Most employees not satisfied with benefits schemes
Bek Frith, September 30, 2016
Workplace benefits schemes might not be providing what employees want, as many are unsatisfied with the offerings
The majority (60%) of employees are dissatisfied with their benefits schemes, according to research from Thomsons Online Benefits.
The Global Employee Benefits Watch 16/17 revealed that 70% of workers would like benefits options communicated to them around life changes, for example marriage. However, only 40% said they felt their benefits are “very relevant” to their personal situations.
Employees also took issue with how benefits were presented to them, with almost a fifth (18%) stating that they are not happy with how they have to interact with benefits. A similar number (17%) said they are unhappy with the way benefits are communicated to them.
Matthew Gregson, consulting director of Thomsons Online Benefits, said this lack of engagement is undermining benefits schemes.
“HR professionals understand the link between benefits engagement and broader workplace engagement, but they’re stumbling at the first hurdle – engaging employees in their reward schemes,” he said.
“Organisations with the highest performing benefits schemes have shown that overcoming this obstacle isn’t impossible, but depends on unlocking the power of data to take a more personal approach to benefits. Using data analytics employers can create a global benefits strategy based on quantifiable insights into how employees are interacting with their schemes and the benefits they really want.”
Separate research from Direct365 found that only 40% of 18- to 24-year-olds are hooked by job perks and incentives when they look for a new job.
The survey uncovered a large generational gap, as 70% of 35- to 44-year-olds do take them into consideration when on a job hunt.
Phil Turner, head of digital at Direct365, said that extreme incentives may work for the short term, but workers have begun to look for more useful, applicable solutions.
“The problem with a lot of job perks are that the companies offering them don’t take into consideration what the employee could really use,” he said. “Fun incentives may look great on paper, but the reality is very different and companies should be working to give staff what they genuinely want. Perks that make your working day a little easier will always be attractive – not to mention peer recognition, appraisals, and real career progression. These are priceless”.