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 wide 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.
EXCLUSIVE: It has also redesigned its online benefits portal.
It is part of measures to help reduce annual costs by £250 million.
EXCLUSIVE: It has grouped benefits information in one place.
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The latest trends in flexible benefits.
Harmonisation resulted in a revamp of its benefits offering.
It moved its flex enrolment window and added new benefits.