Recruitment & Employment News: Flexible Benefits For All?

Flexible benefits have become “the norm”, according to a recent survey. Whether it’s in the game plan to attract new staff, retain current ones or even to just stay ahead of the game, firms across the UK are making flexible employee benefits “very much the norm” across a variety of sectors.

A study of 320 professionals in pension and employee benefits by Aon Hewitt discovered that 62% of organisations provide flexible benefits packages as a norm. Of those asked, another 21% intend to do so at some point in the future.

Aon Hewitt’s Benefits Administration Survey taken in 2012 also discovered that 60% of participants want to delegate and outsource the administration of flexible benefits packages to an external source or consultant rather than carry it out in-house.

From those 60% who do delegate it, 85% are pleased with the admin assistance and guidance they receive, while this is only real for 50% of organisations who handle administration in-house.

Aon Hewitt’s Lorna Bradford said: “Offering a flexible benefits plan has very much become the norm across a number of industries. We frequently hear from employers that tax efficiency, positive impact on employee engagement and ability to cater for diverse needs make flex plans increasingly attractive solutions.”

Tags: Employee Benefits