Employee Benefits – Choosing The Right Employee Benefits

1
Employee Benefits Choosing The Right Employee
Benefits
Visit http//teamrewards.co.uk/salary-sacrifice.h
tml
2
The number of different employee benefits that
are available seems to be growing by the day.
Introducing an employee benefit scheme can have a
positive impact on your business, but only if you
choose with care.
3
The type of benefit package Firstly, you need to
have an understanding regarding the different
benefit packages. A core package is the standard
package employees receive no matter what.
Voluntary benefits are those whereby a
preferential deal has been negotiated by the
employer yet the employee pays for this from
their own net salary.
4
Finally, salary sacrifice is a tax efficient way
of accessing benefits, as employees choose to
sacrifice part of their gross earnings in return
for particular benefits.
Benefits offered You then need to consider what
type of benefits you are going to offer. Are you
thinking about running the Bike to Work scheme?
5
Do you think your workforce would appreciate
childcare vouchers? Its important to carefully
consider your workforce to determine what
incentives are right for them.
So there you have it the basics regarding the
decisions you need to make when choosing the
right employee benefits for your business. Use
this as a starting point to help make correct
decisions.