UK - Voluntary benefits are an ideal introduction to setting up a full flexible benefits package, delegates were told.
Marsh associate director David Soames said voluntary benefits worked in a similar way to full benefits by motivating staff and encouraging company loyalty.
An employer can often negotiate a discount for one or several voluntary deals and then ask for payment to be deductible direct from an employee’s monthly pay.
Soames said: “Sixty per cent of employers have a voluntary benefits programme up and running, with the most popular including gym and health club membership, healthcare cash plans, dental plans, childcare vouchers and pet insurance.
“They are the first rung on the ladder towards flex benefits and cost the company very little or nothing at all.”
He said the benefits can be promoted individually or as a complete package. He added that the key to a successful deal was to keep it easy to implement and run and to keep uptake high by continued communication.
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