation.
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How do I offer flexible benefits to my employees?
Choosing the right technology is a key part of implementing a flexible benefits strategy, enabling you to offer your benefits through a branded platform. Choosing the right platform for your business will show your employees you value them at work and outside work – potentially improving your employee engagement.
With more employees working remotely, giving them access to a platform allows them to access their benefits at any time and any place. It will also make your life easier, giving you all your reporting and administration in one place.
How we can help
The most important consideration before implementing a flexible benefits platform is to understand your workforce and their needs. This is where we can help and our award-winning team are highly experienced in every step of flexible benefits.
We will start by helping you understand the challenges of your current benefits programme and whether flexible benefits are the right course of action to achieve your goals.
If flexible benefits is the right approach, our team can provide a specialist service including benefits design, choice and brokerage, platform build and employee communications, plus ongoing support to clients and their employees.
If you’re new to flexible benefits, contact us for a confidential, no-obligation conversation.
If you already have flexible benefits in place, we can review your current strategy to see if it is delivering best outcomes for your business and your people.