Work models have evolved in recent years and, with them, the demands of workers, who are increasingly focused on flexibility. In this way, options such as teleworking, flexible working hours, intensive working hours or flexible compensation plans are becoming more frequent. And it is that we have evolved towards a model in which the employee will always be at the center.
For this reason, many of the organizations have been forced to completely redesign their compensation plans bet on flexibility with the objective of attract and retain talent on their teams.
Steps to create your plan
These types of projects are developed as follows. In the first place, it is the company itself that, based on its economic possibilities and its culture, decides what benefits to include in your flexible compensation plan. Subsequently, he presents the plan to the squad. Finally, it is the employees themselves who freely decide what decision to make. They are the ones who choose whether they want to take advantage of this plan or not and what tax benefits they want to access based on their personal circumstances. In other words, they can continue to receive their salary in the classic way or change the à la carte model, taking advantage of the benefits offered by flexible compensation plans.
Identify and define the objectives for your company
At this first point it is necessary know what objectives the company has with its workers: improve employee satisfaction, maintain or increase the workforce, promote work-life balance… All of them have a positive impact on the organization even though they are employee-oriented.
Define the offer for each group of employees
Knowing the worker well is essential at this point, because it is necessary consider what type of offer best suits your interests. In this regard, not everything concerns only the job itself, but all those elements on which its performance revolves, such as rest hours within the company, how it travels to the offices, if external factors affect it the organization and the company can help solve the problem, if you have children…
To obtain this information, the best alternatives are surveys and focus groups.
Design a communication plan
It is essential that employees are clear at all times about what is being offered to them and why. This plan should have three legs:
- Value the company’s offer. It must be shown that the concern for employees is real. In many organizations there is the perception that only the business or productive benefit is sought, and not the fulfillment and job growth of the workers. By communicating the company’s offer, it is conveyed that the employees really are an essential part of the company.
- Explain the benefit to the employee. When employees have understood that the company shows genuine concern for them, the next step is Let them know what the plan offers. At this point, all the characteristics of a flexible compensation plan will be shown, what benefits it has for employees and when and how they can contract it.
- Improve adhesion to increase impact. If both the offer and the benefits have been correctly explained to employees, joining the flexible compensation plan should be a success. This is the ultimate goal of any communication plan: create expectations and get as many people as possible to join.
open the plan
The plan should never be a rigid document. It must be opened so that workers can join it. Knowing all its characteristics, the employees will decide which solutions best suit their needs.
Receive the adhesions and make sure that the salary novation contract is signed
To finish, it will only be necessary receive the endorsements and verify that the employees have signed the salary renewal contractan annex to the employment contract in which all the changes that occur on the employee’s remuneration are included when exchanging monetary wages for wages in kind.
