Planning financial benefits for employees has far-reaching repercussions for your staff recruitment, retention and satisfaction rates. Which in turn can affect your profitability and the financial future of your firm.
As specialist financial advisers for employers, we can help you evaluate and identify the best benefits package for your people and your business.
Private Medical Insurance helps you to look after your employees when they need help most. It can be an important part of a recruitment and retention strategy, helping to attract and keep the right people. It can be arranged for all staff (group cover) or for individual staff and is complementary to the services provided in the UK by the National Health Service (NHS). It may also be organised on an international basis for expats in the UK and for employees who regularly travel internationally on business.
Paying for private health insurance offers valuable advantages:
- shorter waiting times
- quicker diagnosis
- better facilities, such as a private room
- access to specialist drugs and treatment which may not be available on the NHS or affordable to pay for directly
Altyx Financial Planning can help you make the right choices and tailor plans to meet your business’s needs and your budget.
Group Life Cover is not only cost-effective and simple to set up, it is also a highly valued benefit which provides a clear advantage in attracting and retaining top talent. As well as encouraging staff loyalty and demonstrating a genuine care for staff welfare. It is often put in place to cover all employees and tends to be a multiple of an individual’s salary.
Group Critical Illness Cover. The diagnosis of a serious illness, such as cancer or heart disease, is a devastating event for thousands of people every year. When you arrange group critical illness cover, you’ll enable a tax-free lump sum pay-out to employees diagnosed with a serious illness. This will alleviate the financial impact an illness may have on your employees and give them both emotional and financial support in the event of a life-changing illness.
Group Income Protection Insurances are used to provide a replacement income if an employee is absent from work through long-term illness or injury. As well as the financial support, it may also provide access to rehabilitation services that help employees return to work, available from the earliest stages of absence. In the main market, the products available provide between 50% and 75% of an individual’s salary for a set period of time.
At Altyx we believe that it is important to provide your employees with a strong understanding of the benefits you offer, so we can also deliver employee presentations directly to your people.
To discover which financial benefits best suit your business, send our team an email or give us a call on + 44 (0)207 439 8509.