Lately the human resource department have been designing policies which are increasingly leaning towards flexibility in pay structures which is also known as flexi-basket benefits. Flexible pay or Flexible pay benefits is a way of structuring the salary of an employee. Under this, the employee is given the option to pick and choose the salary heads that can be provided under the salary structure. It is a way of empowering the employee as the employee decides the components he would like to be listed and the ones that are applicable under his salary head. This gives the employees to choose amongst the various cash and non-cash benefits which are subjected to the overall eligibility rules quoted in the policy. It would be very difficult to keep making different pay structures for different locations, grades etc.
Beehive assists you in automating this entire process. Where in the employees can opt for all of these benefits online whilst maintaining adherence to the HR policy. Since ours is a web based software, the employees can easily access their salary structure details from any location at any given point of time. The employees can access all of this in the employee self-service portal of Beehive.