15-10-2008
Communication and administration key to managing staff benefits
Effective communication and administration are the most important 'keys' to managing staff benefits, one independent financial advisor (ifa) has stated.
According to Foster Denovo, organisations looking to run these schemes more efficiently need to focus on them from the 'bottom up' and ensure staff are fully aware of how they work.
Graham Tinney, senior partner at the company, speaking at Employee Benefits Live 2008, said: "It falls into two areas - administering benefits, which is the management of them because the management is through the administration, and also the communication of them to employees."
An ifa such as Foster Denovo would "ask a company to let us manage and administrate their benefits from stage one, often through using technology" but the type of management required by each firm is down to the benefits they possess, he added.
Findings from a survey by Hyman Robertson revealed between a quarter and a half of UK employees felt they would lose their jobs in 2008.
This proportion were equally concerned about the value of their pay and benefits packages dropping, said the firm.
News by Adfero for Simply Business – independent providers of business finance, public liability insurance, landlord insurance, buy-to-let mortgages & commercial mortgages.
