How Employee Benefits Works
Employee benefit consulting is concerned with providing a benefits package that not only keeps your employees happy, but also limits the impact on your bottom line. Where our service differs from other consultants is that we are there for the long-term; ensuring the benefits you provide stay relevant and cost effective.
Our employee benefits service covers four main areas:
- Employer pension schemes - providing services whether you are looking to set up a new scheme or help managing an existing scheme
- Employer risk and health insurance – advising on the most cost effective way of providing your employees with financial protection for their families.
- Flexible benefits – providing assistance developing a range of benefits for your employees to select from.
Many businesses come to us with a specific need in mind, whereas others just want to find out where to start. Regardless of what you want from Torquil Clark, our general approach remains the same.
We start by getting to know your business and what you ultimately require us to do for you. This allows us to be more specific about the solutions we provide for you. We do this by conducting an exploratory meeting – at our expense.
After gathering information about your company’s need and history of previous benefits, we are then able to present our ideas to you, and if you are happy to proceed with Torquil Clark, we will begin to implement our service. This can be as varied as introducing a new benefit, such as a pension scheme, where we undertake the administration and ensure all of the member details are correct and the scheme is set up correctly, to providing one-off consultancy on a particular area, for instance, investment advice within a defined benefit pension scheme.
A big part of our service is communicating directly with your employees to ensure they are fully aware of the benefits they are being provided.This aspect of our service is particularly valuable as it takes away the need for you, as the employer, to do it yourself.
Depending on the type of relationship you want from Torquil Clark, we can be on hand to provide long-term support to you. This can vary, particularly as each company has specific requirements, however, typical examples include a Torquil Clark consultant sitting on your pension schemes’ board of trustees or by us providing annual support as specific details within schemes change, due to legislation or employee matters, such as wage increases and staff turnover.