Employee Benefits

Many employers now offer employee benefits to their workers in order to boost morale

and increase the number of people that wish to continue working for them. These benefits can also be used to reward employees and also to help them in certain areas such as childcare so that they can carry out their work efficiently and happily without having to worry about the cost of nannies and babysitters. Companies which offer such benefits have statistically happier employees and they are a great way for companies to look after loyal staff.

One such benefit which many companies are now offering is the cycle to work scheme, which is a government funded green initiative which enables employees of any company who wish to buy a bicycle to get them to work every day. It works as a tax exemption which enables employees to purchase a bike at a reduced price, which encourages them to cycle and be green.

Childcare is one such issue which is addressed in big way in employee benefit schemes and there are several different schemes which successfully operate and enable parents to work while not having to worry about childcare and the costs it can incur.

One such scheme which companies offer is childcare vouchers which operate through a salary sacrifice scheme in which an employee can exchange part of their monthly salary for childcare vouchers. The incentive for this scheme is that any deductions from an employees salary in relation to this scheme are exempt from tax and national insurance and so offer a considerable saving to the employee.

The family care scheme can also help employees with familial costs. With this scheme, employers can help their employees in caring for their family while they work and this is a much appreciated and sought after benefit. Like the childcare schemes, the family care scheme gives the employee access to care for elderly members of their family who may not be able to take care of themselves any longer. As such, this gives the employee peace of mind, enabling them to work while their relatives are cared for in a professional environment.

There are also some innovative flagship energy schemes being offered by a select few companies in which they source green low carbon energy and then supply customers, employees and members with it at a competitive rate. The attraction of such a scheme is that it enables employees to save money on their energy bills while giving a much needed contribution to the green energy movement.

Offering employee benefits is a fantastic way to ensure that staff are loyal and happy in their jobs and they enable employers to support their employees in a much appreciated fashion.

by: Amy

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