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What are employee benefits? 

Employee benefits offer a way to attract and keep employees while contributing to their wellbeing, encouraging improvement in performance, and rewarding someone just because. There are different types of benefits, Mandatory & Voluntary, mandatory benefits were introduced by law and employers are required to give its workforce, voluntary benefits are rewards or schemes an employer can choose to give to employees.



Mandatory benefits

After the second world war, what is referred to as “The Welfare State” was created to provide employees with rights to sick pay, pensions, and the NHS, these are the mandatory benefits in the UK. You are entitled to at least the national minimum wage for your age, a statutory minimum level of holiday, protection against unlawful discrimination, whistleblowing and ensure part time workers are not treated any different than full time employees. Nowadays workers can expect to be enrolled into a workplace pension scheme if they fall under this set of criteria set out by the government:
1) You’re classed as a ‘worker’
2) You’re aged between 22 and State Pension age
3) You earn at least £10,000 per year
4) You usually (‘ordinarily’) work in the UK

A lot of job adverts will list these as benefits to an applicant joining their company, when they legally must provide these.


Voluntary benefits

Voluntary employee benefits are things employers and businesses can choose to give to their employees. This could be free parking at the office, flexitime to choose their own working hours, casual dress rules or access to a benefits platform, like Niftiee. Here at Niftiee we are classed as a trivial employee benefit provider, meaning you can provide access to Niftiee without having to pay tax or national insurance. 

To be considered a Trivial benefit it must 

1) Cost £50 or less, per employee
2) Not be cash, or a cash voucher
3) Not be given as a reward for work or performance
4) Not to be written into the terms of an employee’s contract

Niftiee provides access to discounts and vouchers for things like the gym, days out, clothes shopping and even the local supermarket! Employers can add money to their workers account so the employee can choose where they want to spend or choose a gift card for them. As Niftiee starts from £7.99 (+VAT) per employee per month it’s well within that £50 budget, meaning you have extra cash too.

Alongside a great discount and voucher platform Niftiee offers extras to be added onto their employee benefits platform, such as an EAP (Employee Assistance Program). An EAP allows employers to give additional support to their workforce in dealing with personal problems or struggles. These could be things like mental health support, medical/dental plans, access to therapy sessions and more, a truly great benefit!

A combination of mandatory benefits and voluntary benefits are what appeals to potential job applicants as well as to existing employees. 

Whether you offer your employees extra holidays, discounts on gym memberships or a platform like Niftiee, when you reward your employees, they reward you back, now that’s Niftiee.

Sign up to Niftiee with no minimum membership requirements from £7.99 (+VAT) per employee per month and start rewarding your staff. Build the perfect employee benefits platform by getting in touch with our friendly team and see how Niftiee can work for your business.