mplementing flexible benefits boosts employees' salary, helping them optimise compensation and save significantly on day-to-day expenses. But it's also a factor that ultimately frees up human resources (HR) professionals, giving them more time to focus on what really matters: people.
For HR managers who are thinking of implementing a flexible compensation system in their company, here are five reasons why we think they should choose Coverflex:
1. The choice is up to the employee
Letting people choose the benefits that work best for them reduces the time HR professionals spend budgeting for certain benefits, or thinking of cross benefits that work for all employees in the company. In addittion, personalisation will always be much more effective than standardisation.
Usually, in addition to being responsible for the remuneration policy, some of the professionals in the HR department are also responsible for the entire operational management of the benefits provided by the company, a task that can be demanding and fill several working days.
With our all-in-one flexible benefits solution, all management is done on a single platform, in an integrated and unified way, without resorting to various tools, which saves time for the HR team, puts an end to bureaucracy, and maximises savings for the company. This model is ideal for promoting the decentralisation of processes that traditionally burden HR.
3. Centralised reports and processes
Another advantage worth taking into consideration is the possibility of obtaining personalised employee reports in real time and in an automated way, as well as the possibility of having more control in daily management.
Also, with proper monitoring of employees' option history, it is possible to design strategies to reduce benefit costs - valuable data that optimises and facilitates the work of HR departments.
4. Tax optimisation
Dealing with costs that limit hiring, as well as salary and incentive increases, is a common reality in most organisations, and an added challenge for Human Resources departments.
Betting on a flexible benefits policy means tax optimisation, as the company can give more to employees while spending less.
5. Talent attraction and retention
Providing flexible benefits contributes to making the company's value proposition more attractive to employees. Taking this step will certainly have a positive impact on employee satisfaction and motivation, as well as on attracting new talent.
It's a great asset that can help HR managers achieve their goals in what comes to attracting and retaining people, and in what it comes to doing it more quickly.