A Flexible Benefits Platform is an online system that allows your company to manage and allocate employee benefits efficiently. Unlike traditional, fixed benefits packages, a flexible platform empowers your employees to select from a variety of benefits to meet their individual needs and lifestyles.
Employees are individuals with varying needs, which may differ based on their life stage, family situation, or personal preferences and can significantly impact your ability to attract and keep top talent.
While your office based staff may absolutely love discounted Gym Membership your warehouse staff may prefer to relax at the cinema or in the garden when they’re not at work. Your older employees may appreciate family focussed benefits for children and grandchildren while your grad students are more excited by travel discounts and CPD. Whatever their preferences, offering the ability to choose what works best for them means that your Employee Benefits are genuinely useful to all.
A traditional “flexible benefits” platform offers staff a ‘budget’ which they can spend against specific items such as, health and pension plans, gym memberships, childcare vouchers and financial wellness programs until their budget is exhausted.
The My Staff Shop platform is even simpler than this - as a company you can include different benefits from discounts to health plans, salary sacrifice schemes to online training. All employees can login to their account and choose to make savings on whatever best suits them without any need to manage their ‘budget’ as its all free to use. They can also choose to transfer their savings to an ISA, or save towards a big purchase, rather than taking the discount immediately.
Essentially, it's a digital portal that simplifies the entire benefits management process for both your HR team and your employees.
Offering a more flexible benefits package makes your workplace more attractive to prospective employees. In a competitive job market, candidates are drawn to companies that offer benefits they really want.
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Showing that you understand and cater to diverse employee needs through flexible benefits can set you apart from other employers.When employees can tailor their benefits to their own needs, it significantly enhances job satisfaction
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Offering assistance with everyday costs and financial wellness programs can be a major draw for potential employees, especially in the current economic climate
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By regularly evaluating and adjusting the benefits package based on employee feedback, you show that you care about their needs, further enhancing retention.
Talk to usReplacing an employee is expensive; retaining one costs much less. A well-designed Reward & Recognition programme can significantly reduce staff turnover.
Don’t use this form if you are an employee and have a query about your account, gift cards, orders or anything else. Please contact us Here
