Choosing the right package for your business
Infinite Choice introduces its innovative “select and source” system, the most straightforward way to compare and contrast employee benefits that we know of…
We start by allocating any new or existing employee benefit and service to one of three main profiles for programme design: Core, Optional and Voluntary.
Core – Fundamental to a great programme of benefits, normally employer funded to provide essential protection with optional trading functionality if required. Examples would include: Retirement Planning, Life Insurance and Healthcare.
Optional – Offering additional coverage, normally co-funded by both employer and employee, with additional trading functionality if required. Examples would include: Holiday Trading, Critical Illness Insurance and Health Screening.
Voluntary – The final component of a great benefits programme. Whilst the employer may fund the product setup and manage the overall implementation, the employee funds the purchase of any additional products or services. Examples would include: Discounted Shopping Portals, Childcare Vouchers and Bike for Work schemes.
Next, each product is market reviewed to obtain best terms for premium and benefit levels. Reports are fully tailored to detail the critical information you’ll need to identify the most suitable benefits and services.
At a glance, you can see what mix of products would make up a truly dynamic employee benefits package, whilst simultaneously evaluating against your chosen budget.
Alternatively, you can select products that are the most cost effective or highly regarded in the workplace, or the easiest to setup, or most suitable for a flexible benefits regime, or the most tax efficient.