Voluntary benefits

Employee Benefits - Voluntary benefits

Voluntary benefits schemes enable organisations to offer extra perks, discounted products and services to the workforce at little or no extra cost to the company. These benefits are paid for by the employee, sometimes through payroll. Perks that attract an employer tax break can be offered through a salary sacrifice arrangement. It is advisable to get in a tax expert when you implement a salary sacrifice scheme. Most medium to large UK employers offer voluntary benefits (also known as affinity benefits). Affinity schemes allow a company to use bulk buying power to negotiate product discounts on popular products and services.

Definitions of common voluntary benefits terms

Key research on voluntary benefits

 

 

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Analysis

Motivating staff in the recession

As the recession puts pressure on pay and jobs, reward schemes can play a vital role in keeping employees motivated, says Amanda Wilkinson. With pay increases and bonuses no longer an option for many employers, compensation and benefits professionals are having to think long and hard about how to motivate staff who feel insecure about their job security and are being asked to pick up extra work created by redundancies.

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01 Jun Employers must beware of salary sacrifice pitfalls

01 Jun Safeguarding personal employee data must be a priority

01 Jun How tax-efficient perk save money for employers and staff

01 Jun Nottingham City Council gets maximum value from salary sacrifice

01 Dec Employee Benefits Voluntary Benefits and Salary Sacrifice Supplement 2008

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