Whereas a few years ago, personnel budgets were
expanding to attract more staff and retain experienced employees
and additional (“new age”) benefits were being offered
in order to meet this objective, HR departments are now being
confronted with frozen or declining budgets whilst they still
need to accommodate the expectations of their key employees.
On top of this, the challenging economic circumstances are demanding
even greater flexibility and drive from the workforce. It is
therefore essential that the best possible use is made of available
personnel budgets and that, instead of giving new benefits “on
top”, the existing budget is optimised and adapted to
the individual needs of the employees.
PricewaterhouseCoopers experts can help you to implement flexibility
in your reward scheme within the existing tax and legal framework.
Flexible Reward
offering
In a Flexible Reward scheme, an employer offers all or some
of its employees a (clear-cut) choice on how their compensation
package is made up.
The aim is an optimum net/total cost ratio, whilst offering
you reassurance in the faith of a fully legally compliant solution.
A Flexible Reward scheme can be set up in a variety of ways
and can consist of different elements. PricewaterhouseCoopers
provides tailored assistance. Tailored to your needs for assistance
and tailored to your reward scheme.
a
one-off Flexible Reward exercise, or a continuous process allowing
for individualised and customised flexibility
Flexible
Reward for the entire company or modulated for a specific group
or an individual staff member
a
flexible package composed of “new age” benefits
or standard compensation and benefits components that already
exist within the company today
Our Flexible Reward
methodology
We use a six-step plan to evaluate the feasibility
of a given Flexible Reward arrangement.
1. Short-list the components you wish to make flexible
2. Analyse the constraints and opportunities for each
3. Choose the components to be made flexible
4. Simulate the impact of those choices using a calculation
tool
a
one-off Flexible Reward exercise, or a continuous process allowing
for individualised and customised flexibility