| EMPLOYEE BENEFITS New types of flex scheme emerging Flexible benefits schemes are evolving, according to research by Incomes Data Services. A typical scheme now tends to feature a much wider array of benefits. What’ s more, the administration of flex — which in the past put some employers off — has become less onerous with online enrolment growing in popularity. What you will find in this IDS research This 72-page report provides an authoritative overview of how flex schemes are adapting to meet changing business needs. Packed with detailed case studies, it provides some fascinating detail on what is happening in the real world, based on a breadth of access to senior managers in nine organisations and reflected in an admirably clear and logical approach. Each case study considers:
IDS also looks at why these organisations introduced flexible benefits, how they implemented their schemes and what arrangements are in place for administration. The case studies are supported by in-depth research, with advice on how to design a scheme. And then there are numerous practical ideas for those who are trying to make sense of how to implement a scheme. The publication includes a directory of ten consultants active in this field and indicates how they would work with a client to approach the different phases of a project. It also provides a useful checklist of the key issues for companies to consider when selecting a flexible benefits consultant. It’ s a thoroughly-researched and highly-authoritative study, written by experts who demonstrate their awareness of the key issues in flexible benefits. Nine case studies: Allied Irish Offshore AstraZeneca Bank of Scotland British Standards Institution Financial Services Authority Freeserve Peverel Group Swiss Life (UK) Syntegra. A final word from IDS But if the advantages of flexible benefits schemes are so apparent, why are they not more common? Part of the answer is probably a reluctance to turn to what some still see as a rather over-engineered way of offering flexibility. It may be sufficient to provide choice within individual benefits, without the superstructure of a flexible benefits plan, by separately offering, for example, cash alternatives to company cars, the ability for employees to buy or sell holiday and different options on private medical insurance or pensions. For a fuller flavour, take a look at the abstract on the IDS web site . . . www.incomesdata.co.uk/studies/empben.htm Want to know more? Incomes Data Services is an independent research organisation providing information and analysis on pay, conditions, pensions, employment law and personnel policy and practice in the UK and rest of Europe. Title: Flexible benefits , IDS StudyPlus, summer 2001 Availability: Contact the IDS customer services department in London, tel: 020 7324 2599, or email: ids@incomesdata.co.uk. Subscription details: With your annual subscription you receive 24 issues a year, including four in the expanded StudyPlus format (includes directory of suppliers). For a list of recent IDS Studies with abstracts, jump to . . . www.incomesdata.co.uk Take a look at our reviews of previous IDS Studies:
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www.e-reward.co.uk/content/newsdoc40.htm Posted 6 August 2001 |