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Business Drivers for Flex
Over the last five to ten years, the drivers for introducing flex have shifted significantly. In the early days flex was typically introduced to respond to employee demands and to minimise dual coverage of benefits.
Now it is much more focused on delivering benefits to the business:
- Controlling or even reducing the cost of employment.
- Defining or supporting the employer brand to establish the organisation as an 'employer of choice'.
- Reinforcing cultural changes within the organisation.
- Differentiating the organisation in order to recruit/retain key talent.
- Responding to differing and evolving employee needs.
- Providing a more flexible working environment to meet the needs of the business, customers and employees.
- Promoting the use of technology.
- Reducing administration costs through increased efficiency.
- Facilitating change e.g. in a post-merger or acquisition situation or in response to the current Inland Revenue simplification proposals.
A key part of any feasibility study is to understand what is driving the business to consider flex, to assess whether flex will, in fact, achieve the objectives set, and to build an appropriate business case to support this.
Global News
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Flexible benefits design and implementation