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Implementation

When creating your employee benefit package, there are four main steps to successful completion:

1. Feasibility

Our consultants will work alongside you to conduct a feasibility study outlining the business case for your scheme. In this phase, we look at the benefits strategy and the objectives.

Ceridian's feasibility studies typically aim to:

  • Gauge the appetite of the employees for flexible benefits
  • Engage the key stakeholders and gain buy-in/opinion
  • Evaluate the risks, costs and benefits
  • Identify whether or not the scheme would be cost neutral
  • Evaluate the impact of flexible benefits on HR policies
  • Determine the possible high level design
  • Allow time for contingency building
  • Limit spend prior to full commitment of resources

Ceridian has published a freely available whitepaper, entitled Flexible Benefits - Leveraging the Business Benefits, which highlights how you can build a convincing business case for the implementation of a flexible benefits scheme, focusing on the direct business benefits your organisation can realise.

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2. Design

In the design phase, our consultants work with you to create the employee benefit package that best suits your organisation. Every organisation is unique, so we use our experience to create and design a scheme that is perfect for your business.

Our consultants will work alongside you to decide on the level of spend per employee, and which core, voluntary and salary sacrifice benefits will be added to your package.

A creative, employee-friendly package will not only help you retain your most talented employees, it will also help you attract potential candidates. Find out how we then communicate your employee benefits package.

3. CommunicationCommunication

The third stage involves telling your employees about your scheme. You can go for the hard or the soft sell – our consultants will help you decide which communication strategy and methods are best.

The employee experience is heavily influenced by the communications plan and training of employees on the new solution. Ceridian has extensive experience and is uniquely placed to offer:

  • Advice on branding
  • Support with high level communications strategy
  • Design of communications materials
  • Support with design and delivery of employee training workshops
  • Support with road show design and delivery
  • Advice on communicating with employee forums, work councils and unions

4. Evaluation / Development

The final phase takes place as part of our continuous improvement process. We meet quarterly with all of our clients to evaluate their scheme. Not only do we analyse your package with you, we look at how it can be enhanced and evolve.

EvaluationYour employee benefits scheme has been operative for several months. How is it working for you? What is the take-up rate? Are employees engaged? Are there any benefits more popular than others?

This is the ideal time to sit down with our consultants and look at how to optimise your flexible benefits strategy.

A thorough audit of your benefits can highlight areas in which you can save costs, save on National Insurance Contributions, and achieve your business strategies.

If certain benefits are not being taken up by your employees, then you have to consider if the benefit has been sufficiently promoted, or whether it should be replaced or not.

We will help you look at the concrete results and the objectives that were set in the design phase, and get you ready for the benefit election period. Our consultants will benchmark you against your competitors and draw up a plan that will give you the competitive advantantage in the war for talent.

There are thousands of benefits to choose from. Kick start your flexible benefits offer today.

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