The cafeteria plan

Why set up your cafeteria plan with Securex?

What is a cafeteria plan?

A cafeteria plan lets you set a budget, with which your employees get to choose from a menu of benefits. It allows them to pick their own non-statutory benefits for a given period and to change them annually to suit their needs.

Setting up a budget

We suggest a budget for you in line with your company's needs, the latest trends in the market place and all the relevant legalities.

Your employees, for example, could sacrifice a portion of their gross salary for certain benefits (such as a year-end bonus or other bonus). Similarly, you could set aside an additional budget, above and beyond the salary package you currently offer. There are all kinds of options available, and they can even be combined.

Once the budget is set, you allocate it.

Allocating the budget

Your employees choose from a list of non-statutory benefits set by you in advance. These benefits break down into four clear categories:

• Cash/insurance: reimbursement of internet expenses, pension savings, hospital insurance
• Work-life balance: extra holidays, training courses, medicals
• Mobility: bicycle, car or mobility budget
• Hardware devices: smartphone, tablet or laptop

How to set up a cafeteria plan?

There are five stages to setting up a cafeteria plan:

	1. Exploratory meeting At the exploratory meeting you map out the basics of a flexible salary and, on the basis of this, an effective cafeteria plan. We discuss the possibilities and the various stages of the plan. We listen carefully to your reasons for going ahead and to what you expect from the project, and we give answers to all your questions.
	2. Preliminary study The aims at this stage are to identify the components needed to set up and allocate the budget and to produce a comprehensive report of the advantages this could imply for you. As part of the process we do a legal analysis and gather in the opinions of your employees.
	3. Implementation We help you offer an attractive package of non-statutory benefits for your employees, and we implement it in our tool. You get tailor-made advice at every step of the way: from starting up the project to communicating the details to your personnel.
	4. Choice of non-statutory benefits At this point your employees are allocated a budget, which they can spend on the cafeteria plan. They now choose from a range of benefits that were set by you in advance.
	5. Follow-up and support We use our intuitive management tool in every way possible to make this a pleasant experience for you. The tool also relieves your HR staff of much of the administrative work.

How do I manage my cafeteria plan?

The management tool can be used to keep an eye on your cafeteria plan. This is because your employees use the tool to choose their benefits.

It offers two huge advantages:

• It gives your employees details on the non-statutory benefits and alternative salary options (net salary, extra holidays, pension savings, etc.) available to them in their budget and helps them with their choices. As your employees' needs are likely to change from year to year, the cafeteria plan allows them to change benefits of all kinds on an annual basis.
• It reduces the administrative burden on your HR staff, and offers potential for reports, such as exporting the benefits chosen.