Flexible benefits: what they are, types and how to offer them in your company

Flexible benefits offer a way to customize the benefits package for each employee, providing an experience more tailored to individual needs.

But what are flexible benefits? How do they work? And what are the advantages of adopting them in your company? Here are the answers to these and other questions!

What are flexible benefits?

Flexible benefits are a category of corporate per ks that allow employees to choose from various options to customize their package.

So, unlike traditional packages, which are usually fixed for everyone, flexible benefits offer employees the chance to select what makes the most sense for them.

It's important to remember the difference between benefits and labor rights. These rights are legal guarantees established by legislation or collective agreements, ensuring basic conditions for workers, such as:

• Minimum wage;
• FGTS (Severance Indemnity Fund);
• Paid vacation;
• Thirteenth salary;
• Overtime.

Benefits, on the other hand, are additional advantages offered by the employer over and above mandatory employment rights.

Can any benefit be flexible?

Flexible benefits are those that allow options and customization to meet the individual needs and preferences of employees. Thus, not every benefit can be flexible, but many of them can be adapted to offer greater personalization.

Health-related benefits, such as health and dental plans, can be flexible, allowing employees to choose between different levels of coverage or providers.

Other benefits such as food stamps and meal vouchers can also be customized, giving employees the option of selecting the amount or type of benefit they wish to receive.

Can any company offer flexible benefits?

Yes, any company can offer flexible benefits, regardless of its size or sector!

Offering flexible benefits is an effective strategy for attracting and retaining talent, but it requires planning and analysis of employees' needs. In addition, companies need to consider issues such as costs, regulations and the administration of benefits to ensure that everything works properly.

What are the differences between flexible and traditional benefits?

The main difference between flexible and traditional benefits is personalization. Traditional benefits tend to be a fixed package offered to all employees, without much room for choice. Thus, some of the main ones are:

• Health insurance;
• Dental plan;
• Food vouchers;
• Life insurance;

Flexible benefits, on the other hand, allow each employee to choose what is most relevant to them. This creates a more personalized experience and can increase job satisfaction and engagement.

What are the main types of flexible benefits?

Among the main ones are:

• Flexible health plans;
• Adjustable food or meal vouchers;
• Optional transport voucher;
• Flexible working hours;
• Home office or remote work;
• Flexible days off;
• Support for professional development;
• Credits for wellness activities;
• Financial assistance for transportation or fuel;
• Psychological support or coaching.

What are the advantages of flexible benefits?

As it is different from the traditional model, where companies create the benefits package for employees, the flexible model offers a number of advantages that could not be achieved without the implementation of the novelty, see:

• It allows employees to choose the benefits that best suit their profile;
• It makes sure that employees are satisfied with the benefits, from the operational level to the top of the organization;
• It prevents employees from taking actions such as selling VR, which could lead to dismissal for just cause;
• It increases satisfaction and, consequently, productivity, engagement and performance levels;
• It has a positive impact on retaining and attracting talent;
• It makes it easier to monitor employee history, collecting data and using it to help make decisions.

How can you offer flexible benefits in your company?

Before offering flexible benefits, it is essential to understand what is most important to employees. Conduct internal surveys, interviews or focus groups to identify which types are most valued. This step is essential to ensure that the flexible benefits package reflects employee expectations and provides relevant options.

In addition, define the budget for flexible benefits, taking into account implementation costs, the number of employees, the variety of options and long-term financial sustainability. In this way, the budget will determine the range of options the company can offer.

Based on the diagnosis of needs, draw up a flexible benefits catalog. This catalog should include a variety of options, such as health plans, food vouchers, flexible working hours, home office, among others. It's important to have a variety of options to suit different employee profiles.

And to manage flexible benefits efficiently, use a platform. It should allow employees to choose their benefits and HR to monitor take-up and use. The platform should be intuitive, secure and able to provide reports for analysis.

What is a flexible benefits platform?

To understand about flexible benefits, you first need to understand the traditional dynamics of companies when it comes to offering them. Usually, HR decides which benefits will be offered to employees, such as health insurance, meal vouchers, food vouchers, etc.

In the flexible model, benefits are offered, but the employee chooses what best suits their profile. They also have the freedom to transfer their balance between benefits. For example: if they don't want to use their entire balance on meal vouchers, they can choose to spend it on something else, such as fuel, gym memberships, cultural programs, etc.

So the difference lies in deciding what will be used. And to make this choice simpler, easier and more assertive, flexible benefits platforms have been developed where the employee can manage the amount available and the places where they would like to use it.

How to implement a multi-benefit platform in my company?

If you want to have this freedom in the organization where you work, contact us!

Alymente is a flexible benefits platform with up to 9 categories, no monthly fees and, contrary to what many people think, no setup costs. It's very simple, all you have to do is contact our sales team to register the company and its employees and that's it! The next step is to top up and get using.

To find out more, visit our website!

Image credit: Freepik.