06 Apr What are your employee benefits?

Do you know the total value of your employee package? Most of us tend to focus on salary, annual leave, sickness entitlements, and perhaps pensions. However, there is generally more than these elements.  

Selwyn’s surprise

Take Selwyn, for example. His salary is £45,000 per year. Selwyn receives an email from the pay and benefits team informing him that he can access his employee benefit statement by logging onto the pay system.  

Selwyn is intrigued and logs into the portal. He is surprised to find out that his total benefits package, including his pension, is £75,000. Selwyn notes the death in service benefits – which is particularly important to him and his young family. Although Selwyn is planning to live a long life, he takes the time to fill out beneficiary forms for his wife and children in the event of his death. He also makes a note to speak to his financial advisor and update his will.

Selwyn reads on and finds he will be entitled to an additional four days of annual leave when he reaches his tenth year of service next month, which will come in handy during the school holidays. Selwyn sits back in his chair. He is pleased that he took the time to download his employee benefit statement. Very pleased indeed.

Cora’s concerns

Over the weekend, Cora and her husband received news that their daughter has been diagnosed with a critical illness requiring immediate hospital treatment. Cora’s head spins as she grapples with her daughter’s condition, the sudden changes to their lives and potentially finances due to extended time off work. Cora calls her manager and leaves a message informing her that her daughter is unwell and she needs to take annual leave.

Cora’s manager Claris returns her call on Monday morning. Cora tearfully explains the seriousness of her daughter’s condition. Claris is sorry to hear about Cora’s daughter. Claris advises Delia that she is willing to grant her the maximum entitlement of seven special leave days. In addition to this, Cora has three weeks of accrued annual leave. Beyond this, Claris confirms she would consider a flexible working application. Cora is surprised and relieved at the range of options available to her.  Cora agrees she will take seven days and check in with Clara on the sixth day.

Cora’s husband, Brent, is entitled to ten days – they agree to spend the next five days focusing on their daughter and then consider further leave requirements and flexible working options.

Both of these scenarios are reminders that it pays to check your complete employee benefits package.

By Dawn H Jones, HR Specialist

Please note that this post does not constitute specific HR or employment law, or pay and benefits advice. If you require help, please contact an appropriately qualified professional or drop me an email info@hopeplace.co.uk