Nearly all employers believe they are communicating their benefits effectively.
According to the Hay Group Flash Benefits Survey, 99% said they were using a variety of channels to communicate benefits effectively. Workplace intranets were the most popular method for doing this.
However, 40% of organisations are failing to benchmark total remuneration, depriving them of the most comprehensive and accurate data to best inform their reward decisions.
In addition, employees rank their pension as the benefit they value the most, while 80% of employers have made changes to their benefits provision in the last 12 months.
Claudia Canavesio, reward expert at Hay Group, said: “It is surprising such a large number of organisations are failing to benchmark their total reward, and as a result not making entirely informed decisions about how, and how much to reward their staff.
“What is not surprising, however, is that such a large proportion of employers have made changes to their benefits over the last year. The results indicate that although organisations may not be have been in a position to offer their staff pay rises, they are still striving to offer an attractive reward package.”
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