EMPLOYEE BENEFITS
New report on voluntary benefits, salary sacrifice and SAYE
To strengthen the employee proposition and position themselves as an employer of choice, many organisations are looking beyond basic pay and placing a growing emphasis on providing access to a wide range of employee benefits, according to a new report by Incomes Data Services.
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What you will find in this report
This 32-page report is divided into three main sections:
1. Voluntary benefits
Many employers have now introduced voluntary benefits as a cost-effective method of supplementing their core benefits package.
IDS looks at how employers arrange special deals and discounts to create a voluntary benefits package, and provides details of the arrangements in 14 organisations.
2. Salary sacrifice
Many organisations are now taking advantage of the tax and national insurance savings associated with salary-sacrifice arrangements to widen the employee benefits package while keeping costs low.
IDS looks briefly at how salary sacrifice works and discuss some of the key considerations for employers and employees.
3. SAYE schemes
The risk-free nature of SAYE share option plans has ensured their continued popularity.
IDS examines the schemes offered by 18 organisations and provides details of the upfront discount offered on the share option price, scheme participation rates and the average amounts being saved each month by employees.
The report also includes two detailed flexible benefits case studies:
Flexing pay and benefits at EDS
Vodafone UK gives staff the flexibility to choose the benefits package they want
Want to know more?
Title: “Employee benefits”, IDS Study 856, October 2007.
Availability: An annual subscription to IDS HR Studies brings you two issues a month (24 a year). These include all the expanded StudyPlus titles and quarterly HR Updates as they are published. It also offers full access to IDS HR Studies Online.
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IDS is the “leading UK information and research service” on employment issues, providing a range of publications for employers, trade unions, government departments and other agencies. To find out more visit www.incomesdata.co.uk.