Sage Employee Benefits offers small business owners the opportunity to provide benefits packages including medical, life insurance, income protection, pensions, travel and dental insurance. Provided via Mercer’s mercer-elect solution, the service harnesses Mercer’s strong relationships within the insured benefits market developed from its work with multi-nationals. The proposition is designed to give SMEs – looking to provide cover for up to 100 employees – access to competitive rates and leading benefits normally only available to larger organisations.
“Whilst most employers understand the significance of offering a benefits package, SMEs still have concerns regarding costs and the time required for administration. That’s why Mercer and Sage launched Sage Employee Benefits with mercer-elect. Designed with small business owners in mind from day one, it makes bespoke benefit packages simple to roll out and easy to manage at an affordable price,” explained Matthew Forrest, head of services, Small Business Division, Sage UK.
The Sage Employee Benefits solution simplifies the administration associated with running a benefits scheme by providing a secure online portal, which both employers and employees can access via their PC anytime they need information. The ‘anytime access’ helps free up entrepreneurs’ time allowing them to spend more time focusing on running their business.
Users of the service also benefit from access to Mercer’s teams of specialist advisors who provide expert guidance and insight on the latest legislation and market developments. This is all aimed at ensuring that SMEs are getting the most value from their packages.
“To think that employee benefits packages are the exclusive preserve of big business is simply wrong. When the changes brought about by the Pensions Act 2008 start to come into effect from next year, employer provision and contribution to pensions will switch from ‘nice-to–have’ to legal necessity for all organisations over the next few years,” commented Simon Griffiths, principal at Mercer. “At a time when pay rises, if they occur at all, are below the rate of inflation, employees are placing great value on the other benefits that their employers provide. We’re very pleased to be working with Sage and making the type of benefit that multinational employees enjoy as standard, available to the small business community.
Total Reward Statements will be offered alongside group personal pensions and give employees an online personal statement of their benefits package including salary, bonus, pension, medical insurance, health screening, life and critical illness insurance, car allowance and holiday.
The launch underlines Aviva’s strength in the workplace savings market. The technology is provided by Staffcare, an award-winning employee benefits software company that licenses its technology to many of the UK’s leading employee benefit consultants and corporate advisers.
Paul Goodwin, head of pensions marketing at Aviva, said: “Aviva research shows that companies’ employees want to view and manage their benefits in one place. Aviva’s Total Reward Statement is ideal for employees because it enables them to understand and manage their workplace benefits. For example, people are more likely to save into a work pension if they can see how much it is worth and how much it grows each year.
“It’s also good news for employers because it helps with staff retention and can make it simpler to communicate the benefits offered by the whole staff benefits package. We expect the workplace savings market to grow fast over the next few years, and it’s one in which Aviva will play a leading role.”
Aviva is strengthening its position in the workplace savings market by launching Total Reward Statements – an online, personalised record that lets employees understand the value of benefits provided by their employer.
Total Reward Statements will be offered alongside group personal pensions. They will carry individual companies’ branding and give staff a personal statement of their benefits package including salary, bonus, pension, medical insurance, health screening, life and critical illness insurance, car allowance and holiday.
Information is presented in graphical format so that employees can see a consolidated reward statement and have access to more information including benefit descriptions, booklets, and application forms if required.
The technology is provided by Staffcare, an award-winning employee benefits softwarecompany that licenses its technology to many of the UK’s leading employee benefit consultants and corporate advisers.
Paul Goodwin, head of pensions marketing at Aviva, said:
“Aviva’s Total Reward Statement is ideal for employees because it enables them to better understand the value of their workplace benefits; the advantage for employers is that it improves staff engagement. An increasing number of employers are using Total Reward Statements and entering the workplace savings market. We expect that this will be a growing market over the next few years, and one in which Aviva will play a leading role.”
Phil Hollingdale, Staffcare’s founder and CEO, said:
“We are seeing an increasing demand for our software as companies seek to improve their return on the money they spend on staff benefits by raising employee awareness and appreciation through online total reward statements. Many companies recognise that they could do a better job of communicating benefits to employees and old methods of communication such as printed handbooks and face-to-face meetings do not meet the demands of today’s internet-savvy employees who are used to information on demand.
“Many leading employee benefit consultants and corporate advisers have already embraced our software. Aviva is the first product provider to license our software and we are excited to be working with them.”