A Flexible Benefits scheme enables employees to have the option of selecting products and a level of benefits appropriate to their individual needs.

Backed up by our advanced technological solutions and streamlined administrative processes, you can offer your employees a range of products and services to suit the needs of both you and your staff.

With our comprehensive, multi-channel solution, you benefit from:

• Ongoing administration
• Scheme reviews and enhancements
• Optional consultancy services and marketing expertise
• Secure facilitation of complex administration
• Full company branded interfaces and communications
• High quality scheme implementation
• Flexible software platform, with segmentation capability
• Optional total reward statements through an integrated portal

Our experience in handling complex administration means you can have confidence that our tailored, end to end solution meets your changing needs.

Benefits to you, the employer

The main benefit of launching a flexible benefits scheme will differ from one company to another dependent on your HR strategy.

Potential benefits for you as the employer include:

• High quality scheme implementation
• NI savings on many products, including pensions, childcare vouchers and bikes
• Harmonisation of reward subsequent to a company merger or acquisition, by using flexible benefits to align the benefit offering across combined operations
• Reinforcing a change of culture by shifting the total reward focus away from basic pay
• Greater employee understanding of value of benefits, through their ability to put a financial value to each part of their benefit package
• Improved staff retention through greater appreciation of benefits
• Control the rising cost of providing benefits by placing an overall limit on the value of a package
• Become an employer of choice and attract the most talented job candidates through the provision of a specially selected range of tailored benefits
• Involve employees in the benefit decisions that affect them, creating a more educated and aware workforce.

Benefits to your employees

By offering your staff greater choice and flexibility in their benefit options, you are helping them to gain a reward package suitable to their personal needs.

Benefits for your employees include:

• Tax and National Insurance savings of up to 41% on salary sacrifice benefits, such as childcare vouchers, bikes, car parking and mobile phones
• The facility for employees to trade unwanted benefits, thereby reducing possible benefit wastage
• An improvement to their overall total reward, through an increased personal value of their package due to the tailoring of benefit choices
• A greater flexibility in shaping their reward package according to their needs
• Enrolment flexibility, such as online, paper or telephone, allowing employees to select options that suit them

More information

For more information on these services, either speak to your Relationship Manager or contact Phil Ainsley, Senior Manager, Employee Benefit Services on 020 7489 3723 or phil.ainsley@equiniti.com.