Flexible reward plans, often referred to as cafeteria plans, are a hot topic when it comes to designing a modern and competitive compensation structure. By implementing a flexible reward plan, employers may offer their employees the possibility to shape a compensation and benefits package that suits their individual needs.
Companies are becoming more flexible in compiling their total remuneration package in order to meet the challenge of finding and retaining good staff members and to adapt benefits to the individual and specific needs of their employees. This flexibility can be given by implementing a flexible reward plan. Yet, many employers struggle with the administrative impact and the Belgian legal context of such a plan. When implementing the plan, all individual, corporate and indirect tax implications as well as the social security and employment law aspects should be considered in order to assess the feasibility and cost of the plan for the employer and the employees
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