mpique_logo

Flexible compensation

Flexible compensation, or emotional pay, is a concept associated with an employee’s compensation that includes non-financial issues, the purpose of which is to satisfy the personal, family and professional needs of the employee, improving his or her quality of life and promoting work-life balance. This type of compensation can act as a “motivating factor” for employees and thus improve their opinion of the company. Therefore, it is not a matter of receiving a greater amount of money, but of receiving benefits that the worker understands as more valuable benefits than a salary increase. The value of these benefits granted as salary in kind may not exceed 30% of the salary received by the employee, and must be appropriate to his or her situation.

The advantages for the company that includes emotional compensation in its compensation policies are as follows:

  • Low staff turnover rates.
  • Reduced costs related to personnel selection, training and administration.
  • Low levels of absenteeism.
  • Satisfied employees are employees with high productivity and competitiveness indexes.

Remuneration in kind represents an income for the employee and, therefore, must have a value that is reflected in the payroll. In addition, a payment on account must be applied, as a withholding, for the IRPF that is imputed to the worker and that the company must pay with the rest of the withholdings.

Common cases:

  • Health insurance: up to 500 euros per year per insured is considered tax exempt.
  • Each company will choose one insurer or another depending on the services it wants to provide.
  • Subsidy/Retirement of driver's license.
  • Life and Accident.

We can help you!

Contact us at our nearest office or send us your inquiry through our contact form.

Request for information

Recommended insurance

Vehicle fleets

If you have a large number of vehicles in your company, we offer you the possibility of contracting a fleet policy, being able to give each one the coverage adapted to its specific needs.

Transportation

We know that your goods and/or products that you have in your warehouse are well controlled, well stowed and covered by a multi-risk insurance. However, do you know if they arrive correctly and in good condition to your customer? Do you know what mechanisms exist to cover these transports?

Environmental Liability

In 2007, Law 26/2007 of October 23, 2007 on Environmental Responsibility was created with the aim of regulating the responsibility of operators to prevent, avoid and repair environmental damage in accordance with Article 45 of the Constitution and with the principles of “the polluter pays and repairs”.

General Liability

Every business activity involves assuming certain liability risks with respect to third parties. Be it for the ownership of an asset, for a service rendered or for a product supplied. In the latter case, Product Recall Expenses coverage comes into play. Without it, the consequences for the company’s image and economic situation can be very serious.
Back to all insurances
AIG

Multiriesgo

902 012 476

Cyberiesgo

914 381 284