Companies are becoming increasingly aware of the importance of providing a comprehensive benefit package particularly in light of forthcoming changes in pensions legislation. From 2012 it will be law that all employers in the UK will have to offer a private sector workplace pension scheme to their eligible employees, unless they operate an alternative qualifying' scheme.
Protection benefits are also seen as an important part of the remuneration package, but costs can be a concern.
The right employee benefit package can, with the right communication, act as a very powerful tool in attracting and retaining the right calibre of employee.
FOCUS has significant professional experience in this field and can therefore work with you to design a cost effective, bespoke employee benefits package.
As a generalisation, the following benefits would usually form the core employee benefit package on offer:
Death in Service
Income Protection (Permanent Health Insurance)
Private Medical Insurance
Other optional benefits could include Critical Illness, Employee Assistance Programme (EAP) and Dental benefits.
These are of course in addition to the protection your business will need:
Directors & Officers Insurance
Key Person & Shareholder Protection
Invariably, when employee benefits are provided, the employee does not fully appreciate their value we will ensure that your employees understand fully the benefits that are being provided.
A well-communicated plan can reflect positively on the sponsoring employer, helping to retain key talent and maximise the perceived value of employee benefit spend.
Effective communication has been at the centre of our development over the years. Although we benefit from using the very latest technology solutions, our experience has told us that there is simply no substitute for sitting down in front of people and explaining issues in a clear and concise manner.
Our approach is to meet each individual employee, face to face, to explain the benefits of the schemes being provided.