Employee Benefit Schemes
Why have an Employee Benefit Scheme?
Your employees are your most valuable asset, one that you will have invested a lot of time and money in developing. Therefore it makes sense that you will want to make sure that asset stays with you, to maximise the return on your investment. Rather than just increase pay scales, another way to ensure employee retention is by offering Employee Benefit Schemes. What’s in an Employee Benefit Scheme?
Really anything that suits your employees’ needs, can be in a scheme. As typical examples, there can be:
✔ pension scheme
✔ child care vouchers
✔ private medical insurance
✔ healthcare cash plans
✔ death in service
✔ income insurance
(also known as accident and illness)
✔ critical illness
This is not a definitive list and not all of them have to be taken. Most schemes have tax advantages and provide your employees with valuable benefits which will often save them money if they cancel their private arrangements.
All of these go beyond the immediate nature of pay and provide your employees with the peace of mind that they are covered should anything unfortunate happen, thereby allowing them to focus only on working for you.
Jay Financial can guide you through them to identify those that suit your needs. Either email email@example.com or phone 01283 761866.