EMPLOYEE BENEFITS
Half of employees do not recognise the value of their benefits package
Half of employees do not understand the total value of the benefits package their employer provides, according to research from Vebnet and Standard Life.
The research also revealed:
Exactly a quarter of 18-24 year olds make no use of the benefits available to them at all.
Despite the lack of understanding, nearly two-thirds (64%) of respondents indicated that the employee benefits package was important when choosing a job.
Outside of salary, the benefits valued most by employees were pension (68%), flexi-time (15%) and bonus (6%).
%ADVERT%
A final word
“Many employers invest a considerable amount of cost and effort in providing a quality benefits package. Unfortunately a significant number of employees are not recognising the value. The research clearly demonstrates the need for employers to review how they engage employees with their benefits. The technology and communications expertise which is now available in the market allows employers to be more innovative than ever before.” - Stephen Ingledew, Corporate Managing Director, Standard Life.
Want to know more?
The fieldwork, undertaken between the 11 and 14 of January 2011, was conducted by YouGov. It combined a survey of both employers and employees. Larger organisations (1,000+ employees) were selected because they were most likely to have in place workplace benefits systems.
The employee survey was completed by 1,014 in the following roles: junior manager, team leader, supervisor, executive, clerical, other worker with no managerial responsibilities.
Vebnet has been “specialising in creating global employee benefits solutions for over ten years”. It’s part of the Standard Life Group, one of the leading savings and investment providers. For more information visit www.vebnet.com.