Under half (47%) of respondents believe they have a good selection of employee benefits to choose from, according to research by Thomsons Online Benefits.
Global employee benefits watch 2018/19: giving employees a voice on global reward and benefits surveyed 2,200 employees in organisations of 4,000 or more employees in the UK, Europe, Middle East, Africa, North America, South America and Asia Pacific. The report also found that 58% of respondents want employer support in improving their mental wellbeing, although only 23% feel their employer helps in this area.
The research also found:
- 71% of respondents want support from their employer in achieving work-life balance, but only 33% feel supported in this area.
- 61% of 18 to 25-year-old respondents expect their employee benefits package to support them in staying fit and healthy, compared to 43% of 56 to 65-year-olds.
- 53% of respondents aged 26 to 35 want their employer to support them with their personal finances, compared to 34% of 56 to 65-year-olds. 31% of respondents want support from their employer in managing debt.
- 44% of respondents whose organisations do not provide one would be interested in having a wellness pot as part of their employee benefits. 37% would value fitness classes, and a further 37% would like to have access to gym memberships.
- 17% of respondents use counselling services that are provided as an employee benefit.
- 56% of respondents are offered and use paid time off as part of their benefits package, 44% utilise retirement plans, 39% take up healthcare benefits and 35% use provided financial protection benefits.
- 46% of respondents who are satisfied with how they access and manage their benefits do this face-to-face with their employer, compared to 44% who access and manage their benefits using email and 42% who use their computer.
- 21% of respondents strongly agree that they can easily access their benefits, and 23% feel they have what they need to understand their benefits offering.
- 81% of respondents who can easily access their employee benefits feel loyal to their employer, compared to 51% who find it hard to access their benefits.
- 80% of those respondents who believe they have a good variety of benefits to choose from identify strongly with their organisation’s vision and values, as opposed to 40% of those respondents who do not have a good variety of benefits.
Chris Bruce (pictured), managing director at Thomsons Online Benefits, said: “What today’s employees really want is a range of benefits accessible in a variety of ways, that help them achieve their personal goals.
“Employees are more than twice as likely to say they’re proud to work for their organisation and can see themselves working there for the foreseeable future if they understand the benefits on offer and can easily access them.
“In a world where great talent is increasingly hard to come by, it’s paramount businesses understand the role of benefits in attracting and retaining employees and use them to their full potential.”