A flexible income plan - sometimes also known as a cafeteria plan - offers many advantages. Many EASI employees used the plan this year to support a good cause.
What is a FIP or a Flexible Income Plan?
Today, many companies have three or four generations working together. A cafeteria plan, or as it is called with us - a flexible income plan - offers everyone the opportunity to compose part of his or her own salary.
With such a flexible income plan, the biggest part of your salary will still be transferred to your bank account, but a part will be deposited into your FIP. With the money in your FIP you can then, depending on your priorities at that time, decide for yourself to use that part of your salary to choose something other than cash. The flexibility of the choices (how many times, period when you can make your choices...) depends on the company you are working for, so we can only speak for ourselves in this case. At EASI you can change your choices every year and decide from month to month which benefits you want to select.
What do employees do with it?
With this 'flexible salary' you can choose between a lot of different options. Some of the most well-known options are:
- electronics or IT equipment
- a fuel card for abroad
- extra holidays (both extra-legal and seniority leave)
EASI is very committed to its FIP, employees can use their budget in 2021 to lease an e-bike or e-step, for example, or to optimize the budget for their retirement savings.
A part of our extensive FIP also offers the possibility to deposit money directly to charities. These donations turned out to be a very popular option with our employees.
They can choose to add their own charity, which makes the connection with the organization of their choice stronger. This year they opted to support:
- The Red Cross
- CH Mouscron
- Medical Center for General Practitioners
- Kom Op Tegen Kanker
- Doctors Without Borders
This is the first year that our employees were able to take advantage of this opportunity, and it was an immediate success. This past year, a total of 3229.07 euro was deposited by all colleagues. The EASI management is very proud of its generous employees and decided to double the amount donated by the employees.