Voluntary Benefits
Are you looking for a cost effective way to motivate your employees by helping them make their money go further? Voluntary Benefits could be the solution for you.
What are voluntary benefits?
Voluntary benefits, sometimes known as, “lifestyle benefits” or “affinity benefits”, are essentially discounted products or services or specially negotiated in terms of benefits and features. They are a great way to reward employees for very little cost to you. You use your buying power to secure the discounts on behalf of your employees. Payments can be made via payroll (as net pay deductions) or, more usually direct from the employee's bank account to the provider.
Voluntary benefits can be made up of single offers, such as a discounted gym membership, a range of offers, perhaps sourced locally, or a full national range purchased by the employer as a packaged solution. There are a range of different providers offering packaged solutions and each provides the full discounted shopping experience for the employee together with full support for the employer to communicate in the workplace.
JMF keeps up to date with the latest developments in the voluntary benefits marketplace and can assist you in developing your voluntary benefits strategy from picking the right providers to advising on the best methods of communications.
Why should you consider voluntary benefits?
Can't always afford payrises – this offers an alternative by helping employees' money go further.
Motivation of staff – employees feel loyalty towards your organisation for giving them the ability to save money on their everyday expenditure.
First step before flex – get employees used to the concept of benefits before implementing a salary sacrifice or flex scheme.
Diverse needs require choice - voluntary benefits reflect varying lifestyle needs.
Simple – administration is minimal and the concept is easy to understand by employees.
Reinforce culture – innovative communication of voluntary benefits helps to reflect the culture of the organisation.
To find out how JMF Employer Services can help you to source the right package of voluntary benefits for your organisational culture please contact us now.
