Who can use a Salary Sacrifice Nursery Fee Scheme?
Any company paying UK staff can offer our Salary Sacrifice Nursery Fee Scheme
Any company of any size can benefit from a Salary Sacrifice Nursery Fee Scheme. We have worked with companies that have single members of staff with nursery fees, such as self-employed doctors, as well as large organisations with thousands of staff.
It is important to know that any company with UK tax-paying staff can make use of our scheme. We do not charge to set the scheme up, so an employer can have our scheme in place free of charge, even if they do not have any staff who need the scheme yet. This helps signal to existing staff that, should they want to have children, nursery fees will be more affordable and they will have a greater chance of being able to afford returning to work.
Time to Feel The Benefit
For employees, childcare costs can be higher than their mortgage or rent payments, so having an employer supported salary sacrifice scheme like ours can make an enormous difference to the finances of staff with nursery costs reducing them by up to 50%. Even high paid staff earning six figures can see their take home pay reduce to under £30k after nursery fees and tax, and by offering our scheme, you can make that take home pay look 30% or more better with a typical take home pay going from £30k to £40k with our scheme, depending on the nursery fees.
A dozen ways in which everyone loses out!
For staff who do not return to work because of nursery costs, they are missing out in numerous ways, such as:
- Pension contributions reduce or stop.
- No opportunity to enhance their career opportunities.
- Missing out on exposure to promotions.
- Not being part of the office culture.
- Missing out on the visibility of being part of a team that delivers results.
As an employer, you can miss out because:
- You have lost experience within the business.
- You have lost expertise that can be shared with other staff.
- Connections between your staff and your customers are reduced.
- You need to train new talent to fill a gap within the business.
- You may need to pay for recruitment.
- You have the opportunity cost that is a net loss when experienced members of your team have to train up new members of the team to fill the gaps left by an experienced member of staff not being present in the business.
- Your employee may join a different employer that allows them to save on childcare and make work more affordable.
So there are a dozen good reasons why offering our scheme will make a positive impact on your business, and on the lives of your staff.
If you want to know more about how the scheme can work, you can book a quick chat with one of our team right here: book a quick chat and find out exactly how your company can Feel The Benefit and start saving from next month!
Register here
Enter your work email and we will send you a verification link.
Got a Question?
Call us on 0800 888 6629 or
email info@feelthebenefit.co.uk