Employee Benefits

Are you exploring the possibility of launching total reward statements or a benefits programme, or looking at how to increase employee awareness or run an existing benefits scheme more efficiently?

We offer a range of benefit and total reward solutions to help you with every aspect of your benefits and reward programme. We work in partnership with our clients to find the solutions and services that best suit their organisation’s environment and budget.

So whether you need to develop a new solution from scratch, would like to change your existing technology or perhaps review the current benefits that you offer your employees, we can help.

 

What are Flexible Benefits?

Offering flexible benefits to your employees allows them to decide the composition of their reward package. Giving employees the ability to opt in or out of certain benefits means they can tailor them to meet their lifestyle and needs.

In addition flexible benefits provide you, as the employer, with the ability to choose which benefits you would like to offer your employees. The benefits can be aligned with your organisational culture, allowing you to offer particular benefits to certain groups of employees for example, senior managers may get an enhanced benefits package.

Popular flexible benefits that can provide tax and NI savings are:

  • Childcare Vouchers
  • Pension contributions
  • Cycle to Work
  • Health Screening
  • Green Car Leasing Schemes

 


 

 To find out more about flexible benefits and how we can help your organisation, please contact us

  • Generate financial savings through tax and National Insurance efficiencies
  • Aid recruitment and retention
  • Increase employee motivation and engagement
  • Increase employees’ awareness and understanding of the total value of their reward package.
  • Tailored benefits package to best suit their lifestyle and needs
  • Organisations buying power brings significant discounts
  • Can extend the value of their pay by purchasing tax-efficient benefits such as childcare vouchers.

What are Voluntary Benefits?

Voluntary benefits provide employees with unlimited discounts and cash back on goods and services offered by many high street brands and retailers. Employees are able to purchase goods and services either by using traditional payment methods or in some instances by using their salary in exchange.

Voluntary benefits can be provided either as a standalone offering or via an online portal in conjunction with a more inclusive flexible benefits scheme.  Where benefits do not involve salary exchange there is minimal administration for the employer as the transaction is directly between the employee and the provider.

 


 

 To find out more about voluntary benefits and how we can help your organisation, please contact us

  • Voluntary benefits is a low-cost option that provides a highly valued reward for employees
  • There is minimal administration because the transaction is between employee and provider
  • Perception of employees is that the company is helping them to make their money go further
  • Can be simpler and less expensive than flexible benefits.

Employees receive discounts on well known brands and retailers. They can buy vouchers, get money off purchases or take advantage of special offers.

This means that your employees extend the value of their package by saving money on both every day and special occasion purchases.

 

What is a Total Reward Statement?

A total reward statement is a personalised statement of the tangible and non-tangible remuneration and benefits that are provided by an employer. Total reward statements are used to communicate to employees the breadth and value of their total package.

Employees regularly underestimate the value of their benefits by up to 25%. Implementing total reward statements brings together all elements of the benefit package in one place and helps to communicate the true total value to employees.

Statements can be produced online or as a hard copy, paper version which is often referred to as a manual or offline total reward statement. 


  To find out more about Total Reward Statements click here

Case Study

Find out how Panasonic increased their benefit take-up rates and improved benefits communication.

Click here >>

 

Guide to Flexible Benefits

To request a FREE copy of our Guide to Flexible Benefits, email:

rewardinfo@ngahr.com