Following an introductory call with our client, it came to light that the company did not have a PSS/EVSS in place and they were looking for ways to increase employee retention.
We suggested implementing these schemes to provide additional employee benefits while also creating cash savings for both the employee and employer.
Our support included holding a Key Decisions Workshop where we met with the senior management team at the client’s offices to provide our advice and recommendations with designing an effective salary sacrifice arrangement that complies with UK tax legislation. This includes consideration of national minimum wage and statutory pay rules while also aligning the arrangement with the businesses' HR and payroll needs.
We also drafted employee communications including covering letters, FAQs, Opt-out forms and suggested wording to include in contracts of employment for new employees.
Annual cash savings for the employer and employee due to less NIC payable on salaries to HMRC. Improvement in employee retention through an increased benefits package positively contributing to Employee Value Proposition (EVP).