FLEXIBLE EMPLOYEE BENEFITS

To enhance staff retention more companies now wish to provide employees with a greater flexibility in their employment package. In its purest form Flexible Benefits allow employees to choose from a menu of benefit options provided by their employer. By acknowledging and recognising employees as individuals with varied needs and providing them with choices, both employer and employees benefit.

Tax issues

Driven partly by many successive budgets increasing the tax on "perks" there has been a pressing need to consider other employee benefits.

The benefit environment in the UK is complex and the tax implications of implementing a flexible benefit arrangement need to be carefully considered.

Communication

Managing any change to a new flexible benefit environment is dependent on good employee communication. Regent can help you design and deliver effective communication lines that supports any changes and educates your employees. These include: Delivery of group presentations Individual information and advice sessions supporting literature.

Designing a flex package

Learning from the United States, more companies are introducing a "cafeteria" of possible benefits so that employees can select those more appropriate for their circumstances, within a defined budget. Getting the right benefit package to suit your company needs careful design and planning. Some benefits will stay the same, new benefits will be introduced and others changed.

Regent can help with the design and selection of providers process, negotiating the costs, underwriting and any implementation and communication. For a demonstration of flexible employee benefits please click the Flexible Benefits Demonstration button.

For further information on Regents service to Pension Scheme Trustees please call 0845 880 0227 or contact us using the Enquiry Form.