A flexible benefits plan refers to a plan that involves a structured way of combining different components of CTC. It covers various units, such as conveyance facilities and medical facilities. Flexible benefits are essential for ensuring an employee gets equal and fair opportunities. An employee should be given equal opportunities from their share of the package. The “flexible” is the highlight of the benefit plan. It means that a Plan is not fixed & it can fluctuate between the Packages. The flexible benefits are pretty advantageous for the employees in ensuring superior safety.
Characteristics of flexible benefits in a corporate organization
The flexible benefits help an employee feel more superior and valued in the Organization. The benefits are almost rolled out in every sector. Large organizations are evolving, & they are covering their expenses with the CTC amount. The plan depends on various features, but a significant factor is the Employee’s current position in the organization. There are several components available that are associated with a flexible benefits plan. The resources include:
- Beverage and food cost-
The organization’s tax department considers meals as part of the services being offered by the Company. It is an excellent benefit for the employees. Some companies offer coupon codes on food items.
- Conveyance charges:
Many companies provide conveyance facilities for their employees’ safe arrival and departure. It is considered a good factor compared to the safety of an employee. Conveyance plays a vital role in the safety of an individual. There are lots of companies that are providing conveyance facilities to their employees.