International law firm Weil, Gotshal and Manges uses a consultant with knowledge of its industry to help calculate its salary sacrifice figures.
Thea Gaunt, head of human resources, says: “An employee benefits consultancy that has detailed knowledge of the industry can be invaluable to validate realistic figures. We work with consultants that conduct regular research and have extensive knowledge of the sector.”
The firm, which has 206 staff, launched a flex scheme in 2008. “Our consultants assisted with the design of our flex system, which allows access to provider reports and salary sacrifice management information,” says Gaunt.
The company does not use the savings to offset scheme costs, however. “The main savings come from the pension salary sacrifice scheme,” says Gaunt. “But the firm uplifts the employee pension with this saving, so essentially it is passed on to employees.”