Flexible Benefits (Flex)
Quantum has developed a flexible benefits product specifically designed for small and medium-sized enterprises (SMEs), called QChoice or Flex
QChoice is an online flexible benefits portal offering a great way to ensure employees have one central point of reference for their employee benefits. The portal ensures that employees have easy access to information, reminding them of all the benefits provided through their employment, plus a Total Reward Statement (TRS), which shows employees the true value of their employment benefits package.
Do you know what your employees really want?
Employers need to ensure that they protect their investment in people. Good employers will do this by engaging, motivating and ultimately retaining employees through the provision of staff benefits.
Whatever the size of your organisation, understanding your employees’ motivations remains a key ingredient in the successful launch of any flex scheme. This can start by conducting an employee insight survey. With the huge variety of benefits available today, it’s important to remember that providing employees with a choice of benefits is, on its own, not enough; it needs to be the right choice of benefits which helps ensure an engaged employee population.
However, the workforce has changed: employees are more demanding, are often engaged by technology, are time conscious and want the ability to make decisions ‘on the go’. With employees becoming disengaged at work, we need to find innovative ways of meeting the growing needs and expectations of today’s workforce.
QChoice delivers a fully mobile, responsive experience, enabling employees to make their choices via smartphone, tablet or desktop. ‘Anytime, anywhere’ is now a reality, rather than a dream.
- QChoice, Quantum Advisory’s flexible platform makes the process of selecting employee benefits easy for your employees with a few simple steps. By ensuring your employees have all the information they need to make the right choices
- QChoice allows employees to tailor their benefit packages by choosing the right level of cover or benefit for them – QChoice ticks every box! QChoice takes away the pain of having to do due diligence on benefit providers from an employer and the need to negotiate terms, as QChoice has already undertaken the due diligence and secured pre-agreed pricing to ensure you deliver the most competitive solutions available!
- The Risk of doing nothing
Replacing staff is an expensive business; firms have long understood that losing staff is a key risk to success, but the financial cost of staff turnover has received little attention. Many organisations tend to underestimate the costs associated with recruitment and retention.
- Getting value for money
Few companies know what their return on investment is from their employee benefits package. Many don’t even know which perks are most popular or why. Boosting salary might sound like the easiest option for improving benefits, but it will hardly be the most cost effective. By way of an example, an organisation employing 200 staff, each earning an average £20,000, will spend an extra £40,000 per annum having given a 1% pay rise. For a fraction of this cost, the same organisation could implement Flex and start to develop a far more engaged workforce.
Further reading
Employee Benefits Flyer
QChoice flyer
