So, who benefits from flex?
Ask a typical employee in a typical company to tell you the range of benefits on offer to them and the chances are they will not be able to tell you. This applies to small companies as well as large. Much time and effort is wasted by HR teams and management who have introduced valuable benefits but have seen low take up, due to ineffective or disjointed communication. A benefits platform keeps everything in one place, in a consistent format, and is there for all to see 24/7/365.
The Value of Flexing Benefits
One size truly doesn’t fit all, so empowering employees with choice fundamentally makes good sense. Some recent examples when our class-leading flexible benefits platform, Benefit Select has helped staff members with their own individual benefits needs include:-
‘John Davis in Accounts wanted to take his wife on a cruise to celebrate their silver wedding anniversary, so he was delighted to be able to increase his holiday allowance by 1 week through Holiday Trading’.
‘After receiving advice from her Financial Adviser, Sheila Smithson (Head of IT) knew that her pension pot wasn’t going to deliver her a comfortable retirement, so she flexed her pension contribution from 5% to 10% using the Smart Pension module, getting immediate higher-rate tax relief and benefiting from National Insurance savings.’
‘Jenna Coombes (Marketing Assistant,aged 26), was less interested about providing for the future, but loved the 50% saving she achieved on her new bicycle through Cycle to Work, and was impressed with the 10% discount she received off her Apple computer through Advantage discounts.’
Fair Care is a highly experienced operator in the flexible benefits field, creating effective and targeted packages of benefits for employers of all sizes, throughout the UK.