Flexing and caring
The Goodwill Factor
Show you care! Employees will respond very favourably if flexible benefits are well delivered. Many companies are now considering launching or relaunching (with new branding) flexible benefits as a way of uniting their staff. Tough trading conditions, redundancies, business acquisitions and mergers, can upset good relations. We have experienced much of this in recent times. Flexible benefits can be effectively used as a way of improving relations, harmonising benefits and giving the business one voice.
There is a growing school of thought that thinks employers will need to become far more responsible for educating their employees in financial matters. As IFA’s change their working practices and become more fee-driven, it is expected that quality, independent financial advice will become less accessible. Employers can help significantly by using the benefits portal to house relevant financial product information, providing employees with a valuable source of advice. In the future, benefits platforms will be able to integrate with interactive advice solutions, which are being developed by certain of the pensions and insurance providers.