Services and products
Truestone Employee Benefits offers a wide range of consultancy services. Each can be accessed as part of a wider strategic review or on a stand alone basis.
Retirement benefits
The pension benefits that you provide to employees will probably be seen as the most important single element of their benefits package. Getting the optimum solution therefore is critical to the recruitment and retention of key employees.
Our consultants pride themselves on their skills and experience in managing and administering a wide variety of retirement benefit schemes. Whether you are starting from scratch or considering the redesign of your current arrangement you can talk to Truestone about how to proceed.
Stage one, is often an audit of what you presently have. We offer you a high level of expertise in measuring the success of your existing scheme; cost, investment performance, administrative service and its suitability for helping to meet your wider business objectives.
Flexible benefits
There has been an increasing trend towards flexible benefit provision as employers see the advantages of controlling benefit expenditure, long term administration savings and reduced employer NIC.
Truestone are able to implement the technology and source the benefits required to deliver a flexible benefits scheme, including:
- Childcare vouchers
- Dental insurance
- Private medical insurance
- Buying/selling holidays
- Critical illness cover
- Health screening
Voluntary benefits
Over recent years many employers have enhanced their benefits packages through the addition of voluntary benefits. These offer employees the chance to select and pay for additional benefits that suit there specific lifestyle.
Often the benefits are discounted for the employees such as personal insurances or gym membership while others reflect high profile government initiatives such as childcare vouchers and Bikes 4 Work.
Our experience indicates that employers are often disappointed with the take-up and appreciation of these benefits. Truestone can help you to design and source a truly valuable range of benefits, and importantly, communicate and promote the package to maximise its value in the eyes of your employees.
Group risk benefits
This area covers some of the key benefits that you can offer to employees. Life assurance to cover ‘death in service’ is seen as essential cover for many schemes. However, our consultancy and broking services also cover:
- Permanent health insurance – which provides tax free income if an employee is unable to work through illness
- Group critical illness cover – providing a lump sum in the event of a serious illness
The design and selection of these group risk benefits should be reviewed every two years to ensure you receive the optimum price and level of service for your schemes
We will help you regularly audit your schemes and assist you in the ongoing management and administration of them. Our service focuses on risk management, helping you ensure that schemes are correctly underwritten and claims are handled appropriately.
Healthcare
Caring for the health and wellbeing of your most valuable resource is essential to the efficiency and effectiveness of your business.
The provision of company sponsored healthcare has grown over recent years as many employers have started to appreciate the wide variety of schemes that now exist in this field:
- Group Private Medical Insurance
- Group Cash Benefit Plans
- Employee Health Screening Programmes
- Occupational Health Placement
- Employee Assistance Plans
- On-site Health and Wellbeing Assessments
With company directors having a legal duty of care in relation to the health and safety of their employees more forms of cover come to the market each year.
It is our experience and belief that corporate healthcare provision carries significant advantages for both employer and employee; providing compliance with regulations and directives but also improving morale and retention through ensuring that personal health issues are addressed.
Truestone will guide you through the sometimes complex options to help you find the most suitable solutions for your organisation.
Benefits communications
It is a constant frustration for HR professionals that employees overlook or undervalue their benefits package. The benefits package is the most powerful recruitment and retention tool a company has and that is why it must be effectively communicated.
Get the communication strategy right and the business can achieve long term savings. Get it wrong and much of the huge investment on benefits is wasted.
Truestone’s consultants have many years experience in planning and delivering effective communication strategies. We can advise on the messages, channels, materials and timing to ensure your investment in both time and money really does pay off for your business.
For more information on our employee benefits consultancy services call 0845 362 8426 or email employeebenefits@truestone.co.uk.
