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.
EXCLUSIVE: It includes a 1% flex fund for staff.
Three and Mills & Reeve did so to streamline communications.
It can be offered via flexible benefits or salary sacrifice.
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Employee Benefits has published a report on the latest trends and topics in flexible benefits schemes.
Good communication needed to boost benefits take-up.
Five key things to bear in mind.
It drives flex engagement
It has found a variety of methods works best.