Employee Benefit Consultancy
Some companies want to offer their staff more than simple compliance with Auto-Enrolment guidelines.
These pro-active and visionary employers realise that the profits they have would be much better employed ensuring that their staff are highly motivated and therefore highly productive.
With all companies being forced to offer a company pension now, your additional benefits will be a real part of the consideration of your staff and it becomes really important in the case of recruitment and retention to offer an affordable and comprehensive suite of employee benefits.
The real difficulty here is deciding on the shape of employee benefits that is effective and which employee benefits you wish to offer.
The phrase ‘a job for life’ is not employed very often in the 21st Century. However, the fundamental part of employing someone for life is what you can offer them for when they want to stop working.
The pension can be the entirety of your employee benefits package. Some firms can still afford to run final salary schemes, which are by far the most expensive types of pension to operate.
Some firms, however, offer the basic pension as required by the Pensions Act 2008 and instead focus on offering other benefits to their employees.
This includes policies such as group life insurance, group income protection or even group private medical insurance.
Again, some companies fund all of these for their staff, and some offer their employees access to the purchasing power of a group risk scheme which can shave hundreds of pounds off their insurance premiums.
Some employers, maybe due to their size or due to the employer paying, can offer perks such as discounts and high street vouchers and childcare vouchers etc.
We can advise on a number of financial services products which will ensure that the employer gets a good deal and the employee gets a package of benefits to ensure they are motivated, proactive and productive.
Access to Advice
For most of our companies accessing the full employee benefits service, we offer one or more surgeries per annum to the company. This means that all your staff get the opportunity to have access to an adviser several times a year.
In addition to this, we can offer different layers of service to different segments of the business.
For instance, some companies have their Directors receiving the full range of benefits and their staff receiving simply a pension. However some companies have quite the opposite attitude and have the basic staff receiving more benefits.
If you would like to discuss this topic further, or wish to see if you can construct some embedded value in your HR policy, then get in touch to have a real expert in your corner.