Do improved employee benefits help retention?

Rising costs mean that employers have to be innovative in the way that they provide benefits to employees.

Salary sacrifice allows an employee to exchange part of their salary for something extra, such as additional annual leave, higher pension contributions or other valuable benefits.

For employers, the advantage comes from reducing the NIC base. Compliance in a key consideration and employers must ensure that their staff understand the arrangements. But with this in place, salary sacrifice can turn cost pressures into an opportunity.

The choice for employers is not between being passive or being overly generous; it is about being smart. When executed well, salary sacrifice delivers measurable savings, improves engagement, reduces admin and ensures full compliance.

Have you considered conducting a salary and benefits benchmarking exercise to see what your competitors are offering? Contact 121 HR Solutions on 0800 9995 121 to discuss how we can help your keep that competitive advantage.

Do improved employee benefits help retention?

121 HR Solutions Ltd