Is-your-Human-Resource-Department-costing-you-hundreds-of-thousands-of-pounds-more-for-no-reason?

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As most employers in this country are now aware, childcare vouchers offer a simple and effective way for your staff to save money on the cost of their childcare. But what many companies still do not appreciate is the scale of the potential savings the scheme offers employers too. Your business could be missing out on savings of thousands of pounds each year and the unwitting cause of this loss could well be your own human resources team.

The Human Resources Role

Let’s get one thing straight, this is not about having a go at HR. They are invariably hard-working professionals who make a vital contribution to the success of most companies, large and small. However, when you hand responsibility for the voucher scheme to your human resources staff, they tend to treat it as just another employee benefit and just another administrative function. But, if your company is to maximise all the savings the scheme has to offer, it needs to be marketed to your staff in a proactive way and on a regular basis. Unfortunately, this marketing role does not come naturally to the average HR person.

Childcare Vouchers

The voucher scheme can save the average working parent more than a thousand pounds each year in tax and NI relief. But a recent Office for National Statistics (ONS) survey concluded that at least twenty per cent of parents who do not return to work after the birth of a child make that decision because of the cost of child care. Think what a difference a saving of a thousand pounds a year might make to people in that situation.