VOLUNTARY BENEFITS
Six in ten employers now offer voluntary benefits
As many as 60% of employers now provide some form of voluntary benefit package, according to research by Employee Benefits magazine.
| What you will find in this report |
| The basic idea of voluntary benefits is straightforward. Employers negotiate cut-price rates on products and services for their staff, either directly with suppliers or through a third-party provider. But there are a bewildering array of free and paid-for providers, paper and online systems, and financial and lifestyle products. This 15-page supplement to the December issue of Employee Benefits magazine comprises three main articles: |
| Package up a rich selection of treats A three-page article looking at how to implement a successful voluntary benefits scheme. Assuming you have decided not to negotiate discounts yourself, the next task is enlisting a provider. Deciding whether or not to pay a fee for you scheme requires careful consideration |
| Have online perks clicked? A two-page piece assessing the online options. Many online offerings, it seems, still only provide a front-end service -- rather than fulfilling a transaction entirely online, employees may have to download a form, send off an email, or call a helpline. |
| Do-it-yourself discounts Negotiating your own discounts directly with suppliers can liven up your own benefits package, without you spending a penny, as long as you are aware of the pitfalls, according to this one-page article. |
Voluntary benefits defined
"Products or services that are bought by employees out of their own taxed income, but which are made available through an employer. These goods are typically offered at a discounted price. This enables employers to offer a wide range of perks at a low cost. Voluntary benefit packages typically include insurances, travel and leisure services, lifestyle goods such as discounted CDs or DVDs and financial services." -- Employee Benefits, December 2004.
Want to know more?
Title: Voluntary Benefits Supplement, December 2004, Employee Benefits.
Availability: Employee Benefits magazine is published monthly. You can subscribe online to the magazine at http://sales.centaur.co.uk or tel: 020 7292 3719.
The research is available on the Employee Benefits web site at www.employeebenefits.co.uk. Once you have registered (it's free to do so), click on "Archive of articles" and then select "Benefits strategy". The articles are dated December 2004.
Posted 11 January 2005