Are you sure you want to mark this comment as inappropriate? The insurance company gives employees an additional day's holiday for Christmas shopping. They will provide wider support and offer new propositions to customers including data analytics and wellbeing services, not just insurance.’. If staff are asked: ‘What benefits do you want?’ the likely outcome will be a confusing range of ideas, many of which would not be practical.By contrast, if employees are asked what they think of their current benefits, whether they understand them, how important they feel they are and ultimately if they value them, this can be a good starting point. Photograph: Archive Holdings Inc./Getty Images, automatically enrol you on a pensions scheme, one in 10 of us will go on long-term sick leave during our working lives, 28% probability of entering poverty within one year of leaving work for health-related reasons. Choosing the Most Important Benefits to Employees Employee Benefits: A Survey from the UK Workplace. The tech giant provides employees with free food while they are at work, with a range of different cuisines on offer. Rebecca joined the HRreview editorial team in January 2016. SmallBusinessPrices.co.uk conducted a survey with UK employees to see if they are satisfied with their job benefits. Employee benefits and expectations are continuing to rise as more workers are getting clued up on what benefits they can demand. Changes are occurring in the UK employee benefits market, according to John Dean, managing director of Punter Southall Health and Protection and Cheryl Brennan, director of Corporate Consulting. Airbnb offers staff employees $2,000 (£1,413) to travel and see the world. 3. The vouchers are part of a government scheme, operated through employers, that let you pay for your childcare out of your pre-tax salary, rather than your taxed income. John Dean, managing director of Punter Southall Health and Protection and Cheryl Brennan, director of corporate consulting, discuss. This knowledge presents a big challenge to the insurance industry as possible buyers will already know their propensity to become ill. Insurers will have to adapt to these changes otherwise premiums will have to rise substantially.’, Dean concludes, ‘Currently, employee benefits programmes focus on supporting those who are ill or dying. Facebook. How long is too long for the Christmas decorations to stay up? 13. Top 10 Employee Benefits for 2021. More on Topics Related to HR Trends: What Benefits Do Employees Value Most? The company offers employees an extra day off for their birthday. To get more content and advice like this direct to your inbox, sign up for our weekly Careers update. Health insurance and death in service is a major concern with Generation X and Baby Boomers – 49% of them consider it as a work perk compared to the 20% of Generation Z and Millennials. In the survey of 2,011 UK employees and 502 employers, it was found that the benefit workers valued the most was between 22 and 35 days of annual leave at 44%. Your email address will not be published. Multiple-choice questions quickly determine which benefits are most sought after, and, if you include open-ended questions, they’ll tell you why … This makes it complex for companies to work out the costs of their benefits. More vacation time or PTO is a win-win for employees and employers. Support Workers with Better Employee Benefits. Submit your details below to receive daily updates direct to your inbox. The options that are offered might depend on a number of factors, including budget, and the demographic make-up of your organisation. ‘We could see companies providing greater financial support to help younger workers get a foot on the housing ladder or benefits such as home help services to support employees looking after elderly parents or companies offering childcare services in greater depth – this will be an interesting area to watch.’. SmallBusinessPrices.co.uk conducted a survey with UK employees to see if they are satisfied with their job benefits. Fleet House, 59-61 Clerkenwell Road, EC1M 5LA SmallBusinessPrices.co.uk conducted a survey with UK employees to see if they are satisfied with their job benefits. Jagex, UK’s largest independent developer and publisher of online games offers staff free bicycle repairs at the office, encouraging them to cycle to work and keep fit. Yet there are so many employee benefits to choose from. Google is famous for its over-the-top perks, which include lunc… This could save you around £1,000 a year. Has your office Christmas party been cancelled this year? You can find our Community Guidelines in full here. This field is for validation purposes and should be left unchanged. ARM Holdings offers employees a 4-week sabbatical for every 4 years of service. This is different from payment protection insurance (PPI), which only pays a specific bill such as your mortgage. The study has revealed huge differences in what people want compared to what they get, such as 6% of employees currently receiving travel and company car benefit, although 16% of staff surveyed would rather have transport benefits over a pay rise. More than third of employees admit perks and benefits are amongst their top consideration before accepting a new job, Find your bookmarks in your Independent Premium section, under my profile. AutoTrader UK has a wine club, giving employees discounted wine delivered to their door every month. If staff are asked: ‘What benefits do you want?’ the likely outcome will be a confusing range of ideas, many of which would not be practical.By contrast, if employees are asked what they think of their current benefits, whether they understand them, how important they feel they are and ultimately if they value them, this can be a good starting point.
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