Small employers focus on benefits – MetLife

Three-quarters of SMES who currently offer no employee benefits are considering doing so, according to research from MetLife. The research finds that a quarter of UK small and medium employers do not offer any benefits above the legal minimum requirement to provide a workplace pension, with 21% stating that they used to offer benefits but have withdrawn them in the past two years.

The main reasons for considering introducing/reintroducing benefits were to boost productivity and improve employees’ health and wellbeing. MetLife is urging employers to use the benefits offer to help tackle rising uncertainty amongst staff, particularly in the field of financial wellbeing.

Tom Gaynor, employee benefits director at MetLife UK said:

‘Benefits should be seen as a performance driver worth investing in, not as a cost without payback. Our survey is encouraging as it shows the potential that is out there. The industry’s challenge is to help SMEs take the right steps.’

For more information, please visit: https://benefittrends.metlife.com/