Just under half (48%) of employee respondents rank private medical insurance in their top three most valued benefits, according to research by Ellipse.
Its survey of 1,005 employees and 504 decision makers in UK-based small and medium enterprises (SME), also found that 37% of employee respondents place life insurance in their top three most valued benefits.
The research also found:
- 31% of employee respondents place critical illness cover in their top three most valued benefits.
- 13% of employee respondents list childcare vouchers in their top three most valued benefits, and 8% rank bikes-for-work schemes in their top three most valued benefits.
- 20% of employer respondents provide private medical insurance to their staff; 20% offer life insurance, and 15% provide critical illness insurance.
Lee Lovett (pictured), chief executive at Ellipse, said: “With a wide range of different employee benefits now available to employers, it’s important to invest in those benefits that employees really value. This survey shows that employees value benefits that protect their long-term health and provide them with financial security the most.
“These results, supplemented by an employer’s own research, should help to guide their priorities when buying benefits for their staff. There is a clear hierarchy of needs when it comes to employee benefits and this research shows that group risk and healthcare benefits should be the foundation of every benefits programme.”