What are employee benefits?
Employee benefits are additional incentives to an employee’s regular salary.
They offer a way to attract and keep people, contribute towards improving well-being and encourage required behaviours, achievements, values and skills. Most employers want to offer benefits to their employees, but do not know which to choose. Budget, number of employees, and similar factors can play a role in your decision. By building an attractive employee benefits package, you can attract and retain quality employees, improve employee health and morale, and gain certain tax advantages.
Why use our employee benefits services?
The right employee benefits create value for employees and employers alike. We know there is no ‘one size fits all’ solution. Companies have different needs and don’t necessarily have the time, skill set or scale to work through a thorough planning process. Our client’s benefits are regularly reviewed and adapted accordingly in line with any changes to their business.
The right benefits can help you to:
- Recruit the best talent
- Retain key staff
- Maintain a motivated and happy workplace, thereby increasing profits
- Support work/life balance
Businesses can offset some of the cost through:
- National Insurance savings through salary exchange benefits such as pension contributions
- Corporation tax relief against allowable business expenses
- Employees buying extra holiday
- Having an organised and monitored scheme that is well presented will reduce time spent by the HR department or office manager releasing their time to spend on other business needs
Why use Francis Clark Financial Planning?
Our financial planning advisers provide both our business and individual clients with clear, expert and relevant independent financial planning advice. Our chartered financial advisers can advise you on many business needs, including workplace pensions and business protection so you can look after every aspect of your business.