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As time passes, your people's needs and priorities change.
Some want to spend time with their families. Others want to explore the world. For many more, their priorities are close to home, for example, planning for retirement or buying a property. Offering a flexible benefit scheme will help you meet your workforce's changing needs. At Grant Thornton, we can help you deliver a scheme that's relevant for everyone.
Setting up your flexible benefit scheme
A flexible benefit scheme can be a big part of your reward strategy, working alongside your organisational goals and strategies. In fact, it's been found that introducing a flexible benefit scheme increases the perceived value of the reward package among employees, with no extra cost to the company.
You might want to offer a range of benefits or focus on specific areas, such as supporting healthcare, providing low-emission travel or offering training funded by salary exchange. Your new flexible benefit approach can also give you a great opportunity to better communicate the current employment package, improve awareness of its value and, in turn, enhance business performance. That's not all. The package can demonstrate that, despite economic uncertainty, your business still offers a good deal to its people.
We offer a wide range of services to support businesses manage their flexible benefits from design, implementation and management including:
- designing flexible benefits
- communication and building a benefit brand
- insurance broking
- reviewing payroll and HR systems and assessing employee profile
- income tax support to ensure robust salary sacrifice implementation
- HMRC post implementation clearance