Benefits scheme design consulting

Our business is built upon our expertise in corporate benefit and financial advice. The strength of our specialist consulting team is underlined by the fact that we have been voted ‘Corporate Adviser of the Year' for the last four years (2004, 2005, 2006 and 2007) in the Money Marketing Financial Services Awards, an accomplishment unmatched by any of our competitors.

If you have no benefits and reward strategy in place today 
    
Don't worry - our research shows that 64 per cent of companies don't! We will work with you to develop your strategy ensuring that it meets the needs of both your business and employees.  In preparing our recommendations we will assess:

• The business case (financial impact, return on investment required); 
• The business readiness (risks, resources and systems); and 
• The business need (competitive pressures, employee opinion, key stakeholder opinion, competing projects). 

Our recommendations typically include:

• A programme that meets the Company's growth, people and reward cost objectives;
• A benefit structure appropriate in the context of your competitive market for talent;
• An approach to get the best value for money in providing those benefits;
• A plan to ensure the programme is understood and appreciated by the employees based on their aspirations, locations and demographics. 

If you have a reward strategy and benefits in place

We will help you review your package to assess:

• How appropriate the selection, level and set up of the benefits that you currently offer is; 
• Whether the original strategy is still appropriate to your business today; 
• Whether there is any duplication of benefits on offer, whether they are accurate (i.e. do they cover everyone that you think they do) and whether they match your contractual terms and conditions; 
• If you are getting the best price or could your organisation get better value for it's spend; 
• If you are up-to-date with recent legislative changes.

If you want to find out whether flexible benefits are right for your business

We will help you to complete a return on investment business case to determine the costs and potential savings that would be generated by implementing flexible benefits.

If you want to implement flexible benefits

We can guide you through the entire process from carrying out the initial fact finding and feasibility study through to communicating the scheme.  Once your new scheme is live, the story really begins. Following the implementation we will help you evaluate the success of the scheme and to continue to grow and develop it in the future.

If you are reviewing your pension scheme structure

We have particular expertise in the group personal pension market and can help you select the appropriate provider and then to establish and communicate the scheme. In 2001 we pioneered obtaining approval from the Inland Revenue for employees to join group personal pension schemes with no need for a “wet” signature. Ours was the first and we believe is still the only employee benefits consultancy business in the UK to operate this facility.

Reward cost management

The cost of providing employee reward is one of the largest costs any business has to manage.

If the cost of providing and administering employee rewards and benefits significantly outweighs the value recognised by employees and business leaders, that spend does not represent good shareholder value.

As part of our Intelligent Reward™ proposition we increase the shareholder value associated with reward spend. 

The big issues

• The cost of employee reward, attraction and retention has a direct impact on your profit;
• Many companies have no way of collating and measuring the cost of the benefits they provide, far less actively managing, controlling or equalising them across their businesses;
• There is an increasing focus on realising a demonstrable return on investment in HR.

The big questions?

• What do we spend on benefits today?  
• How does that compare with the past?
• How does that compare with our competitors?
• Did we keep our reward cost in budget?
• Are the benefits we provide worthwhile?

The answers?

Our specialist consultants use the data held about you and others in your sector and our unique reward cost tracking tools to provide board level reward cost reporting and to make recommendations for you on developing and implementing your future strategy.