Top 100 law firm TLT is introducing a new flexible benefits scheme in a bid to continue attracting and retaining the best talent in the increasingly competitive national and regional recruitment market. TLT will be one of only ten of the Top 100 UK law firms offering a full flexible benefits plan (source: Vebnet). The launch of the scheme demonstrates the firm's innovativeness as full flexible benefits plans are typically offered by only the very largest of law firms.
The scheme, which launches on 1st October, will give TLT's UK-based staff the opportunity to design their benefits package to meet their own personal lifestyle needs. Staff will be able to 'purchase' additional new benefits and enhance their existing benefits, while benefitting from tax and National Insurance contribution savings. The scheme will also allow staff to 'sell' some of their existing benefits to increase the monetary element of the remuneration package. Staff will be able to review and adjust their benefits package and see its impact through an online 'reward statement'.
TLT staff will be able to choose from a range of benefits including dental insurance, retail vouchers, health screening, private medical insurance, critical illness insurance, life assurance, childcare vouchers, travel insurance and bicycle leasing amongst others. Staff will also have the opportunity to buy and sell annual leave and to enhance some of their benefits to cover their partner and family.
TLT is also offering 'TLTShop', a way of shopping online that gives staff access to corporate discounts at thousands of retailers including well-known high street retailers.
The scheme is being launched following a series of focus groups and a web-based survey of staff across the business which found that 90% of respondents wanted flexibility, choice and responsibility over their benefits package and that over 66% were interested in 'buying' new benefits.
TLT's HR Director, Graham de Guise, says "TLT already has a strong track record of recruitment and retention and this latest offering will further enhance our competitiveness as we become an increasingly national player in our chosen markets. This initiative supports our ambition to be an employer of choice and will help us win the war for talent."
Described by industry commentators as 'the firm to watch', TLT is one of the UK's fastest growing law firms employing approximately 650 staff across its Bristol, London and Piraeus offices. The firm has been recognised in The Sunday Times' Best Companies To Work For report.
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