Editor's message: Flexible benefits packages give employees a choice over which benefits, from a wider selection, they wish to receive. Giving them the ability to choose the benefits that are most relevant to their situation and lifestyle can be a powerful attraction and retention tool, help increase employees' perceived value of the benefit package and boost engagement. Having a flexible benefits scheme also means that the employer avoids providing benefits that employees do not value.
Employers will find that implementing a full flexible benefits programme generally requires careful design and planning, negotiation of supplier contracts and the selection of suitable software to support the administration, as well as meeting the associated costs. As an alternative, organisations may offer some flexibility in their benefits package, rather than a full flexible benefits programme in which employees are free to select, amend or alter all of their benefits.
Sarah McCarthy, HR practice editor
The range of possible benefits available for organisations to offer their employees is vast, but the right mix needs to be chosen to attract and retain the employees they need. We look at some of the most common benefits and allowances, and the level of offering.
Updated to take account of the General Data Protection Regulation, in force from 25 May 2018.
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Definition from the XpertHR glossary.
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