Ryan Oates
Posted By Ryan Oates
05/09/2022

Financial Wellbeing – Employee Benefits for Small Business


 

AT A GLANCE
CHALLENGES
  • Attracting senior skilled staff from larger organisations
  • Employer concerned that staff from larger organisations expected an established Employee Benefits Package
  • Only offering a Workplace Pension in line with Automatic Enrolment duties
BENEFITS

We introduced

  • Group Life Cover
  • Group Income Protection
  • Private Medical Insurance
  • Health Cash Plan
OUTCOME

The company was able to grow from 5 to 12 staff in 12 months

 

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OVERVIEW

A small growing business was struggling to attract senior skilled staff from larger organisations. The employer was concerned that staff from much larger organisations were expectant of having an established employee benefit package.

Prior to meeting us, the business only offered a Workplace Pension in line with Automatic Enrolment duties.

OBJECTIVES

  • Implement a new employee benefit package within the business’ budget
  • Introduce a package which supports its role as a caring employer
  • Ensure the benefits are sustainable as the business grows and meet their wider business objective

HOW WE HELPED

  • We presented a range of benefits available to the employer, to help them decide on the most suitable for the staff they want to attract
  • Undertook an open market exercise, obtaining competitive terms for the proposed new benefits
  • Implemented and placed new employee risk benefits
  • Launched the employee benefits to new staff
  • Generated an Employee Benefit Booklet and amended the ‘Offer Letter’ sent to future candidates
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