View more on these topics

The future of employee benefits?

The insurer UNUM has just published a new report on The Future of Employee Benefits, which makes an interesting read for anyone considering reshaping their existing remuneration package.

There is one particular item within the report where UNUM asked their corporate clients: ‘Who influences the structure of your employee benefits package?’

The responses included competitor offerings, the board, HR and employee benefits press coverage, and employee requests.

These are indeed all powerful drivers when structuring a benefits package, but what was a little surprising is that legislation was not cited in these responses.

The reality is that legislation has done more to influence the direction of travel of employee benefits than any of the above responses in the last five years – and looks set to do so again for the term of the current government.

The challenge for employers is accepting that there is likely to be an increasing burden of legislation in the benefits space, and then balancing these requirements with producing the best possible outcomes for all the stakeholders in the process. 

The bottom line is where you are required to spend the money on an offering, then the employer should try and get a great return on their investment in each and every scenario.

Recommended

Business-Handshake-General-Hire-Appointment-700x450.jpg

Phoenix replaces ex-FSA chairman Sir Howard Davies

Closed-book insurance provider Phoenix Group has recruited a chairman to replace outgoing former FSA chair Sir Howard Davies from next month. Davies steps down from 1 September after three years leading the firm’s board and will be succeeded by former Legal & General vice chairman Henry Staunton. Staunton is currently chairman at W H Smith […]

China-Asia-Street-Busy-700x450.jpg

Equity outflows top £19bn amid China panic

Equities saw their worst weekly outflows on record, as investors pulled $29.5bn (£19bn) in assets in the past seven days. Data from Bank of America Merrill Lynch shows the outflows are the worst since the data collection began in 2002. Tuesday in particular saw £12.3bn of assets pulled from equities, the second worst since the financial […]

Jelf flexible benefits

In Focus: How to choose a flexible benefits provider — seven top tips

Jelf Employee Benefits looks at some of the key considerations employers should think about when reviewing and choosing a flexible benefits provider. Choosing the right benefits for your employees is one thing but delivering a successful employee benefits strategy is about understanding the complete picture and delivering it in a personalised way so that it resonates with each and every individual in your business. 

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com