Employee benefits is a common term used to describe insurance products that are designed to manage and mitigate business risks for their employees.

They are used to help businesses:

  • Retain, recruit and engage employees by improving employee engagement, health and productivity
  • Improve financial wellbeing by increasing the value for money spent on benefits
  • Be identified by their workforces as caring and the kind of employers people want to work for
  • Support workforce diversity, including those who are now working for longer

Employee Benefits schemes are high-value, low-cost benefit options for businesses and employers that want and/or need to offer something more to their employees as part of a wider rewards and wellbeing strategy.

The three main Employee Benefit product areas that we advise on are:

  • Healthcare
  • Group Risk
  • Wellbeing

Employee Benefit schemes are generally quite straight forward, but you should still obtain independent advice when setting up new schemes or reviewing existing schemes to ensure that:

  • Required levels of insurance cover are continually provided
  • There are no unintended or unidentified gaps in cover
  • Benefits are provided as tax efficiently as possible
  • Employee benefit insurance schemes are regularly reviewed
  • You are kept aware of any regulatory requirements or changes