A successful entrepreneur can be judged in many ways. While the revenue and profits they generate, the number of new ideas they successfully bring to market, and the contribution they make to their particular business sector or their local community are all important factors in measuring their success, for his or her employees, a different set of criteria apply.
Foremost among these will be the ways in which the employer can make a positive difference to their workers’ lives. And while financial rewards are a large part of measuring this, they are far from the only ways in which it can be gauged.
Offering generous benefits which employees appreciate, however, is no cheap deal, and will require some careful financial planning.
That’s especially true when the cost of providing some of them is constantly rising, as is the case with health insurance.
At a time when many companies, especially at the smaller end of the scale, have been having to cut back on the benefits they provide for their workers, however, the number of them which can afford to provide health insurance cover is diminishing. An alternative option which is often cheaper, however, is a healthcare cash plan, which, in return for a monthly premium, pays out up to a maximum sum in the event of an employee or one of their dependents needing treatment.
While their retirement date may be many years away, a company benefit which provides value to every employee is a pension scheme. And thanks to the tax incentives available – an employer can match their worker’s contribution to help greatly increase the eventual size of their pension pot, as well as the employer not having to pay tax on the contributions they make – these are an effective way of putting in place foundations for a more comfortable retirement.
Many people who work in the financial services sector can avail themselves of a number of valuable benefits which will save them money in the long term. Some companies, realising the difficulty workers face in moving around with their job, will offer a generous financial package to help them relocate, to help them meet the up-front costs of finding somewhere to live and then moving in.
In the longer term, it’s still possible for workers in this sector to be given access to mortgages at preferential rates, which, as these represent a hefty chunk of a family’s monthly outgoings, is a tremendously valuable, and valued, benefit.
Then, eventually, when children come along, this brings scope for employers to offer a range of benefits which are popular among workers. Statutory maternity leave is fairly generous, but it’s a different story for dads, who have to make do with two weeks’ paid leave. However, this is where the true meaning of flexible benefits can be appreciated, as many employers will offer the ability to take emergency leave to deal with any family problems which arise at short notice. They are also obliged, under British law, to consider a request by a new parent to work…