What is Flexi Benefits ?
The Flexi Benefits Module is a way for Employers to provide additional benefits to their employees, aside from the necessary Expenses an employee can claim. Employees are allocated points, the amount of which are customisable by the admin, as a Benefit Entitlement for a set period of time (such as an year 2022 Entitlement)
Employees can choose from the available selections and claims that admins set up, such as Medical Coverage, Productivity tools, and wellness subscriptions, and spend points on the benefits & claims they value most. This is a module that centres around employee recruitment, engagement and retention.
What are Flexi Benefit Policies?
Flexi Benefits Claim Policies are not tied to any Entitlements. Policies are a different type of benefits that work similarly to Expense Claims. But while Expense claims are more for employees being able to be re-compensated for necessary expenses such as transport fees or meal allowances, Benefits Claims lean more towards additional benefits a company may provide to their employees, such as claims for purchase of productivity-related electronics, or health and well-being related subscriptions such as Gym memberships or mindfulness courses. These Claims can be limited by amount, as well as number of times claimable per cycle.
How to set Up Flexi Benefits Policies
4. Fill in the required fields. For specific details, refer to the paragraphs below.
Confirm by clicking Confirm.
Click Flexi Benefits > Selection.
On the right of the policy, under Status, slide ON.
Confirm by clicking OK to activate the policy. This will allow employees to view choose this selection
What to fill in
Section 1: Policy Information
Enter Policy name for internal purposes. For example, Gym Membership Subscription for Confirmed employees
- Tick the display name box and enter a display name. This is what your employees will see. For example, Gym Membership Subscription .
Fill in a Description for Admins Reference (employees will not see this description)
Check off the boxes if you
Require Employees to include an attachment when submitting this Flexi-Benefits Claim
Require Employees to include a Description when submitting this Flexi-Benefits Claim
Section 2: Eligibility
Select Yes, if all employees are eligible to submit a leave request on this policy.
Select No, and choose the relevant criteria for the group of employees that are allowed to submit a leave request for this policy . For example, you only want contract employees to be able to submit a request for this policy; select contract type and uncheck the permanent box. This allows only employees tagged as Contract to view this leave policy in their app and apply for this leave request.
Section 3: Tax Setting
- Select if this Flexi- Benefits claim is taxable or non-taxable. This information will be displayed on the Flexi-Benefit Policy, so that employees are aware that this claim is taxable or not, and for admins to refer to and calculate the reimbursement accordingly. It does not provide any kind of automatic calculation.
Section 4: Policy Limit Settings
- If this Claim can only be made up to a certain amount, select Yes and key in the maximum amount that can be claimed for this policy.
Section 5: Limit Time Settings
- If this Policy can be claimed up to a certain number of times per cycle, select yes, and key in the maximum number of times this policy can be claimed per cycle. The cycle refers to the current Entitlement Cycle which is running. For example, Entitlement 2022.