Recruiters move to online and flexible benefit platforms

More companies are applying technology to communicate benefits via an online portal and to administer salary sacrifice and broader flexible benefit arrangements, according to a new report.

The data, published by Mercer, finds that a growing number of companies are planning to introduce "technology platforms" to automate their pension and other salary sacrifice arrangements, while enhancing the communication and flexibility of their benefit programmes.

According to the survey, more than a third of participants said they were planning to introduce technology over the next 12 months, as well as bringing in new salary sacrifice arrangements or streamline existing ones to provide greater benefit choice and improved communication.

Stephen Hempenstall, a principal and consultant at Mercer, commented: "Online benefit platforms can be introduced at much lower cost than in the past and are now affordable to many medium-sized companies. Savings made from salary sacrifice arrangements will often pay for the new benefit technology."

It comes after accountancy body ICAEW and accountants Grant Thornton compiled a study for the second quarter of 2010 which showed that companies are expecting to employ a greater number of workers in the coming months.

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Posted by Nikki Barrister

Filed: 03-09-2010