Employee benefit schemes ‘should be managed from the bottom up’

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Companies looking to run effective employee benefit schemes should manage them from the bottom up, it has been suggested.

According to the independent financial advisory firm Foster Denovo, the management of benefit schemes falls into two separate areas.

These are the administration of individual schemes and the communication of benefits to employees, senior partner Graham Tinney explained.

He said administration at the bottom level is key and effective use of technology and automation can save time and reduce the margin for error further down the line.

Mr Tinney also pointed out that balancing out employee benefits is increasingly important as company mergers and acquisitions become more common.

"You have to calculate the difference and give each employee an allowance so they can harmonise their benefits," he remarked.

A press release issued by Foster Denovo stated that companies should have a thorough communications programme to accompany their flexible benefits platform.

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