Keeping a benefits package fresh and relevant is the best way to ensure it continues to keep staff interested and engaged with what is on offer. In the past year, just under half (44%) of respondents said they had introduced a new benefit to the mix.
Failing to hold employees’ interest in benefits and achieve a good level of take-up can see employers fail to achieve the best return on their investment, which is vital when every element of their spend will be under scrutiny. This may be why, as was the case last year, the main driver behind respondents opting to introduce a new benefit was a belief that staff would value it. The next three reasons – the belief that it will improve the benefits offering, employee requests and cost – also remain unchanged.
For the second year running, retail or leisure vouchers and bikes-for-work schemes are the two most commonly introduced benefits. These may reflect employers’ willingness to recognise employees’ needs and priorities in the current economic climate.
Read more Benefits research 2012