However, the need for employers to ensure that they are supporting their staff wherever they work has not changed. Now is the perfect opportunity for employers to review how they continue to support home working, and the benefits they have in place.
A new and innovative option for employers is to introduce interest-free home workspace loans into staff benefit packages, enabling employees to create an appropriate working environment at home. Find out more below.
A home workspace loan is an interest-free benefit that employees can opt into as part of their benefits package, providing them with the funds they need to set up a home office of their choosing – from larger loans to cover bigger expenses such as the construction of a garden office or convert a garage, to smaller loans to purchase items such as office furniture.
This innovative staff benefit has multiple benefits for both your organisation and your employees.
For employers who are looking to continue full- or part-time remote working on a more permanent basis, it is a low-cost option to help make employees feel supported in both their mental health and financial wellbeing. It ensures that employees have a safe and healthy space in their working environment, and helps to set clear boundaries between home and work-life balance.
For employees, this has clear knock-on benefits. A home workspace loan presents the opportunity to invest in creating a more permanent working setup that suits them, helping to boost morale and promote wellbeing. The loans are interest-free and repayments are made through salary deductions, meaning it is a simple, effective and low-cost option for employees.
Our team of experts work with you to assess the suitability of introducing a home workspace loan benefit into your organisation. Get in touch with a member of our team using the button below or contact Eddie Flanagan to find out more.
For a fixed fee, our team of consumer credit experts work with you to set up a home workspace loan benefit for your employees quickly and efficiently, including:
Carrying out a no-obligation assessment of the suitability of implementing home working space loans for your organisation.
Working with you at every step of implementation and delivery, from loan documentation and FCA regulation requirements, to compliance agreements and communications with employees.
Offering expert advice on putting strict provisions in place when offering employee loans, helping you to navigate the potential complexities with ease. Above all, we help you to focus on what’s important: your employees.
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