Selecting benefit providers, and benefit implementation, can be a potentially time consuming process. In the worst cases it can seriously impact the performance of an organisation, as key managers become distracted from their core business focus and bogged down with staff issues.
The rationale for introducing enhancements to the benefit offering of the business is often part of a ‘wider’ remuneration benchmarking exercise. to attract and retain key staff. Alternatively the reason might be for the organisation to comply with statutory obligations, such as pension auto enrolment. Sometimes companies need to introduce benefits as part of a TUPE transfer to match the benefit offering of the previous employer. Whatever the reason, owners of a business can feel a heavy burden of responsibility to ensure that the right product is selected to deliver value to the business, and to those enrolled in the benefit scheme. In addition no business owner wants to face angry staff and the public relations disaster, should it later transpire that a scheme they implemented is not legitimate.
Benefit implementation- why use HR First?
HR First works with a range of partners to provide access to financial product providers. All our partners are members of nationally recognised regulatory bodies for their field of expertise, normally Certified or Chartered Financial Planners or members of the Chartered Insurance Institute. Our partners have the necessary competence and will conduct the due diligence necessary, to ensure the products recommended meet the client’s needs and criteria and represent ‘best value’ and the provider is reputable.
HR First and our partners will work with the client to ensure the benefits are successfully implemented including:
- organising and supporting consultation meetings with staff;
- facilitating briefing meetings with staff and other stakeholders;
- serving notice to staff affected by the changes;
- collating and verifying membership forms and evidence;
- enrolling staff with providers ;
- implementing any payroll notifications.
HR First has worked with these partners successfully for many years and with many clients. Clients can be assured our partners have the ability to provide astute, exemplary advice and have our same commitment to outstanding customer service.