© Paul Gachet 2002

Slowly the tide is changing. In the past some employers paid as little as they could to their employees and often gave them very little in the way of benefits. But now, things are changing - not because employees are demanding more, but employers are finding that in the long term it is cheaper to offer other benefits to their employees, such as a pension, healthcare, life cover, dental cover etc. rather than running the risk of losing them. Employers find by offering their staff these benefits, they are less likely to leave for another employer, therefore all the time and money the employer has spent on that employee in training and developing them, is rewarded with greater productivity and loyalty. This has been borne out by numerous studies in the Europe and the U.S. and these benefits don't usually cost as much as you think. Remember negotiating a benefit package with an employee can be more cost effective than giving a pay rise, where extra National Insurance would need to be paid.

Because I am totally independent and can use any appropriate provider in the market place, I can negotiate advantageous rates.

How does an employer set up any of these schemes?

The one thing as an employer that you don't want to do is bog yourself down with administration. Of course, setting up any of the above schemes is going to cause some administrative work, but most employers would prefer someone else to take on the bulk of the work, thus allowing the employer to carry running their business.

As Independent Financial Advisers we can set and administer any type of employee benefits you wish to offer your employees. Because we are totally independent advisers, not tied to any network or any one company, and as we work solely in our clients best interest, you can be assured that the product and the provider I advise on will best suit your needs.

This is just a small insight into employee benefits, for further information, please contact me.

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