PricewaterhouseCoopers (PWC) considers several factors when deciding which benefits to include within flex.
Carolyn Wilkinson, benefits leader at PWC, says its flex plan includes perks that can make employees’ lives easier, such as travel insurance; look after the employee and their family, such as critical illness cover; and result in tax savings, such as bikes for work.
But the firm has removed benefits from flex that it considered may be better placed elsewhere. “We had pet insurance once, but removed it as it had low take-up and a lot of administration,” she says.
Wilkinson says PWC also moved retail vouchers from flex to voluntary benefits to give staff more flexibility in how they take up the perk.
This also helped to mitigate risk to the business after one provider pulled out of the market, leaving PWC to ensure it had enough vouchers to fulfil its commitment to staff who had chosen the perk.
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