VOLUNTARY BENEFITS
Employers downsizing voluntary benefits to maximise effectiveness
Increasing numbers of employers are choosing to “downsize” their voluntary benefits schemes in order to offer a more select range of perks that has been tailored to suit their workforce demographic, says Employee Benefits magazine.
%ADVERT%
When it comes to voluntary benefits schemes, employers have frequently adopted a broad-brush approach and provided their staff with as many options as possible in a bid to be seen as a top employer. “This task was made easier by the fact that many providers in the market previously charged little or nothing for such plans,” says Kate Donovan, the author of the report.
But the “tide is now starting to turn”, and there are signs that employers are adopting a “more strategic approach” to make the options available more relevant to their employees’ needs.
Want to know more?
Title: “Tailoring voluntary benefits plans to suit staff”, by Kate Donovan, Employee Benefits, April 2007.
Availability: You can access this article on the Employee Benefits web site at www.employeebenefits.co.uk/item/2485/23/323/3.
Employee Benefits magazine was launched in February 1997 as the first UK magazine to help companies align their benefits strategy with their corporate objectives. It’s the only publication to examine the full spectrum of benefits – from pensions and health insurance to company cars and crèches. To find out more visit www.employeebenefits.co.uk.