Yes! And really, pension plans should be in the top three employee benefits, after “a salary” and proper medical insurance (i.e. NOT travel insurance, it is not the same thing). And it doesn’t take a genius to work out that if you proactively look after the long-term interests of your staff, your staff will be even more inclined to proactively look after the long-term needs of your business and its customers - you’ll have a much higher staff retention rate (or a lower staff turnover rate, depending on your perspective, they’re the same thing) on average which in most cases will reduce your recruitment expenses, reduce your training costs, and reduce the disruption to your business operations inevitably caused by changing employees in key positions.
Our suggestion for the best process to follow is this:
Step 1: Talk to us, find out and understand what your options are
Step 2: Discuss with your company board or corporate advisors
Step 3: Talk to your employees, listen to them, get feedback and preferences
Step 4: Talk to us again, map out a specific plan to implement and be 100% sure how it works
Step 5: Discuss the specific plan with your company board or corporate advisors again for approval
Step 6: Talk to us again to implement and set up the specific plan
Step 7: Fully inform your employees of their pension plan(s) and make sure they understand everything
Step 8: Carry on growing your business with happier staff and no pension-related drama after setup!
At any stage of the process we are ready, willing and able to help, so just contact us and ask us anything!