Why implement a cafeteria plan?
Benefits for employers:
- No additional costs: No financial impact on your business
- More competitive compensation: Enhance the attractiveness of your salary package
- Increased employee engagement: Your employees are more motivated
Benefits for employees:
- Freedom of choice: They select extra-legal benefits tailored to their personal situation
- Flexibility: They can adjust their choices each year
- Increased Net Purchasing Power: Employees enjoy greater financial flexibility through smart selections
What is a cafeteria plan?
A cafeteria plan provides your employees with a budget to choose from a range of extra-legal benefits. This approach allows them to customize their options according to their needs and adjust them annually based on changes in their lives.
As an employer, you maintain control:
- Budget and Funding: You determine the budget and how it is financed
- Select of options: You choose the available benefits for your employees
How to define the budget?
Our experts will propose a budget tailored to your company, market trends, and legal requirements. Employees can exchange part of their gross salary for benefits such as a year-end bonus. You can also allocate additional budget on top of the current salary package. The possibilities are numerous and can be creatively combined.
Cafeteria plan: options
Employees will spend their budget on a variety of extra-legal benefits. As an employer, you define the available options. These can be categorized into four main areas:
- 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
You are not required to give employees a choice; they can also receive this amount as cash. However, this option is less advantageous as it is not tax-deductible.
Cafeteria plan and sustainable mobility
The cafeteria plan can also contribute to more sustainable mobility within your company. You can offer options such as bicycle leasing or eco-friendly company cars. This is an excellent way to promote alternative transportation solutions.
Securex and Payflip: a winning duo for your cafeteria plan
By partnering with Payflip, a specialist in flexible compensation, Securex provides you with an innovative solution for managing your cafeteria plan. This collaboration offers you an intuitive platform that seamlessly integrates with your existing payroll administration. Together, we share the same vision for employee compensation in Belgium by 2025: flexible, digital, and tailored to each individual.
