Different employees value different benefits depending on their age, life stage and personal circumstances.
A flexible benefits system can help you cater to the changing priorities of a diverse team rather than adopting a one-size-fits-all approach.
Since every workplace is unique, your benefits package should, where possible, flex to the priorities of your diverse and evolving workforce. A flexible benefits platform allows you to offer multiple kinds of employee benefits without wastage.
Private healthcare, health cash plans, pensions, income protection, life assurance and critical illness can all be offered flexibly and in modular formats depending on an employee’s unique circumstances.
From discounts on food shopping to gym memberships to dining out programmes, a wide variety of daily expenses can be subsidised cost-effectively using a flexible benefits platform.
From childcare support to family-focused wellbeing benefits, employees can tailor their package to reflect the needs of their household and the life stage, or stages, they are currently navigating.
Delivered via a user-friendly online platform, employees can select, manage and review their benefits in one place. Accessible from desktop and mobile devices, the platform gives your team members greater control over their benefits package while providing you with a clear overview of participation and costs.
Designed to support employee autonomy, flexible benefits are an attractive proposition for employees who may be finding they cannot maximise their current benefits package and for new staff members bringing a diverse range of needs.
A flexible benefits platform allows you, as the employer, to only pay for the benefits that your staff choose to utilise, while also giving you vital insights into how you can tweak your offering for future iterations.
Where flexible benefits are offered in salary exchange format, employees may benefit from National Insurance and Income Tax savings, while employers save on National Insurance Contributions and administration time.
Successful flexible benefits programmes depend on more than just technology. To maximise engagement and uptake, your platform needs to be intuitive, reliable and suited to the needs of your employees from day one.
Rather than relying on an off-the-shelf system, together, we will design a flexible benefits solution built around the unique needs of your organisation, employees and business objectives. By undertaking thorough pre-launch testing and ongoing reviews, we ensure the platform continues to provide a seamless experience for you and your employees.
“Every employee is different and their benefits should reflect that. Flexible benefits give people the freedom to choose what matters most, helping them feel genuinely valued, supported and in control of their wellbeing.”
Alison Pearson
Employee Benefits Consultant
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“Acumen Employee Benefits continues to go above and beyond supporting the delivery of our unique employee offering. Their solutions are innovative, in line with our desired outcomes, and cost effective.”
Louise Doherty
Chief People Officer, Flotation Energy
Find answers to some of our most frequently asked questions. If you can't find what you're looking for, our team is here to help. Simply get in touch and we'll be happy to answer your questions.
How does a flexible benefits system work?
Flexible benefits offered via an online platform are usually provided in one of two ways. Either employees exchange some of their salary to receive the benefit, or you can allocate a set allowance per staff member they can spend in the benefits portal.
What is the advantage of allowing employees to choose their own benefits?
Providing the same employee benefits package to all staff members doesn’t work for everyone. With flexible benefits, you can give your employees more autonomy, which often leads to more active engagement with benefits, less wastage, and a decreased burden on you as the employer to administer all employee benefits.
What are the main types of flexible benefits we can help you offer?
Flexible benefits live up to their name when it comes to the variety of options employees can choose from. From health and wellbeing support to assistance with everyday expenses and family-friendly arrangements, the platform can be customised to reflect the needs of your workforce.
Can you help us introduce and manage a flexible benefits platform?
Drawing on our relationships with leading benefits software developers, we will recommend a flexible benefits platform that best fits your organisation and discuss the functionality you'll need to ensure it accommodates your requirements. Once your design is set up, we will show you how to use the employee-facing system as well as how to make any changes in the back end, with ongoing technical support provided if you need it.
Are flexible employee benefits tax-efficient?
The tax efficiency of flexible employee benefits will depend on whether the benefits chosen are exempt or not exempt from tax, as well as the method of administration (e.g. salary exchange or flexible benefits allowance). During a no-obligation consultation, we would take you through the options, including a side-by-side comparison of your tax and National Insurance (NI) responsibilities relating to each one.
How much should we budget for flexible benefits?
There is no set standard for how much employers should spend on flexible benefits. However, based on the discussions at your no-obligation consultation, we will break down the costs relating to system setup, tax and NI considerations and scheme administration to ensure you balance cost with value.
How will employees understand the full value of their benefits package?
Employees can receive regular Total Reward Statements (TRSs). These personalised statements highlight the full value of their remuneration package, including salary, bonuses, pension contributions and workplace benefits, allowing them to better understand and appreciate the investment you make in their wellbeing.
Because a flexible benefits platform provides employees with greater choice, it is crucial that the accompanying governance and compliance framework evolves alongside it.
Depending on the specific arrangements made with your staff members, a flexible benefits programme can introduce additional considerations around payroll administration, salary exchange terms, employee communications and benefits provider management.
Our employee benefit consultants oversee these moving parts, ensuring your platform continues to operate smoothly while helping you stay compliant with relevant legislation and industry best practice.
Acumen Employee Benefits is an appointed representative of Acumen Financial Planning who are authorised and regulated by the Financial Conduct Authority.
FCA number: 916905
