United Kingdom

Employee Benefits should complement - not substitute - good remuneration packages

February 2016

 

Employee benefits should be used alongside good wages and bonuses rather than as a replacement, a recruitment expert has advised, following research which shows that the majority of UK staff would prefer a pay rise to workplace benefits.

According to a recent survey carried out by online job search company CV-Library, 85 per cent of UK staff said they would prefer a pay rise or bonus to workplace perks, whilst over half of the 2,439 employees surveyed felt that employee benefits was a 'passing fad'.

In particular:

  • 49 per cent described their workplace employee benefits as 'OK'
  • 41 per cent said they preferred to have more time off work instead of receiving employee benefits, whilst 17 per cent opted for money-saving benefits
  • Just 2 per cent of respondents rated quirky, wellbeing benefits such as yoga or massage.

Lee Biggins, founder and managing director of CV-library said that effective employee benefit programmes which are meaningful and relevant to the workforce can improve productivity and overall wellbeing. However, he warned that benefits should not be used as a 'replacement' for 'fair salaries and bonus schemes', particularly for new January recruits who may be experiencing a 'funding drought' after Christmas.

Workforce incentive schemes such as gym membership should be used as a complement to talent attraction schemes, Biggins added.

Jeff Fox, Senior Benefits Consultant at Aon Employee Benefits said: "For many organisations, employee benefits are of strategic importance, impacting recruitment, retention and engagement. The landscape keeps changing, but one thing is clear, a defined and established employee benefit proposition that supports an organisations' wider business objectives remains vital and should not be overlooked."

 

 

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