Better recruitment: Companies stand the chance of attracting better talent when they offer compensation with various flexible benefits.
Retain Employees: The objective of these principles is to ensure that the Company can retain employees with appropriate skills and qualifications for their respective duties.
Increases productivity: By offering a range of choices for FBP in salary, employers make a healthy and happy workforce, leading to higher productivity.
Financial Control: Flex plans allow for the employer to set a spending limit for each month, which leads to the business understanding exactly how much they will be spending every year on their plan. This control helps with budgeting at the end of the year.
The benefits package includes internally equitable and externally competitive salaries.
As well as such benefits as paid time off for holidays and vacations, insurance, retirement benefits and support for various other quality-of-life programs