Standard Life has launched a benefits package for UK-based small and medium enterprises (SMEs).
Its Box of Benefits (Bob) product offers a wide range of benefits including pension, bicycle scheme, dental insurance, hospital cash plan, private medical insurance, travel insurance, childcare vouchers, voluntary benefits, total reward statement and a self-service area.
The new proposition has been built using technology from Vebnet. It is based on insight from employers looking for a single online portal that helps with the administration of the benefits and reporting requirements.
Gerry O'Neill, managing director of corporate solutions at Standard Life, said: "Most employers now realise the value of a good benefits package. But for some there is still the concern that it is going to be too costly, or that the administration will take up too much time.
"Bob offers a range of benefits which can be selected depending on employee needs and demonstrates to staff there is much more to consider than just salary. A good benefits package can help employers recruit and retain the best employees. It can help engage staff while saving them money.”
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