insights

The present of flexible remuneration in companies

Processes and Hyper-automation

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In a globalized environment such as the current one, the search for initiatives aimed at making better use of resources and investments becomes a constant within the operations of companies.

This pressure has increased even more as a result of the inflation spiral that we are affecting and that seems to last longer than some experts expected at the end of 2021.

If all this were not enough, we find ourselves with the change in priorities that COVID has caused in society and that makes many employees rethink the balance between work and private life.

For all these reasons, managing to implement measures aimed at reconciling work, cushioning the possible loss of purchasing power of the employee as a result of inflation and increasing the attraction and retention of talent has become a priority at the business strategy level.

This is where the concept of flexible remuneration re-emerges strongly, after a period in which it lost some of its prominence as a result of a lower demand for the services it offered due to confinement.

Flexible remuneration is a system through which the company provides the employee with the possibility of allocating a part of the salary to the contracting of certain products/services, thereby obtaining a more benefitial tax treatment than if they were contracted individually.

To these tax advantages, we must also add that the employee can access products or services with a lower price than the market, as a result of the company’s negotiation, for which the savings are even greater.

Currently, the products that can be included in a Flexible Remuneration Plan are very varied, including Medical Insurance, Restaurant Tickets, Nursery or Transport Tickets, Vehicle Rental, Life Insurance, etc.

Aware of this need, Oesía has had Optimiza for more than 10 years. Optimiza is the comprehensive solution for the implementation of Flexible Remuneration Plans (PRF) in companies, by giving full coverage to the process and freeing HR departments from the administrative burden associated with it.

With great characteristics, the Optimized Service is composed of:

  • A technological solution in the cloud, flexible, intuitive, visual and customizable, where employees can simulate and contract all the products offered in the PRF
  • Specialized work team, accessible and dedicated to customer service, product processing, advice and support, with extensive knowledge in compensation, taxation and legal issues that free up additional workloads for HR departments

 

And all of the above with the security provided by the adaptation of our solution to the National Security Scheme, guaranteeing the confidentiality of the data and the legal and fiscal support of Garrigues.

Pascual García, director Sector Industria, Servicios y Utilities sector