Employers that invest the time, effort and money required to offer benefits to their workforce will want to ensure they gain the best possible return. In the long run, keeping a benefits package fresh and relevant to employees is an excellent way to ensure staff remain engaged and interested in what is on offer. More than half (54%) of the 2010 respondents have introduced a new benefit in the last year.
Looking at which perks employees will value and use, what competitors offer and the best deals for their budget can all drive changes. Tax and legislative changes can also influence what employers offer. This may be reflected in the percentage of employers that introduced childcare vouchers in the past 12 months, which has fallen year on year. In 2009, 23% of respondents said they had introduced the perk, but just 10% did so in the past year. Some employers may have been deterred from bringing in childcare vouchers following the government’s decision – which was subsequently revised – to phase out tax breaks on the perk.
Read more articles from the Employee Benefits/Alexander Forbes Benefits Research 2010