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Case Study

8Technology Ltd

Background

How we improved 8Technology's benefits package for both the employer and employee.

Background

We are a technology-based business based in Exeter employing 35 staff. We have a small number of legacy employee benefits which were dealt with by a number of different advisers. We don’t have a dedicated HR person and benefits were handled by our Office Manager. We identified our issues and requirements as follows:

  • We were having trouble managing the Auto Enrolment procedures and co-ordinating activity between our payroll and pension provider. We wanted someone to carry out an audit for us and suggest ways of improving the administration.
  • Our current adviser was no longer offering services on our Private Medical scheme so we needed to appoint a new adviser to help us finalise the renewal.
  • We were having challenges attracting and retaining key employees and wanted to improve our benefits package to make us more competitive in this area.

A Review

WWe approached Benefiz to see if they could help support our objectives. They offered to carry out an independent review of our benefits, so they could assess the above as well as making sure we were legally complying with the rules. Their initial report identified a number of areas that needed to be addressed and provided a clear recommendation to improving our benefits for the future.

The first action we took was to set up a benefits platform so help communicate and administer our benefits.

The Benefits

We then sourced a number of new benefits such as shopping, bikes, payroll giving and a cash plan. Our existing Group Life scheme was upgraded to allow employees to purchase additional life cover without underwriting at minimal cost. For our Workplace pension scheme we improved our auto enrolment processes and re-launched salary sacrifice via the platform.

We have been very pleased with the advice and ongoing service we have received from the Benefiz team." Martin Hill, Managing Director

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