The Future of Flexible Benefits

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The Future of Flexible Benefits
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The evolution of flex
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Stage one the birth
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Stage one the birth

• Cafeteria benefits in the US
• Introduced to the UK by the actuarial consultants
• Very large employers only
• Administered by paper or mainframe system very
  expensive

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Stage one the birth

• Why did they do it
• Differentiate themselves as employer
• Maximise value of reward spend

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Stage two the revolution

• The cost of flex dropped (new entrants)
• Technology
• Consulting
• All size employers implementing

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Stage two the revolution

• Growth of defined contribution pensions
• Growth of salary sacrifice

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Stage two the revolution

• Often implemented as defensive move
• 82 companies experiencing recruitment
• difficulties 69 reporting retention
  difficulties
• Employees more savvy
• CIPD Recruitment, Retention Turnover survey

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Stage three the death of flex

• What does flex mean?
• How can employers really differentiate?

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Creating Intelligent Reward

• In depth research, interviews with reward leaders
• Employee Rewards Watch 2007

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Creating Intelligent Reward

• Maximise the value reward spend
• Reduce the cost of their reward spend
• Improve their ability to make decisions

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Introducing speakers panel

• Chris Wilson Oracle
• Vicky Stewart Bombardier
• Keith Brownlie Informa Group