Why hire an employee benefits consultant?

An employee benefits consultant may be hired on a permanent or temporary basis by a company looking to implement or improve a benefits scheme.

Employee benefits are the perks a staff member receives on top of their basic pay, and can include bonuses, pensions, life or health insurance, or day-to-day advantages such as gym membership, childcare or transport.

Benefits such as these are of course a vital part of an employer's toolkit for motivating and retaining key staff, and can furthermore help attract fresh talent to a position when appearing on a job advert. Furthermore, they can be tax efficient to both the employer and employee, if chosen and managed correctly.

Employee benefits challenges

An employee benefits consultant may therefore be vital in addressing the challenges employers or HR departments face in this area, such as:

• Ascertaining which combination of benefits to provide, and launching the new scheme or package
• Implementing the necessary software or online system, and educating HR staff in its correct use
• Assessing tax efficiency and reducing costs by negotiating with providers
• Creating global benefits schemes for employees relocating abroad

What makes a good candidate?

A consultant will typically have extensive and varied experience, often across multiple business models and industries. They will therefore be well placed to advise on salary benchmarking and what makes an attractive benefits package.

Furthermore they will be adept at using all kinds of benefits software and systems, be able to demonstrate full knowledge of cost and tax efficiency, and be up-to-date with the latest legislation. Due to the nature of consultancy roles, they will also need superb communication skills in order to understand your workforce and integrate with your HR team.

For more advice on hiring an employee benefits consultant or filling other temporary jobs in compensation, benefits and reward, contact the specialist team at Portfolio CBR on 020 7650 3190.