The impact of flexible benefit systems on the attraction and retention of talent

In the current turbulent business environment, firms are looking for more competitive, innovative and creative organizational and remuneration systems. This study is focused on highly personalized and adjustable indirect remuneration systems; that is, Flexible Benefit Plans. These systems are characterized by a high degree of flexibility and are designed to improve employees' pay efficiency. These systems allow employees to participate in designing their remuneration packages and, through proper fiscal planning, maximize their net pay without increasing the human resources expenses of firms. This research, based on 328 human resource managers from firms located in Spain, analyzes the effect of the adoption of these systems on firms' ability to attract and retain staff.