Governance
Governance is about steering your pension scheme to achieve the right results for you and your employees.
If your company get its right, then this creates a strong framework through which you can more easily manage the pension scheme and any wider employee benefits.
You wouldn’t drive your car without a valid MOT so why allow one of your biggest outgoings to leave your business without making sure it’s destination was fit for purpose?
The world of pensions have seen unprecedented change over the last decade. From the abolition of the default retirement age that has an impact on your succession planning to more recent introductions such as Auto Enrolment and Pensions Freedom.
All have an impact on your business and directly on your biggest asset, your employees.
Good governance isn't a tick box exercise; it’s simply good business practice.
The Regulator and Government are taking great steps to encourage the population to save for their retirement. Greater responsibility is being passed on to employers and in turn regulatory guidance is being introduced and updated regularly. This additional responsibly adds a significant burden to employers in an area not always in their expertise. Providing appropriate benefits, assessing its suitability, creating processes and an audit trail adds to an already long lists of demands placed on your business.
Governance provides the tools to make effective decisions from an HR to Board level, we will assist in providing the collateral to present and help aid the answers that are required and will also highlight areas of concern that require remedial action in order to avoid potential negative outcomes.
1. Analyses of Employee Benefits spend to ensure it is achieving your objectives and providing value for money.
2. Assistance and collateral on decision making – From HR to the Board, we can provide the tools you need to get decisions made quickly and effectively.
3. Transparent management of risk and clear accountability
4. Management information provided within this process allows you to see if an area is not performing and make sure remedy is applied.
5. Employee engagement allows a business to make long term savings in employment costs as staff retention is higher.