ompanies seem to be more and more aware of the importance of fostering the satisfaction of their employees - both the present ones and the potentially future ones - in the entity where they dedicate their efforts and productivity. It is a vicious circle in which both parties win: the company, because it sees its numbers increasing, and the employee, because they feel valued and rewarded for being part of this process. Appreciation and reward are, in fact, the watchwords here - and they have a lot to do with flexible compensation.
Allocating flexible compensation is not just about promoting an increase in the net amount that employees have available per month, but a way for companies to give employees the freedom to choose to adjust their compensation to their needs. In the words of Bárbara Fonseca, People and Operations at Amplemarket, “companies are increasingly looking for the employee experience to be as adapted as possible to the reality of each one of them”. For example, for a young employee without children, it is probably not very relevant that the company facilitates issuing childcare vouchers. But for mothers and fathers, it can be a great support, and both positions are equally valid - if we are all different, why should our needs and preferences be the same?
In the words of Bárbara Fonseca, People and Operations at Amplemarket, “companies are increasingly looking for the employee experience to be as adapted as possible to the reality of each one of them”. For example, for a young employee without children, it is probably not very relevant that the company facilitates issuing childcare vouchers. But for mothers and fathers, it can be a great support, and both positions are equally valid - if we are all different, why should our needs and preferences be the same?
Thus, the salary can be managed with greater flexibility: it can be used to pay monthly housing bills (water, electricity, telecommunications…) and/or to save for those dream holidays, a new car or even relief in an eventual emergency.
And the rest? The rest is included in a separate "bundle", so to speak. If your company uses Coverflex, the amount allocated to benefits is available on the Coverflex card, and the balance and card movements can be checked in the app. Here are some examples:
Health and Well-being
We’re all aware of the importance of monitoring our physical and mental health, because without health we can’t do much - and, of course, the healthier we are, the better our productivity and performance at work can be. But we also know the weight that these expenses can have on the family budget.
With Coverflex, it is possible to take advantage of health insurance (to which your family members can be added) or even use the Coverflex card to pay for expenses in hospitals, clinics and pharmacies, as well as physiotherapy, psychology, massages and much more.
Meal
Meal allowance is possibly the most commonly included benefit in most employment contracts, and Coverflex has not left it out. With the Coverflex card you can pay for meals in restaurants or delivery services, or even stock up your pantry and cook at home, as your Coverflex card can also be used for grocery purchases.
Gym and Fitness
A healthy mind in a healthy body, the ancestors used to say, and we still have that in mind today. We know the importance that physical exercise has on health, self-esteem and mental relaxation and, therefore, we are giving you the possibility to use the Coverflex card to pay the fees for gyms and sports clubs.
Senior expenses
It is also important that the company recognises that there’s a personal and family side in life in which, in one way or another, we also have our role to play, which often involves taking care of those who once took care of us. Therefore, the senior expenses benefit includes expenses and medical assistance at senior homes and senior daycare centres, among others.
Coverflex Childcare
You can also relax when it comes to the little ones. Coverflex Childcare vouchers are intended to pay for daycare centers or kindergartens for children up to seven years of age.
Education Expenses or Professional Training
School material, online courses or language courses, for example, are covered by the Education Expenses benefit, which you can enjoy through your Coverflex card.
Learning is a constant journey through life, and Coverflex has you covered too: if you want to learn a new language, take an online course or learn on your own with the help of technical books, for example, you can do so through the Professional Training benefit. In addition, there are training sessions that are required by the company itself in order to improve or update the professional skills of employees. Coverflex helps in this case as well, and all parties win.
Public transport
The benefit that helps the employee to cover transport cards is also one of the most common benefits and, once again, Coverflex covers it too. Through this benefit, you can purchase the transport card to travel daily by public transport - and don't worry: the invoice is paid by the company.
Technology
In an increasingly technological world there are things without which it is impossible to work - however, as you know, products often wear out quickly, need to be updated, or simply the unforeseen happens. There is no reason for this to affect your performance and, consequently, the role you play in the company. Therefore, there’s another available benefit at Coverflex that consists of reimbursement (up to €999 excluding VAT and limited to once per semester for each type of equipment) for the acquisition of work tech products such as computers, smartphones and tablets. In addition, your company can also choose to activate a specific benefit for Apple products for employees. In this case, you'll be able to purchase Apple products, such as MacBooks and iMacs, iPhones, iPads, Apple Watches, Apple TV, headphones and accessories, without VAT and with a discount of up to 10%.
In short, if your employer makes all these benefits available to you, on a given day you can go to the gym early, take the public transport to work, have lunch, pick up the children from kindergarten at the end of the day, stop by the shopping centre to buy some groceries or replace your work computer that is just not great anymore, and/or finish the day with that online training that will help you jump-start your career. Or you can have a completely different day - that's the advantage of flexible benefits. You are the one who chooses, managing the balance according to your needs and priorities.
And the base salary in all this? This one is left aside, for the rest, for whatever you want.
Truly empowering, isn't it?
