As your business grows, usually this will involve hiring new staff, and integrating them into your business. You spend valuable time and resource to ensure they perform so they can contribute to the profitability and smooth running of the business. At some point you will want to decide how you can reward the team so they feel valued and feel like they have a long term future.
There are many way you can do this, and it’s not just about more salary. More businesses now look at flexible reward packages that can include the following:
- Lump sum payments to the family should your team member die or suffer a serious illness.
- Pensions- auto enrolment is now a requirement for most businesses, but you can offer enhanced contributions to their pensions above statutory minimums.
- Income replacement, should they suffer long term illness.
- Private Medical insurance- to help them get access to faster medical treatment.
Our highly qualified advisers can help you put together a package that rewards your staff in the best possible way that helps you retain the talent within your business.
The Financial Conduct authority does not regulate some aspects of auto-enrolment