In each issue of Reward, Ian Rummels, head of thinking and possibilities at PES, will be answering employer's questions about their benefits provision.
Q: I would like to give my employees a ‘pot’ to spend on their flexible benefits. Should I give them a percentage of their salary or a set amount?
A: As well as the commercial advantage of managing the cost of flexible benefits, offering employees a flexible benefit fund shows you care about individual needs, which in turn supports them. Offering a fixed amount allows employees to feel valued as equals regardless of seniority, further encouraging take-up and engagement. Our SME-focused portal manages clients’ benefits who choose to offer a percentage, but 95% choose a set, equal fund. The set-up and running is also less complex.
Ian Rummels, head of thinking and possibilities, PES, can answer your employee benefits questions. To put a question to him, email email@example.com