Flexible benefits ‘can improve staff retention’

A recruitment expert has advised UK companies that the implementation of flexible benefits can help to improve employer-employee relations and reduce staff turnover by fostering a greater sense of loyalty.

Jarrod Parker, actuaries and consultants chief at Alexander Forbes, stressed the importance of giving the workers the choice of opting in or out of benefit schemes and warned against the pitfalls of "homogenisation".

"The benefit choice needs to be there," he explained. "If you get that wrong, even with the best will in the world and even if the communication is good, you're not going to have a high level of engagement."

Mr Parker added that such initiatives can function as a "retention tool", promoting a positive image of organisations as forward-thinking and conscious of the needs and desires of staff.

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His comments came after research from Hewitt Associates revealed that 43 per cent of British businesses have either implemented or are considering introducing flexible benefit packages.

Posted by Ross George