Revealed: The 10 workplace benefits your employees want the most
A pension scheme and free tea are amongst the most popular benefits offered to employees, new survey findings have revealed.
According to the latest Reward management? report from the CIPD and LCP the top ten workplace benefits enjoyed by staff also include training, childcare vouchers and paid leave for bereavement.
10 most popular workplace benefits
Pension scheme – trust or contract-based
Paid leave for bereavement
Training and career development
Occupational sick pay
Employee assistance programme
Christmas party and/or lunch
Free tea and coffee
25 days or more paid leave for full-time employees
Paid leave for jury service
The report found that nearly all employers 97% were planning to maintain or increase their spend on employee benefits over the next two years.
It said that 8 in 10 employers intend to spend the same amount on employee benefits as they currently do, while 16% plan to increase their investment.
Nearly half of employers 43% said they were more likely to increase investment in professional development which includes training, paid study leave and professional subscriptions. Health and wellbeing would be the focus of 29% covering occupational sick pay, employee assistance programmes and flu jabs.
A quarter are looking to spend more on financial benefits such as pension schemes, loans to help staff in financial hardship and free debt advice.
One in six employers expect to invest in a formal work-life balance policy within the next year, which can include flexible working and shared parental leave. The research found that when there are a higher number of women in management positions an organisation is more likely to already have a formal work-life balance policy in place.
despite the recent economic and political uncertainty, employers are committed to investing in their employees and their future, said Charles Cotton, senior reward and performance adviser at the CIPD.
“it’s encouraging to see the benefits that have been earmarked for further spend in the near future relate to people development and well-being. Spending in these areas can help to improve employee, and ultimately, corporate performance,
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