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Many employers find it challenging to provide a budget-friendly and attractive benefitspackage. Employers wanting to compete for top talent can offer section 125 plans as a fringe benefit to help attract and retain employees.
Bupa Global and UK has launched a primary care health support package for its 15,000 frontline UK employees, working in Bupa care homes and dental practices. The MyHealthcare benefitspackage was launched as part of the health insurance provider’s global ambition to enhance health benefits for all of its employees.
One way you can give your staff more choice in the employeebenefits they receive is to offer them a cafeteria plan, which allows them to put together a benefitspackage that works best for them. Since the salary reductions are not received by the employee, they are not considered wages for income tax purposes.
Some individuals may be wary of reducing their take-homepay, especially if they are already on a tight budget. Illustrate how pre-tax contributions lead to significant savings over time, effectively reducing the impact on take-homepay. Want to learn more about how you can support your employees?
Meanwhile, the cost-of-living crisis resulted in many employees preferring to stay in a work-from-home arrangement to save on the costs of commuting to and from work. Today’s benefits, therefore, need to look at the whole employee experience and day-to-day lives, says Nebel Crowhurst, chief people officer at Reward Gateway.
The retailer has additionally increased minimum pay rates , which will rise to £11.50 Over the past three years, Currys has increased its minimum hourly pay by 29%. This increase in take-homepay will mean that the annual earnings of an employee who works 20 hours a week will have risen by nearly £2,700 over the three-year period.
Alongside competitive salaries and career growth opportunities, companies are now offering a wide array of tax free or non taxable employeebenefits to attract and retain top talent. These perks not only provide employees with financial advantages but also contribute to a more fulfilling and enjoyable work experience.
. “This change of data information would have to be with payroll before the September pay period cut-off, whereas for now it’s not needed until April of the following year.” appeared first on EmployeeBenefits. The post Are reward professionals ready for the 2026 P11D changes?
Employeebenefits are now an integral part of the compensation packages offered by many businesses. Not all workers take full advantage of their benefits, however. Have HR personnel explain how elective benefits would impact a worker’s take-homepay.
Meanwhile, the cost-of-living crisis resulted in many employees preferring to stay in a work-from-home scenario to save on the costs of commuting to and from work. Today’s benefits need to look at the whole employee experience and day-to-day lives, notes Nebel Crowhurst, chief people officer at Reward Gateway.
If you want to provide great employeebenefits but are constrained by budget, there are some company perks that not only keep your employees happy, but can also provide serious value for money. Theres a cost-effective way to increase employees pension pots AND save your business money at the same time: Salary Sacrifice Pensions.
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