n recent years, people management has witnessed a profound transformation in its practices and concepts, which was very emphasised after the beginning of the pandemic. Nuno Simões, who has been in the human resources area for 21 years, points out the differences between the way remuneration was seen in the past and the way it’s seen today. “We were looking at something very direct. The basic salary was the easiest way to pay people, and then the variable (premiums and some benefits). (...) Health insurance was a distinctive benefit (for the employee or for family members), whilst discounts on purchases were more direct”, points out the Human Capital Director of PwC Portugal, Cape Verde and Angola.
At a meeting organised by People 4 People, a human resources community that promotes the sharing of experiences, which included the participation of Nuno Simões, Human Capital Director of PwC Portugal, Cape Verde and Angola, and João Terrível, Project Manager at Coverflex, the growing importance of personalised flexible benefits management, tailored to the speed at which life elapses, was discussed.
Here is a summary of the topics covered during the conversation:
- If the benefits’ typology and practices were adequate to what was the sector of activity of each company, now we are looking more and more to who “our people” are and how they can play an increasingly active role in what their remuneration is.
- The benefits area was deeply associated with multinationals and large companies because maintaining this type of plan was complicated; now, there is a democratisation of the open-mindedness regarding these plans in companies of different sizes.
- Coverflex works to simplify the management for both the company and employees: the VISA card materialises people’s intention to make free and adequate choices for their current needs.
- We are witnessing a positive evolution, both in the implementation of plans and in their practical management.
- People are starting to wake up to the freedom of doing different things, without the need to plan far ahead.
- There is a growing tendency to look at compensation as a whole: even if the value of flexible benefits grows with career progression, it is worth defining different ways of remunerating people at each stage.
- Offering benefits must be on the company's side; its management must be on the side of each employee, who will do it individually.
- The importance of benefits increases with the growing concern around financial literacy.
- Benefits management increases the liquidity of your people's remuneration.
- Talent increasingly values other types of benefits/discounts and protocols: centralising these processes can benefit employers and people.
