A shrinking labor market, an extended working life and current social developments – such as the changing expectations of the younger generation towards working life and employer – force companies to care about employer attractiveness more than before to stay competitive. Modern ancillary services like flexible benefits offer employees the possibility to choose individual and need-based services. As elements of the compensation package, they substantially contribute to increasing the perceived attractiveness of an employer while meeting the needs of the different generations. Employees can select benefits that fit their age and life situation. The result is an increased staff retention. The integration into an overall concept of life-phase oriented human resources development brings advantages for employers and employees. However, the flexibility of the benefits systems does not have to require additional administrative efforts.
Comprehensive solutions from a single source.
Lurse advises you on the development and implementation of a modern benefits portfolio which is in line with the company’s total compensation philosophy. The focus is on the design of custom-fit solutions which cover all areas that are to be optimized – especially company pension schemes. The service portfolio includes the dialog with all involved stakeholders as well as the implementation of the selected solution in your company. This comprises all relevant services, such as general advice and model design, actuarial services, administration, and employee communication. Lurse does not only assist you, the employer, but is also available for giving advice to each of your employees – either in a direct dialog or via appropriate communication and administration tools.
Implementation phases for a flexible benefit model
The introduction respectively reorganization of flexible benefits requires individual and need-based project planning. The following method has been found to be successful in practical application.
The focus of the analysis and benchmark services is on the costs of the current benefits of a company and their spread across products and staff members. During this phase, all benefit costs are calculated and assigned. An employee survey makes it possible to illustrate the employees’ appreciation of and the need for the benefits which are currently available in the company.
By determining the monetary value of the benefits (“gross equivalent”), it is possible to show the total compensation of the employees. This creates transparency and indicates possibilities for cost optimization (total compensation approach).
The analysis phase also includes defining in line with the general objectives which products are to be retained and what are the so-called “lighthouse products” that are particularly attractive and innovative for employees.
During the design phase, different model variations and cost scenarios are calculated and evaluated through a detailed strength/weakness analysis. This includes the evaluation regarding insurance, social security, and employment laws.
Migration scenarios must be developed for the implementation of the selected model. A central aspect here is to pay attention to the company-specific IT-technical requirements. The efficient and customer-friendly administration of the models plays an important role in the implementation. Lurse’s “Employee-Benefits-Self-Service-Tool (EBSST)” is a portal to support employee communication via the internet. One of its purposes is the representation of guidance, range, administration and the presentation of the contract portfolio of occupational compensation schemes in your company. Additionally, all benefits offered by your company (company car, e-bike lease, kindergarten allowance, etc.) can be maintained as modules for the optimization of compensation.
Lurse assists you in creating transparency about your new system and in the communication to all employees. This ensures that employees appreciate the new system, allowing companies to present themselves as attractive employers in the long term.