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My Benefits World

Guiding you through the world of employee benefits
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Employee benefits

My Benefits World can provide your business with a wide range of employee benefit options. From company paid benefits, which provide support in difficult and challenging times, to voluntary benefits that come at zero cost to the business but make a big difference to the lives of your employees and their families.

What We Do

Company Paid Benefits

Benefits provided by your business to support your employees

602x352 Charitable GivingIn the Company Paid Benefits section you will find information on benefits your company can buy for employees.  

Company paid benefits include Life Assurance, Income Protection, Private Medical Insurance, Health Cash Plans and the Employee Assistance Programme.  If you currently have any of these schemes already in place we can provide benchmarking/market reviews of your existing arrangement.  Regardless if your budget is £10 or £1,000 per employee per year, there is the opportunity to add value to your employment package.  My Benefits World works with companies from 3+ employees.  

My Benefits World can explain to employees how the company paid benefits you are providing work and how they provide support if called upon to be used.  If you offer any additional perks such as training and development, study leave, sabbaticals, car parking, team lunches, or local deals and discounts we can also assist in  raising awareness of these benefits with employees.

The benefits in this section help reward, retain, engage and motivate staff and can help make your business an employer of choice.

Voluntary Employee Benefits

Benefits your employees pay for through their salary at no cost to your business

peter-kasprzyk-134810My Benefits World offers your business the ability to provide employees with access to a wide range of (employee paid) voluntary benefits.  All of the benefits have been designed to be simple to administer with online application. If employees have any questions or queries they can contact us directly. 

There is no requirement to liaise with numerous different employee benefit providers, My Benefits World provides a one-stop-shop point of contact. The benefits can either be provided through the Benefits Management System (BMS) or on a standalone basis. You can choose to offer your employees as many or as few benefits as you wish.

My Benefits World will provide your business with management information (MI) reporting on the utilisation of your employee benefit as well as up to date information on the latest trends in employee benefits and the impact of any forth coming  legislation.

Benefit Management System

A portal which brings your employee benefits package to life

lighthouseThe Benefit Management System (BMS) allows your employees to interact with all of the benefits you offer in one online hub or portal. Through the BMS Employees can view details of core benefits such as pension and Life Assurance and if permitted under your scheme rules, change their contributions / cover levels. The Benefit Management System can be tailored to your requirements, from purely acting as a communication hub for voluntary benefits through to interacting with core benefits and bespoke functionality such as single-sign-on and pension fund valuations. Employees can apply for their voluntary benefits with a clear understanding of the advantage of the benefits and the savings they can make.

One of the most valued sections of the BMS is the dedicated wellness section focusing on mental heath issues to support your employees wellbeing.  

There is the optional to include a Total Reward Statement to provide visibility of the true value of your overall employee benefits package.  This places a value on the benefits you provide and displays the savings employees are making.  The BMS can also manage benefit pots, for example, if you wish to allow your employees the flexibility to spend a given amount on employee benefits of their choice.  BMS produces reports for payroll deductions and management information on the utilisation of the benefits.  BMS is fully Smartphone / Tablet / Desktop compatible

Company Paid Employee Benefits

Benefits provided by your business to support your employees

Voluntary Employee Benefits

Benefits your employees pay for through their salary at no cost to your business

Benefit Management System

A portal which brings your employee benefits package to life

Company Paid Benefits

602x352 Charitable GivingIn the Company Paid Benefits section you will find information on benefits your company can buy for employees.  

Company paid benefits include Life Assurance, Income Protection, Private Medical Insurance, Health Cash Plans and the Employee Assistance Programme.  If you currently have any of these schemes already in place we can provide benchmarking/market reviews of your existing arrangement.  Regardless if your budget is £10 or £1,000 per employee per year, there is the opportunity to add value to your employment package.  My Benefits World works with companies from 3+ employees.  

My Benefits World can explain to employees how the company paid benefits you are providing work and how they provide support if called upon to be used.  If you offer any additional perks such as training and development, study leave, sabbaticals, car parking, team lunches, or local deals and discounts we can also assist in  raising awareness of these benefits with employees.

The benefits in this section help reward, retain, engage and motivate staff and can help make your business an employer of choice.

Voluntary Benefits

peter-kasprzyk-134810My Benefits World offers your business the ability to provide employees with access to a wide range of (employee paid) voluntary benefits.  All of the benefits have been designed to be simple to administer with online application. If employees have any questions or queries they can contact us directly. 

There is no requirement to liaise with numerous different employee benefit providers, My Benefits World provides a one-stop-shop point of contact. The benefits can either be provided through the Benefits Management System (BMS) or on a standalone basis. You can choose to offer your employees as many or as few benefits as you wish.

My Benefits World will provide your business with management information (MI) reporting on the utilisation of your employee benefit as well as up to date information on the latest trends in employee benefits and the impact of any forth coming  legislation.

Benefit Management System

lighthouseThe Benefit Management System (BMS) allows your employees to interact with all of the benefits you offer in one online hub or portal. Through the BMS Employees can view details of core benefits such as pension and Life Assurance and if permitted under your scheme rules, change their contributions / cover levels. The Benefit Management System can be tailored to your requirements, from purely acting as a communication hub for voluntary benefits through to interacting with core benefits and bespoke functionality such as single-sign-on and pension fund valuations. Employees can apply for their voluntary benefits with a clear understanding of the advantage of the benefits and the savings they can make.

One of the most valued sections of the BMS is the dedicated wellness section focusing on mental heath issues to support your employees wellbeing.  

There is the optional to include a Total Reward Statement to provide visibility of the true value of your overall employee benefits package.  This places a value on the benefits you provide and displays the savings employees are making.  The BMS can also manage benefit pots, for example, if you wish to allow your employees the flexibility to spend a given amount on employee benefits of their choice.  BMS produces reports for payroll deductions and management information on the utilisation of the benefits.  BMS is fully Smartphone / Tablet / Desktop compatible

Why bother with employee benefits?

The cost of replacing a member of staff could set your business back between

£0

AND

16001

Retention

A recent study by Oxford Economics put the figure of replacing a member of staff between £16,000 and £31,000 by the time recruitment, interviewing time, lost productivity and getting the candidate ‘up to speed’ were taken into account. Stating the obvious it makes good business sense to retain valuable employees, yet the number of companies we come across who time and again only show how much they value an employee only when they express their wish to leave.  Help make your employees feel valued but offering a range of employee benefits which support them and their families.   

Motivation

Motivation is the most powerful emotion which employees bring to work each day, essentially “why I am bothered to do my job?”  Giving access to employee benefits help motivate employees by showing that your organisation values them.  “My organisation gives me access to products and services which will help make my life or personal situation better and/or provide peace of mind for my family”.

Absence

According to a recent report (CIPD, Absence Management, 2016) the average level of employee absence is between 6.3 and 9.3 days per year at a cost to UK businesses of £835 per person. Many of the benefits can help reduce absence through proactively encouraging employees to look after their health and wellbeing.  Wellbeing: “the state of being comfortable, healthy, or happy”. A recent and comprehensive study (GOV.UK – Review of evidence on employee wellbeing and its potential impact on workplace performance) suggests improvement in wellbeing will result in improved workplace performance: in profitability (financial performance), labour productivity and the quality of outputs or services.

Attraction

Getting your employee benefits offering right can help to make your business an employer of choice.  We often help businesses put together employee benefits guides which go out with offer letters or give access to read-only versions of the Benefit Management System to allow prospective employees to browse what they can expect if they join your business.