Introduce, manage and review a flexible benefits scheme
- 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.