Tolley's new guide to flex
Perhaps the key challenge of introducing flexible benefits is knowing where to start and how to best project manage the different elements of the scheme. Tolley's Flexible Benefits: A practical guide offers you a detailed step-by-step guide to the key elements involved in introducing flex.
Organisations are increasingly re-evaluating their employee benefits strategy to ensure that rewards match the needs of a diverse and ageing workforce. A batch of research studies suggest that the number of flexible benefits schemes in the UK has doubled over the last few years and is set to increase over the next decade.
Tolley's Flexible Benefits is a practical, step-by-step guide to the process of introducing flexible benefits in the workplace. The book's author, Philip Hutchinson, head of reward consulting at Jardine Lloyd Thompson Consultants, takes a multi-disciplinary approach and looks at the process from the pensions, HR, employment, tax and IT standpoints.
A practical approach
The book is highly practical in approach with the use of illustrative examples, tips on best practice and frequently asked questions.
This unique guide addresses issues such as:
l What are the best methods of changing to a flexible benefits scheme?
l What benefits should be offered?
l What are the costs to consider?
l What are the tax implications?
l What employment issues should be considered?
l How do you go about communicating the plan?
l What are the key criteria for success?
What you will find in this Tolley guide
This guide provides detailed guidance on the design, development, implementation and administration of a flexible benefits scheme. Across 421 pages, it contains sections on:
Basic principles of a flexible benefits scheme and why organisations introduce flex. The costs, savings and risks associated with flex schemes are also examined, with helpful hints on how to manage them effectively and profitably.
Establishing the feasibility of a flexible benefits scheme, developing a business case for its introduction and setting objectives.
Strategy and design process
Project managing the introduction of flex, setting up the project team, deciding on the timetable and key milestones, agreeing the basic design and framework.
The advantage and disadvantage of including pensions in your flex scheme.
Tax and legal implications
The correct management of tax in a flex plan, plus the effect of mixing different types of benefits and funding options and the main employment law issues.
Company communications required and alternative methods of delivering them. Also includes a review of use of technology and total reward statements
Management and administration
Different options available to manage and administer a flex scheme, including web-based systems. Practical review of outsourcing flex including guidance on selecting and managing outsourcers.
Installation and implementation
A step-by-step guide to installing and implementing a flex scheme with hints on fine-tuning and fault finding.
Key criteria for success
Getting it right with particular emphasis on establishing a clear strategy linked to the overall objectives of the business.
Want to know more?
Title: Tolley's Flexible Benefits: A practical guide, Philip Hutchinson, published by Butterworths Tolley.
Availability: This title can be ordered from Butterworths Tolley customer services department, tel: 0208 662 2000, or email email@example.com
To find out more about Butterworths Tolley publications visit www.butterworths.com
Posted 3 March 2003