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Flexible Benefits
Offering flexible benefits is an excellent, cost-effective way to motivate your workforce. Whether you are looking to offer discounts on things like shopping and eating out, or to save tax and national insurance for your employee’s by giving them the opportunity to make purchases using ‘salary sacrifice’, the increase in staff morale will be a huge benefit to your business.
The Alan Boswell Group Difference
We aim to build long-term relationships with our clients. We will take the time to get to know your business and what your objectives are so we can find the most suitable benefits package for your staff.
Flexible Benefits in detail
- Flexible benefits – a percentage of your employees’ salaries can be used to purchase things like childcare, bikes, technology, and gym membership. This is usually done using ‘salary sacrifice’ which is a way of saving money by having the payments taken from the employee’s salary before any tax or national insurance had been deducted. As a result, the employee (and employer) will only pay tax and national insurance on the lower salary.
- Voluntary benefits – by providing discounts on shopping, technology products, restaurants, and groceries, voluntary benefits are a way to engage with all of your workforce. You also have the option of adding other benefits such as reward services, allowing you to tailor the rewards package to the needs of your employees.
FAQs
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We will take the time to meet with you and discuss the needs of your business so that we can find the most suitable benefits package for your employees.
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Purchases made by employees using salary sacrifice will be made directly from their salary before tax or National Insurance has been deducted. As a result, they will only pay tax and National Insurance on the reduced salary, while still benefitting from the purchases they have made.
