Benefit harmonisation
Many organisations have a variety of benefit rules and benefit structures in place, as a result of mergers and acquisitions, changes to employee benefit arrangements through the years, or as a result of complex grading structures.
An employee benefit harmonisation project can enable you to:
- Improve the value of the employee benefits to the employees without impacting your costs;
- Reduce your costs by grouping employees together under single insurance schemes;
- Reduce your employee benefit administration;
- Simplify and improve reward communication.
However, benefit harmonisation is a difficult area to get right and requires careful management of all the financial and employee relations implications.
Advantages of benefit harmonisation & benefit structure recommendations
Our consultants can help you not only understand all the employee 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 benefit schemes are commonly used by organisations undertaking benefit harmonisation as a way of providing a new consolidated benefits framework.
If you would like to know more about Benefit Harmonisation, please contact us.
A member of our consultancy team will get back to you right away.
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