Flexible benefits can have a significant and quantifiable impact on employee engagement (subscription required), recruitment and retention, as the experience of engineering and construction company Subsea 7 - newly profiled on XpertHR - illustrates.
The ability to tailor the reward package to individual needs makes flexible benefits plans highly attractive to staff. They also have much to offer employers.
If managed correctly, flexible benefits schemes can provide a cost-effective means for employers to differentiate themselves from competitors - a particularly relevant concern in the current economic climate.
Our profile looks in detail at how Subsea 7 approached the design, implementation and subsequent development of a flex scheme to improve recruitment and retention rates. We also take a detailed look at the organisation's employee share purchase plan.
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