As a company that have been serving businesses in the Financial advisory field for many years, one thing we understand is that it is all about the benefits that you receive by utilising our expertise and experience. Benefits should not be just spoken about or empty promises, they need to be transparent, tangible and constantly yielding results.
For this reason, our Employee Benefits division has devised a benefits package that we believe has transformed many of the businesses we serve from those who merely dip their toes in the water to those who ultimately ride the crest of the wave of investment opportunities. Here then, in summary, are our 8 steps to a better Employee Benefits package for your business…
- Member net replacement ratios – A member replacement ratio measures whether you will retire with enough money and provides your members with insights into their ability to fully replace their final salary upon retirement.
- Group risk services – Risk is an issue faced by every business and in many areas of operation. We assess independent risk provider relationships with all your major service providers and execute annual risk costing reviews as well as service provider risk costing negotiations.Further to this, we provide objective guidance and advice on appropriate risk provider appointments aligned with your requirements in terms of costs, benefit structures and demographics.
- All costing analysis – A good example of this is in the case of medical funds. Costs levied against a retirement fund have the effect of reducing retirement pay-outs to members. Such costs are deducted from recurring contributions and/or investment returns. We analyse and advise on reducing such costs.
- Investment consulting – This is a critical area of service in terms of augmenting a business’ Employee Benefits. Investments need to be astutely chosen through experience and knowledge of current market trends. Our service in this area includes fund investment risk profile analysis, investment strategy recommendations and regularly reporting on fund returns and market trends to offer specific investment recommendations.
- Asset liability Consulting – provided through a team of experienced actuaries and financial analysts, this service arms both corporate and individual members with an effective investment strategy.
- Member financial management workshops – This encompasses issues like investment planning, retirement planning and general financial matters. We facilitate workshops that equip employees with the necessary tools to implement a holistic financial plan.
- Member 1-on-1 Financial planning – the long term welfare of your employees is important so we also provide individualised retirement fund advice and access to financial professionals able to assist them in setting and achieving long-term financial goals.
- Retirement fund services – This is a comprehensive service that encompasses guidance and advice on Independent administrator relationships with all major service providers and appropriate administrator appointments relative to costs, fund requirements and demographics.We also provide a private client-modelled employee benefits administration support service to ensure the appointed administrator adheres to signed administrator and service level agreements.
Consult the Employee Benefits specialists
As confident as we are that this is an effective package offering every type of business a comprehensive Employee Benefits structure, we at Hereford Group are renowned for our understanding that all businesses and their members are unique.
Why not contact us to arrange a no-obligation consultation to see if we can devise the best benefits package for your business, perfectly aligned with your specific requirements? Stay safe – stay positive – and stay invested in the future!