The Key Advantages of Voluntary Benefits in the Workplace.
In today’s society where a wealth of choice is at our fingertips, it’s become ever more important to provide your employees with a variety of choice in their benefits, whilst balancing what you can viably provide them. This is where Voluntary Benefits can allow you to do just this.
But first, what is a Voluntary Benefit?
A Voluntary Benefit covers any benefit that the employee may choose to take advantage of at any time, directly with the benefit provider. Voluntary Benefits commonly offer special rates for employees, available to them if they choose to take advantage of the scheme.
What are the advantages of a Voluntary Benefit?
Advantages of providing Voluntary Benefits are felt for both the employee and employer. From a monetary perspective, there are no direct costs to the employer and the employee receives a reduced, special rate on the services offered by the provider.
Once the benefit is set up between the provider and the employer, it is up to the employees whether they would like to take advantage of benefit and they pay the provider direct. So, for the employer all that is required is a little time to set up the benefit and make it known to the employees.
Wide Selection of Benefits
Other advantages of Voluntary Benefits include the ability for the employer to provide a wider selection of benefits to their employees, without the financial burden. This means that employees are able to access a wealth of benefits which highlight the goodwill of the employer. This is of great importance as it has been proven that a strong benefits range offers to an employee can assist in both the recruitment of vital talent, to the retention and happiness of employees.
Providing Above & Beyond for Your Employees
At Redstone Wills, we find that the Voluntary Benefits scheme allows employers to offer their employees a much richer selection of helpful benefits, all of which add to the employees feeling of trust and wellbeing at their workplace. We often think about life insurance and death in service as a benefit, but equally important is the security of a Will to ensure their families have no complications should the unexpected happen.
Voluntary & Flexible Benefit Schemes
We provide a mixture of Voluntary & Flexible benefit schemes to suit the needs of all businesses we work with, and depending on their benefit requirements. We educate both our partners and their employees in making the best choice of Will services for their circumstances and make the process simple and easy to use.