Employees often expect a reward package beyond salary alone. As recruiting the right talent becomes increasingly challenging, designing the right employee benefits packages is more important than ever to secure and retain the right employees for your business.
Employees are seeking out increasing flexibility from their careers and look for employee incentives that suits their needs.
Maintaining the right balance between flexibility, reward, personal development, performance, choice, risk management, compliance and cost can be a challenge. Adding to the complexity is evolving hybrid working practices and ever-changing tax and National Insurance Contributions (NIC) legislation.
Our people advisory services team includes specialists in employment tax, HR, payroll and share plans options as well as employment lawyers. Together, we can help you create the optimum talent retention strategy and rewards offering for you and your workforce, providing advice on:
• the pros and cons of hybrid working in various scenarios and employment law considerations;
• employee surveys and attitudes towards the current overall employment offering;
• benchmarking pay and benefits against local market and industry sector comparable;
• the ways that hybrid working impacts on employment terms, tax relief and benefit reporting obligations;
• performance based reward and longer-term incentives;
• efficient structuring of pay and benefits arrangements, such as salary sacrifice;
• company cars, fuel and cost-effective alternatives;
• the impact of optional remuneration legislation; and
• developing staff using the apprenticeship levy.
Our partnership with Gallaghers
We work with Gallaghers Benefits Services to provide a holistic reward advisory service, including employee benefits consultancy. Together, we will help you evaluate your benefits strategy and deliver a total reward package that drives your employee engagement and retention goals.
RSM’s Head of People talks through some of the things that you can do to support your workforce and keep them engaged.
Employee recruitment, engagement and retention are major HR challenges for middle market employers. In our recent Modern Workforce report, we describe how employers can overcome these key people issues.