Employee Benefits
In any large organisation, providing a good employee benefits package isn’t just about being seen to be a caring employer. A good benefits package can help promote employee loyalty. It also plays a significant role in helping you attract and retain the right talent - and of course, a happy employee tends to be more productive.
But implementing the right scheme requires specialist insight and market knowledge. This is why many organisations come to Kirk Rice. Our qualified team of financial planners has the right experience to help your business make the right decisions.
You might want to find and implement a new scheme. Or perhaps you are reviewing an existing one. Either way, we’ll provide a free initial meeting to establish your company’s aims, and where we can help.
What you receive
Our advisers will conduct a full review and analysis of your firm’s current employee benefits provision if you have one. We’ll look at the quality of the scheme (or schemes) that you provide – including the range of cover – as well as price competitiveness. We’ll even have conversations with your existing providers to help us come to an informed conclusion.
Only then can we identify potential improvements. This might entail changes to areas that are not compliant, like auto-enrolment and workplace pension schemes for example.
We research providers across the whole market and we tailor recommendations on additional cover and product features to your business. As an example, we might make a private medical cover recommendation such as adding business travel insurance for employees that travel for work.
Matching benefits to the contracts of employees is another important consideration. One obvious area is income protection, where we might look at matching insurance to a waiting period that coincides with your sick pay policy.
While shopping around often means a better deal, it might prove more cost effective to add services to an existing scheme. Some in fact, may come at no extra cost – like best doctors, bereavement counselling and probate helpline.
Why Kirk Rice?
You can be sure that as an independent firm, Kirk Rice’s recommendations will be truly objective. This is because we are not restricted to recommending certain providers.
To make the process smooth, we’ll carry out the full implementation of a new or replacement scheme. This can be extended to include employee presentations or workshops for either groups or one to one. We can also provide an annual review to ensure you continue to provide the best cover to employees at the most competitive rate.
In terms of the day-to-day running of a scheme, we also take away most of the administrative burden. We can help you deal with leavers and joiners, for example.
Kirk Rice LLP is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). FCA Registration No: 531538.
Kirk Rice LLP is a limited liability partnership registered in England & Wales (Registered Number: OC354936) and having its registered office at The Courtyard, High Street, Ascot, Berkshire, SL5 7HP.
