Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Flexible benefitsPay & benefits

Flexible benefits schemes get heavyweight support

by Personnel Today 9 Nov 2004
by Personnel Today 9 Nov 2004

Chief executives and finance directors are increasingly taking an active interest in flexible benefit schemes as they realise the positive impact that they can have on business performance.

According to a survey by HR services firm Hewitt Associates, the number of companies interested in implementing flexible benefits schemes has continued to rise, with more than half of the respondents either already implementing a plan or considering doing so in the next few years.

The 11th annual survey on UK Employer Attitudes to Flexible Benefits, questioned 190 organisations across all industry sectors. More than 50 per cent said their chief executives were involved in the decisions over the introduction and management of flexible benefits.

Nearly half the respondents also reported close involvement of the finance director – a significant increase on last year’s figure of less than 20 per cent.

Hewitt Associates’ survey also revealed that the top three reasons used for constructing a business case for implementing flexible benefits schemes were all cost driven – the ability to achieve harmonisation of terms without increased cost (32 per cent), National Insurance savings (26 per cent), and the ability to contain future benefit cost increases (21 per cent).

Phil Murray, a consultant on flexible benefits at Hewitt Associ-ates, said: “These results point to a greater high-level engagement as company leaders understand the importance of flexible benefits to their businesses.”

The survey also showed that the majority of new flexible benefits schemes include pensions.

Murray said: “We are likely to see much more demand for flexible benefits. Employers have pensions simplification measures to implement from April 2006, potential National Insurance savings and the move towards defined contribution pension schemes – all of which are more suited to greater flexibility.”

 www.hewitt.com



Personnel Today
Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

previous post
Tribunal winner claiming £370k from software firm
next post
Union condemns Lloyds TSB outsourcing move

You may also like

Sharp rise in firms offering enhanced parental leave...

11 Aug 2022

Top earners’ pay soars by 10% while lowest-paid...

8 Aug 2022

Office could be sanctuary for workers fearing winter...

4 Aug 2022

Inflation forecast to hit 13% in autumn says...

4 Aug 2022

Shell to pay workers a one-off 8% bonus

4 Aug 2022

BT strike: company ‘has stuck two fingers up...

29 Jul 2022

Police ‘let down’ by ministers with insufficient pay...

28 Jul 2022

UK employees increasingly seek temp work for extra...

28 Jul 2022

Average UK households £8,800 poorer than French and...

21 Jul 2022

Women over 50 hesitant to progress due to...

19 Jul 2022
  • 6 reasons why work-based learning is better than traditional training PROMOTED | A recent Fortune/Deloitte survey found that 71% of CEOs are anticipating that this year’s biggest business disrupter...Read more
  • Strengthening Scotland’s public services through virtual recruiting PROMOTED | This website is Scotland's go-to place for job seekers looking to apply for roles in public services...Read more
  • What’s next for L&D? Enter Alchemist… PROMOTED | It’s time to turn off the tedious and get ready for interactive and immersive learning experiences...Read more
  • Simple mistakes are blighting the onboarding experience PROMOTED | The onboarding of new hires is a company’s best chance...Read more
  • Preventing Burnout: How can HR help key workers get the right help? PROMOTED | Workplace wellbeing may seem a distant memory...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+