Flexible benefits
Flexible benefits schemes enable employers to allow staff to select the benefits that suit them. Known as cafeteria benefits in the USA flex is seen as a popular way to integrate benefits packages during mergers and acquisitions and at other times of company change. Flexible benefits schemes can include a wise range of options for staff to select from, including tax-efficient benefits such as childcare vouchers and mobile phones or salary sacrifice pensions contributions. The growth of technology means more providers and consultants in the market have reduced costs and bespoke flexible benefits plans have become increasingly popular as a means of offering more tailored employee choice.
How to manage flexible benefits
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News
NEC Group revamps flex scheme
NEC Group has switched providers for its flexible benefits scheme, has moved from a paper-based to online plan and extended the scheme to all employees.
01 Sep Pepsico peps up its perks
01 Sep Black and Veatch shakes up flexible benefits scheme
01 Sep Bluefin to launch flexible benefits product for SMEs
01 Sep Kingsley Napley puts flexible benefits online
03 Aug European Court confirms VAT due on retail vouchers in salary sacrifice
Analysis
Case Studies
Case Study: EC Harris
Property consultancy EC Harris allocates a pot of money for employees to spend on benefits through its flex scheme each year. Staff receive a fund of between £400 to £3,000 a year, depending on their seniority.
01 Sep Case Study: Towry
01 Sep Case Study: Subsea 7
02 Jun Case Study: Azzurri Communications
28 May Cripps Harries Hall adds flexible benefits scheme
01 Mar Philips rebrands flexible benefits plan and moves to new provider
Research
UK divided by benefits
The UK is a nation divided by benefits, according to new research from Vebnet. The survey of UK employees found that as well as variations between genders and age groups, benefit choices also differ greatly between regions.
01 Mar Employee Benefits/Towers Watson Flexible Benefits Research 2010
01 Mar Research 2010: alternatives to flexible benefits
01 Mar Research 2010: structure of flexible benefits schemes
01 Mar Research 2010: flexible benefits on offer
