Employee benefits packages

Implementing a successful employee benefits package should not only enable your business to meet its legal obligations in respect of making pension schemes available, it could also help to increase your successes when looking to recruit the best people.

In today’s business environment, with budgets under constant pressure, it is even more vital to deliver more cost-effective solutions. Employee benefits should be regularly reviewed to take advantage of new developments and improved terms offered by providers keen to compete for business.

Many employees today expect to have access to death-in-service cover or income protection as part of their financial package. Some also look to employers who give them the option of being part of a flexible benefit scheme that enables them to select their own benefits from a menu, using an agreed allowance that provides a more tailored employee choice.

A business that wants to retain or recruit directors or senior executives may find it much easier to achieve this if they provide them with a suitably tax-effective remuneration strategy. This may also go a long way towards promoting loyalty and protecting them from the potential threat of the competition.

It’s also important to protect your business against the unexpected death or serious illness of your key employees, shareholders or partners. Many businesses recognise the need to insure their company property, equipment and fixed assets. However, they continually overlook their most important assets, the people who drive the business, and the impact their death or illness could have on the financial security of the business.

Receiving the appropriate professional advice can help to ensure that premiums paid are competitive and set up in a tax-efficient manner. Services offered to corporate clients include:

Corporate investments  
Individual pension plans 
Key person insurance
Partnership insurance
Employee benefit plans
Business succession planning
Group retirement planning

Whatever the size of your business, if you require objective professional advice on corporate financial planning and employee benefits, please contact us for further information.