Business Advice

Guidance on helping your staff and their families.

Staff or Employee Benefits are seen as a reflection of how much you, as an employer, care. A compelling package helps to recruit new staff and retain the existing team.

As your advisor, our role is to tailor the best and most appropriate benefits package for your business. In return you’ll feel confident that what you offer is competitive, cost effective and tax-efficient.

To answer any financial questions your staff have, whether they are to do with pensions, mortgages or managing the cost of living, we run financial surgeries.

Learn more
Business Advice

Benefits Packages

Typically, a business benefits package will consist of:

Director’s Pensions

Extracting business profits are one of the most tax-efficient ways for business owners and company directors to save for retirement. They include Self-Invested Personal Pensions (SIPPs), Small Self-Administered Schemes (SSASs) and Personal Pensions.

Employee Pensions

An auto-enrolment qualifying pension that is appropriate for your staff. As an employer you have a legal obligation to provide this.

Death-in-Service Cover

The provision of a lump sum to your employee’s families in the event of their death.

Private Medical Insurance (PMI)

Private medical treatment for your employees if they fall ill. Help for them to recover and return to work without having to wait for treatment on the NHS.

Income Protection Cover

The provision of a replacement income if an employee is unable to work due to long-term illness or injury.

Depending on the needs of your business, there are other products you may wish to consider.

Key Person Insurance

To protect your business against the financial impact of the death or critical illness of a key employee.

Shareholder Protection

To provide business protection in the event of the death of a shareholder who has left their shares to family members.

Business Loan Protection

To provide a lump sum to help pay off any outstanding loans your business has.

Relevant Life Protection

The payment of a tax-free lump sum on the death of an employee or the diagnosis of a terminal illness.

Scenario:

The right benefits package

You’re the director of an exciting BioTec business in Birmingham. You’ve just completed a successful Series B fundraise and are in the process of recruiting new talent. You know of other businesses in a similar position and so you want to make sure that your benefits package is more appealing than anyone else’s.
Scenario:

Retaining Staff

You’ve been in business for over 15 years and have a good relationship with your staff. However, over the past 6 months a few of your middle managers have left citing that other businesses in the Cambridge area offer better benefits. You now realise that your benefits package needs a thorough overhaul or you risk losing more good people.

Financial Surgeries

At some stage all employees have questions about money or finance. The difficulty is that they don’t always know who to ask.

Our financial surgeries offer them an independent listening ear. They are a confidential meeting where colleagues can discuss whatever they like – pensions, mortgages or investments, how to save for the future, or how to manage a financial concern.

For younger staff this is an invaluable first-step in helping them to become financially literate. For others it points them in the right direction for saving for the future or finding a mortgage. As an employer, it demonstrates your commitment to the financial wellbeing of your staff.

 

Working with you

As with all our services, we can only advise you once we have met personally. To recommend the most appropriate provider, insurer or policy we need to get to know you as a director of the business and to understand your business aims and priorities.

Once we’ve gathered the necessary facts our recommendation will take into account:

  • Suitability to the business and your staff
  • Service standards & Charges
  • Flexibility & Support
  • Online access
  • Underwriting policy
  • Financial status & reliability

If you ever need to claim on a policy we’re here to help you manage the claims process and provide support.

Our Steps & Fees

Request a call

To learn more about our approach towards Business Advice, complete the form and an advisor will call you.

Alternatively, call or send us an email.

Call us: 01223 792196

Email us: info@martin-redmanpartners.co.uk

“In two simple steps Julian understood, explained, explained again and gave me the direction and actions I had been putting off for a long time. He clearly has a wealth of knowledge and experience to be able to recommend and guide you so easily. He is calming and reassuring and generally lovely all round.”

Claire 50s

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