- Cost-effective solutions for pension, health and protection benefits for SMEs with up to 50 employees, delivered to employees via a digital communication platform
- Flexible offering aims to make it easier for smaller businesses to provide employee benefits without the need for dedicated HR resource
Broadstone, a leading, independent UK financial services consultancy delivering expert advice to employers, insurers, lenders and pension scheme trustees, has launched Elements+, a new flexible employee benefits proposition designed for businesses with up to 50 employees.
Elements+ brings together pension, health and protection benefits from leading providers, chosen by Broadstone’s experts and available on competitive terms. Businesses can select one, some or all the available benefits, depending on the needs and priorities of their workforce.
For start-ups and growing businesses, choosing and managing employee benefits can be a time-consuming and administratively challenging process, particularly for those without a dedicated HR team. Elements+ has been designed to simplify this process, providing access to a ready-made selection of benefits without requiring businesses to navigate the market and choose individual providers themselves.
Each business is supported by a Broadstone specialist through the set-up and launch process, helping to ensure its chosen benefits are in place and ready for employees to use to maximise the return on investment.
Businesses can also add Flexcel Elements, Broadstone’s employee benefits platform, which brings benefits information and employee communications together in one place. This can help reduce the administrative burden on employers, including the time spent responding to employee queries, while making it easier for staff to understand and make use of the benefits available to them.
The package launches in a competitive labour market as employees increasingly expect SMEs to offer the kinds of benefits traditionally associated with larger employers. This is particularly true of healthcare cover, with growing demand for employer-funded health benefits rising NHS waiting lists and pressure on primary care services.
Brett Hill, Head of Health & Protection in Broadstone’s Employee Benefits Consulting division, commented: “Smaller businesses face many of the same challenges as larger employers when it comes to attracting and retaining staff, but often lack the time and resources to put comprehensive benefits packages in place.
“Elements+ combines a range of quality pension, health and protection benefits, giving SMEs greater access to the support their employees increasingly expect, without the administrative burden of managing multiple providers themselves.”
Find out more about Elements+ on Broadstone’s dedicated webpage here: https://broadstone.co.uk/employee-benefits-consulting/elements-plus/
