Customised & Flexible Benefit Packages

In addition to aligning pay and grading strategies or systems with your organisation’s corporate strategy, we also work with clients to design and implement flexible benefit packages.

A significant majority of organisations find that their benefit packages are largely ‘taken for granted’ and as such, represent a poor return on investment. To address this problem, we design flexible benefit packages and introduce flexible elements or modifications into existing benefit packages. On this basis, employees are encouraged to identify and select the benefit option combinations which are most valuable to them, i.e. in view of factors relating to their age or personal circumstances.

Benchmark comparisons may be made to assess the relative attractiveness of benefit packages against those on offer within competitor organisations, or across a particular sector. Notwithstanding, we generally focus on the untapped potential which exists within existing packages and the effects which this potential can have in areas which relate to remuneration costs, morale, loyalty and staff retention.

The financial value associated with employee benefits is quantified and detailed on benefit statements which are issued to all personnel on an annual basis. This value may be expressed in terms of the cost to the organisation and/or the cost of sourcing such benefits on the ‘open market’. Employees are required to actively review and amend their option selections as their personal circumstances change. Top-up arrangements may also be incorporated into the redesigned system to further promote awareness of the value associated with the benefits.