Aston Lark discusses: employee benefits

Hello,

My name is Alison and I’m the business development director for Aston Lark’s Employee Benefits division. I’m taking over from Colin this week to discuss employee benefits.

A common question from businesses when talking about employee benefits is, is it possible for your business to be profitable and efficient while providing a happy workplace that attracts and retains the best staff?

For many businesses, implementing an employee benefits package is seen as an ambitious aim, but once in place they realise that it helps their bottom line; employees are happier therefore recruitment costs drop and their business continuity leads to stronger revenue growth. 59% of employees say employee benefits are “very important” to how they feel about their job and their employer*.

We find that small businesses which bring in an employee benefits programme can quickly see the advantage this brings to their business.

So what makes a good scheme?

Firstly, you need to determine what your employees want and would appreciate. Consulting with your staff will help them to feel engaged and ensures that your business is only paying for the benefits that are going to be seen as beneficial to staff.

Some of the most popular benefits include:

• Group Income Protection – provides cover to employees who cannot work because of long-term illness or injury to reduce financial strain.
• Group Critical Illness – provide employees with a lump sum of money in the event that they are diagnosed with a serious illness or condition. This can be in addition to any group income protection they may have.
• Group Life Assurance – a policy that is there to assist and provide comfort to an employee’s dependents during a difficult time.
• Group Medical Insurance – tailored cover to allow companies to provide their staff with access to specialist care to help them back to work faster.

These products are part of Aston Lark Employee Benefits small schemes offering which are aimed at businesses with a minimum of three and up to 50 employees. With over 25 years’ experience in the Employee Benefits division and an excellent relationship with our insurers, we’re able to provide high quality products for you and your employees.

If you’d like to find out more about our small schemes solution for your business, please call me on 020 7543 2874 or email alison.brench@astonlarkeb.com

* https://thinkingahead.uk.com/2017/04/04/employee-benefits-statistics/