Employee Benefits

One of the most common HR outsourcing areas is Employee Benefits. 3HR Financial Consulting Ltd can provide the full range of services and advice in the employee benefits area - fully integrated with a company's HR policies, and web-based if required. 3HR is independent of any service provider and is therefore able to source the most appropriate and competitive plans.

What types of employee benefit do 3HR handle?

We handle all of the standard benefits that can be offered to employees. For example: Pension Schemes, Medical Insurance, Life Cover, Income Protection Insurance, Flexible Benefits, Dental Cover, Personal Accident Cover and Critical Illness Cover.

Why should employers provide benefits for their staff?

Whilst companies need to be competitive and offer attractive products or services, committed employees can be the difference between a company failing or succeeding. In the long run, employees are a company's main asset. The cost of recruiting and training new employees is very high, and it follows that it is very much in a company's commercial interest to ensure its staff are motivated to give of their best. A good employee benefits package is a key factor in aiding companies with staff RECRUITMENT, RETENTION and MOTIVATION.

What other issues arise in this context?

Many benefit packages are perceived by staff to be ungenerous. Conversely, other packages which are generous are not perceived to be so because they have not been properly communicated or understood.

How can 3HR help?

Firstly, we can review an existing benefits package and 'benchmark' it against other schemes typically on offer by competitors in the same or a similar industry. Cost will be an important factor and we can report on whether existing expenditure can be lowered whilst still maintaining the same or better benefits. We can advise on whether the overall package is likely to be effective in attracting and maintaining the interest of the employees. We can advise on how the benefits on offer can be most effectively communicated to the staff. Essentially, 3HR can DESIGN, IMPLEMENT, COMMUNICATE & ADMINISTER all standard forms of benefit packages currently available across the market.

How can 3HR's approach best be described?

We provide very high service standards. We are creative in our approach. We want to ensure that our clients get the most effective results for their levels of expenditure - that is by maximising the employees' understanding and appreciation of the benefits package.

Can you give one simple example of how this can be achieved?

Yes. We believe very strongly in employees receiving 'Total Reward Statements.' These show graphically what overall benefits they receive from their employment.

CLICK HERE FOR AN EXAMPLE.