Are your company benefits hitting the mark with staff?

posted by 3 years ago in News

Wage stagnation has plodded on past a decade now meaning that staff perks can make all the difference to the satisfaction of your employees. However, latest research has revealed workers are far from happy with the benefits offered to them.

A survey of more than 2,000 employees commissioned by specialist insurer Hiscox revealed that the most common perk was company sick pay with 58 per cent of firms surveyed offering it as standard. Paid overtime was popular as well as maternity leave beyond the statutory requirement which was offered by 38 per cent of respondents.

Which perks are least common?

Duvet days, free cocktail hours and an office slide were all offered to just 1 per cent of those asked. Despite only 10 per cent receiving a “Golden Hello” bonus on acceptance of a job offer, employees rated it as the most satisfying perk. The percentage of those receiving this bonus rose to 33 per cent for those who earn between £50,000 to £59,000.

The research claims that men are twice as likely to be impressed by a cycle to work scheme than women whilst flexible hours, working from home and dedicated Christmas leave all appealed more to the women surveyed.

Despite the rewards and savings being offered by businesses to staff, the research indicated that many of the perks offered either go unused or leave recipients underwhelmed. So, if you can’t afford to offer a “Golden Hello” what alternatives are likely to get the thumbs up?

Here are some of the most popular…

Flexible working

Pensions

Childcare vouchers

Income protection

Free fruit/ lunch