Introduce, manage and review a flexible benefits scheme
Key points
A flexible benefit scheme allows employees to tailor their benefits package according to their individual needs.
Employers that are considering introducing a flexible benefits scheme need to decide on the appropriate design of their scheme, how to administer it, and which benefits to include.
A flexible benefits scheme will require ongoing maintenance and reviews to ensure that maximum value is gained from the organisation's benefits spend.
The employer could make use of tools such as employee opinion surveys and exit interview comments to elicit employee views on the scheme.
The employer will also need to review benefit take-up and how actively benefits are changed.
Benefits within a flexible benefits scheme can be offered under a salary-sacrifice arrangement.
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