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Move to flex gathering pace

EMPLOYEE BENEFITS

Move to flex gathering pace

Although the take up of flexible benefits programmes is still minimal in the UK, there is no denying that the momentum is growing. That is the main message to emerge from a recent issue of Personnel Today magazine.

Personnel Today reckons that less than one in ten companies currently have formal schemes in place. But as many as 60% of British companies are actively looking at offering more flexible benefits packages over the next few years.


Personnel Today's guide to choosing and implementing flex

Personnel Today has devised a six-point plan to help you introduce the right kind of flex plan in your organisation.

1. Planning and design

  • analyse the objectives of change
  • canvass opinions
  • establish the scope of the scheme
  • assess the impact in terms of planning and specification
  • assess what processes and systems will be affected
  • agree how much will be spent on each employee
  • decide which benefits will be core.

2. Choosing the right partner

Decide which partner taking into account:

  • your company circumstances
  • budget considerations
  • extent of flexibility planned
  • existing technological infrastructure and IT systems.

3. Contract arrangements

  • consider contracts with benefit providers
  • clarify staff contracts.

4. Communication to employees

Your communication policy should ensure employees understand:

  • basic mechanics of plan
  • how it operates
  • company's position on cost management.

5. Enrolment

  • set deadline for enrolment
  • increase communication as deadline approaches
  • monitor progress on daily basis.

6. Review

  • examine what's popular and what has missed the mark
  • assess whether flex has met original aims.

Source: Adapted from "The flexible trend", by Jane Lewis, Personnel Today, 24 September 2002.


Want to know more?

Title: "The flexible trend", by Jane Lewis, Personnel Today, 24 September 2002.

Free with this issue is a special 14-page supplement on flexible benefits. Content includes: background to rise of flex; impact of advances in technology; and case studies.

Availability: To place an order contact the Personnel Today subscriptions department, tel: 01444 445566, email: rbi.subscriptions@rbi.co.uk.

For more details visit the Personnel Today web site . . . www.personneltoday.com