benefit strategies: standard benefits

In a standard benefit programme, both the range and level of benefits are determined by the employer.  Standard benefits are very inflexible.

Traditionally standard benefits have been the most common type of benefits scheme offered by employers, and packages have tended to include more conventional benefits such as pension, life assurance and private medical insurance.

Increasingly employers setting up a new standard benefits package, or reviewing their existing one are seeking more innovative benefits to compliment or replace more conventional choices.