A Flexible benefits plan is essentially about benefits strategy and how to achieve cost efficiency for the employer alongside flexibility, choice and added value for the employee. Employees are diverse individuals so fixed benefit plans are rarely able to satisfy or engage employees. New benefits strategies are often implemented to achieve cost savings and enhanced employee engagement.

Flexible benefits is a system of compensation and benefits management which places an overall value on each employee’s total reward, and then allows the employee to influence the composition of their package, subject to the employer’s ultimate discretion. Flexible benefits more closely align rewards to employee needs, assist in helping employees appreciate the true value of their pay and benefits and can provide tax savings, National Insurance savings and bulk buying discounts on selected benefits.

The implementation of a flexible benefits plan touches HR Systems, payroll, accounting and finance, purchasing, tax and legal, employee communications and IT. Hewitt has always led the way in flexible benefits innovation, designing the first major UK flexible benefits arrangement in 1990, to the present day where we continue to design, communicate and support the UK's largest flexible benefits plans.

Hewitt also carry out flexible benefits design, communication and implementation work for smaller organizations bringing world class benefits strategies to all sizes of organization.

For more information contact Martha How via email or phone at +44 (0) 20 7939 4548 or Paul Nanon via email or phone at +44 (0) 1727 888427.