The joy of flex

KEY POINTS

• The basic principles.
• Ensuring that the scheme is effective.
• Variation of the contract and the right of reversion.
• Possible benefits for inclusion.
• Potential negative effects of the scheme.

The use of flexible benefits schemes as a means of delivering employee reward has been commonplace for a number of years. Nevertheless we continue to see an increasing appetite to develop and expand such arrangements amongst both employers and employees.

A growing appreciation of the requirements and needs of individual employees is encouraging businesses to give their workforce greater control over the make-up of their remuneration package.

By so doing employers hope to achieve that critical edge in differentiating themselves from their rivals in a competitive job market.

By grouping a broad range of employee benefits under the umbrella of a flexible benefits...