Mercer Marsh Benefits has today launched the new-look Elect website for SMEs which offers a wide range of enhanced benefit solutions. The goal of the Elect offering, exclusively designed for small businesses, is to give companies access to competitive terms, expert insight and leading benefits while reducing complexities in process and administration.
As many companies are unable to afford generous pay rises in the tough economic climate, talented employees are increasingly looking towards other rewards and incentives to mark out ‘employers of choice’. Employee benefits will be a vital asset for small-to-medium sized enterprises (SMEs) in the coming months, helping small organisations to attract and retain talent in a skills-short market. The Mercer Marsh Benefits™ family has an established history of providing SMEs with tailored employee benefits.
Donna Biggs, Principal in Mercer Marsh Benefits, commented: “SMEs employ the majority of UK workers. However, cost constraint has meant that historically they have fallen behind larger firms when attempting to provide a balanced package of employee benefits. The Elect service offers access to the sorts of competitive rates and benefits that were once only available to larger organisations.”
Elect by Mercer Marsh Benefits works with specially selected insurers to give small business owners the opportunity to provide unique benefit packages that include pensions, healthcare, income protection, travel and group life cover amongst others, allowing employers to tailor their benefit packages to cater to different employee needs.
“Offering benefits that fit the needs of employees can have a great impact” said Richard Wilson, Partner and Global Leader of SME Client Solutions. “We know that SMEs understand the importance of providing a competitive benefits package. However, many SMEs still have concerns regarding the perceived costs and administrative burdens of providing a full and balanced benefits package, and this is where Elect can really help.”
Users of the Elect service benefit from access to the Mercer Marsh Benefits team of specialist advisers who provide expert advice and insight into the latest market and regulatory developments.
Mr Wilson said: “With auto-enrolment just around the corner, and SMEs having to think quite carefully about their pension arrangements, employers should also consider what other benefits they can offer. Not only can this administer cost efficiencies but it can also serve to engage staff. And with 36% of employees citing that benefits play a significant role in whether to remain at their current employer, according to Mercer’s What’s Working research, it makes sense for all organisations, regardless of size, to seriously consider their employee benefits package.”
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