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Reasons not to flex... We already have a wide range of benefitsToo ComplicatedAdditional administrative burdenIt will cost too muchIt will take too much time to introduceWhy change what we already have?. Existing Benefits. Contribution to Personal PensionPrivate HealthcareDeath in Service Ben
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1. How to Flex – Plain and SimpleThe practical aspects of introducing flexible benefits Chris Berry - Managing Director
Computers in Personnel Limited
2. Reasons not to flex.. We already have a wide range of benefits
Too Complicated
Additional administrative burden
It will cost too much
It will take too much time to introduce
Why change what we already have?
3. Existing Benefits Contribution to Personal Pension
Private Healthcare
Death in Service Benefit
Permanent Health Insurance
Subsidised Gym Membership
Flexibility in Choice of Company Car
Company Social Club
Voluntary Benefits
4. Why introduce Flex Bens? Changing Workforce Needs
Ageing Workforce – greater spread of age
Need to respond to the marketplace
Response to Employee Request
Creating Choice and Flexibility for Employees
Assist Staff Retention & Help Recruitment
Derive greater value from existing Benefits offering
Provide greater Value to Employees
Technology and Ability to Deliver
A Partnership Opportunity
5. Delivery & Technology thomsons online benefits
Full Benefits Offering
Leading Edge Technology
Help Line for Employees
Face to Face Contact
Computers in Personnel
65 ‘sceptical’ employees
Existing highly functional HR Self Service Offering
Client base of over 700 organisations
6. Selecting the right benefits What did we already offer?
Ease of ‘flexing’?
What did we want to include?
How to decide what to offer?
What would make a difference?
Finding out what employees wanted
Working with those who had done this before
7. Benefits Survey Find out what Employees wanted
Prompted Possible Offerings
Buy or sell Holidays
Additional Healthcare benefits
Extending Healthcare to partner/family
Add Dental Care
Childcare Vouchers
Ease of change to Pension Contributions
Probed the value of understanding Benefits offered
8. Integration With Existing Benefits
Decision to offer more choice
Not to introduce too much in one go
Existing Benefit Choices
Limited to Car and AVCs
With Administrative Systems
Use of Existing HR, Payroll and Pensions data
Integration with Ciphr Net HR Self Service
Current Benefit Cost Structures
Wanted low to zero impact
9. What we Flex Holidays
Buy or sell up to 5 days per annum
Health Screening
Salary Sacrifice
Pension Contributions
Now offered through Flex window
Subsidised Gym Membership for all
We plan to Flex
Childcare Vouchers
Dental Plan & Greater choice in Private Healthcare
10. Value to employees
Introduction of an opportunity to discuss benefits
Ability to change mix according to circumstance
Created a formal Annual Benefit Review
On-going Reminder of Value
Visibility of Benefits Provided and those available
Total Reward Statement
12. Administrative impact Integration with Existing HR Self Service
Paperless Pension Enrolment
On-line Total Reward Statement
Life events trigger flex opportunity
Annual Benefit Review
One ‘Window’ to flex
One focal point for Benefits Administration
13. The positive effect Ease of Benefits Administration
Hiring New Staff
An immediate choice of benefits
Ability to mix benefits according to circumstance
Employee Response
Increased interest in Pensions!
Positive comment on value offered by CIP
Appreciation of Consultation
Greater Visibility of Benefit
Formal opportunity to review benefits every year
14. Lessons Learnt Flex can be up and running in 3 months!
Consultation is good
But doesn’t have to be complex
You decide what to offer
Keep it simple
Don’t do it all at once
Introduce new benefits over time
Don’t underestimate the hidden benefits
Work with an Experienced Partner
15. Any Questions?
16. A case study The practical aspects of introducing flexible benefits
How to select the right benefits
Integration with existing benefits offerings
Promoting greater understanding of value to employees
No real increase in employer costs
Why CIP chose to introduce flexible benefits
Administrative impact
Employee response
The positive effect on hiring new staff
How CIP managed the introduction of flex in less than 3 months