Over the last five years, the adoption of flexible benefits has grown rapidly and it has become a well-established reward strategy. Employers have increasingly recognised that enabling employees to shape their own flexible benefits scheme helps to drive employee engagement and allows their business to derive better value from their reward spend.
A flexible benefits package will meet the changing needs of the most diverse workforce and can be a more engaging alternative to a fixed range of benefits. This gives employees more choice and adds tax efficiency for the employer and employee, hence increasing returns. Flexible benefits can also be used as a tool to control benefits costs or harmonise terms and conditions post a merger.
Online flexible benefits portals can offer:
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