How to implement a flexible benefits system in the company?

Putting a flexible benefits system in place in your company is a great way to increase employee satisfaction and get amazing people analytics data for HR. 

Today, those who bet on this model of benefit are ahead of their competitors in the market. Potential talents see this type of offer with different eyes, and this may be the differential when it comes to accepting or not an offer. 

Therefore, throughout this article you will learn more about:

• what a flexible benefits system is;
• the advantages of flexible benefits
• how to implement in your company. 

What is a flexible benefits system anyway?

To understand a flexible benefits system, you first need to understand the traditional model. 

In the traditional system, the company's HR defines which benefits the employee will have access to and what the amounts will be. Generally, the employee is held hostage by a series of different cards (VT, VR, VA, gasoline vouchers, etc.) and can only spend that value in the establishments defined for that purpose. 

However, in the flexible model, the company also decides what benefits will be offered, but the employee can choose where and how they want to spend them. In other words, if it makes more sense for him to go shopping with the food value, he can do that instead of using it to eat in restaurants, for example. 

But if HR wishes, it is also possible to define specific amounts that can only be spent on certain categories. The central idea here is precisely the question of flexibility, of creating your own rules for benefits. 

What are the advantages of flexible benefits?

With modernity and new working models came the need to adapt the way we offer benefits to employees, and flexible benefits systems arrived to meet exactly this need. 

The great highlight of the advantages of this type of system is the possibility of personalisation, with the chance to create adaptations for each employee profile. According to the 2020 Buyer Behaviour Study by Demand Gen Report, personalisation is one of the biggest trends for the coming years. 

The explanation is that today we place much more value on the experiences that are offered in the most diverse services consumed on a daily basis. It is the chance to stand out and be more competitive, satisfying even more those who use the final product. 

Flexible benefits, in addition to the huge range of possibilities because of their customisable nature, also offer:

• increase in employee satisfaction and motivation;
• decrease in turnover;
• aid in retaining talent;
• help in attracting new talent;
• people analytics data that can be used to create various strategies.

How to implement this system in the company?

Now that you understand how the flexible benefits system works, let's talk about how to implement it in your company. Here with Alymente, it's a lot simpler than you might think. 

The setup is very simple! From the moment a company closes with us, the first step is the signing of the contract, to ensure compliance on both sides. 

The next step is to upload the list of all company employees to Alymente's back-office. This process is extremely simple and can be done in a few minutes. 

Then, should it be in your company's interest to offer the Mastercard flag card to the teams, simply request them. 

Here, there are two different options for the delivery of the cards. You can choose to request that a batch with all the cards arrives directly at the company's HR or choose individual delivery at each employee's home, which is an excellent idea for those who work in the home office model. 

Regardless of the option chosen, once employees have already been included in the back-off, it is possible to start using the benefits even before the card is delivered using our digital platforms. 

To top-up your benefits, simply place an order with Alymente. We will issue you a bill and as soon as it is paid, the balance will be available for everyone!

It's simple, quick and easy! Are you interested? Contact us to receive all our materials and schedule a conversation! :)