Cost remains the primary barrier to implementing a flexible benefits scheme
Implementing a Flexible Benefits Scheme
Cost remains the primary barrier to implementing a flexible benefits scheme , according to the Employee Benefits/Towers Watson Flexible Benefits Research 2014 .
As in previous years, the percentage (64%) of respondents that cite the cost of implementing a scheme as a barrier to offering flex is significantly higher than those (49%) citing the second most common reason.
When it comes to the on-going cost of offering flexible benefits, including the technology required, this is considered much more of a barrier among employers that currently offer a flex scheme.
Some 41% of this group cite this as a barrier to flexible benefits scheme, compared with 32% that have not implemented a scheme. Conversely, respondents that do not offer flex are more likely to consider internal staff resourcing constraints and the impact of flexible benefits scheme on internal HR and processes to be a barrier than their peers that have implemented a flexible benefits scheme (25% and 23% versus 18% and 16%, respectively).
Other barriers to flexible benefits scheme that score highly year after year include the complexity of administration and getting approval for the business case.
Petaurum Solutions Comment
Another credible piece of research that highlights the benefits of implementing a Flexible Employee Benefits Scheme, along with the organisational barriers. With the Petaurum Solutions Benefits Programmes you can enjoy all the benefits of a Flexible Benefits Scheme without the barriers. Our free to use Benefits Lite scheme will allow your employees to access over 300 retailers offering a wide range of discounts from holidays to grocery shopping. If you want to offer a Childcare or Cycle to Work Scheme or other salary sacrifice schemes, our ‘pay as you go evolve as you grow’ schemes allow you to develop your scheme as your needs develop.
Talk to us about how you can enjoy the benefits of an Employee Benefits Scheme in your business without the pain of a large set up cost.
We are exhibiting at the Anglia Business Exhibition Trinity Park Ipswich on the 7th May - stands 104 and 105. Come and visit us - we would love to talk to you about your requirements.
This information is intended as a general overview and discussion of the subjects dealt with. The information provided here was accurate as of the day it was posted; however, the law may have changed since that date. This information is not intended to be, and should not be used as, a substitute for taking legal, HR or benefits advice in any specific situation. Petaurum Solutions is not responsible for any actions taken or not taken on the basis of this information. Please refer to the full terms and conditions on our website.