Benefit Harmonisation
- Reducing Cost
Many organisations have a variety of benefit rules and providers in place, as a result of mergers and acquisitions, changes to benefit arrangements through the years, or as a result of complex grading structures.
- A benefits harmonisation project can enable you to:
- Improve the value of the benefits to the employees without impacting your costs;
- Reduce your costs by grouping employees together under single insurance schemes;
- Reduce your benefit administration;
- Simplify and improve reward communication.
However, benefits harmonisation is a difficult area to get right and requires careful management of all the financial and employee relations implications.
Our consultants can help you not only understand all the benefit rules you currently have in place, but will recommend a new benefits structure and source these benefits at the best price. We will help you understand all the financial implications of any changes and to manage employee communication throughout the process.
Flexible benefits is commonly used by organisations undertaking benefit harmonisation as a way of providing a new consolidated benefits framework.
