Employee benefits consultancy Mercer and business software and services provider Sage UK have partnered to launch Sage Employee Benefits, a service designed to make it easier and more affordable for small and medium-sized enterprises (SMEs) to introduce employee benefits packages.
Sage Employee Benefits is designed to provide cover for organisations with less than 100 employees.
It will be provided via the Mercer-elect scheme, which includes private medical insurance (PMI) schemes, life insurance, income protection, pension schemes, travel insurance, and dental insurance.
Employers that use the service will also have access to Mercer’s teams of advisers for guidance and insight on the latest legislation and market developments.
Matthew Forrest, head of services, small business division at Sage UK: “While most employers understand the significance of offering a benefits package, SMEs still have concerns regarding costs and the time required for administration.
“Designed with small business owners in mind from day one, it makes bespoke benefit packages simple to roll out and easy to manage at an affordable price.”
Simon Griffiths, principal at Mercer, added: “To think that employee benefits packages are the exclusive preserve of big business is simply wrong.
“When the changes brought about by the Pensions Act 2008 start to come into effect from next year, employer provision and contribution to pensions will switch from nice-to–have to legal necessity for all organisations over the next few years.
“At a time when pay rises, if they occur at all, are below the rate of inflation, employees are placing great value on the other benefits that their employers provide.
“We are very pleased to be working with Sage and making the type of benefit that multinational employees enjoy as standard, available to the small business community.”
Read more articles on pension schemes and group risk benefits