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Companies lose out by not taking action to get the best value from employee benefits programme

Despite the opportunities to increase their return of investment on their employee benefits provision, employers are not recession-proofing their perks, new research reveals.

Nearly a third (29%) of employers have made no changes to their employee benefits during the recession despite the almost complete collapse in the war for talent due to rising unemployment, according Aon Consulting.
Of the organisations that have made changes, 38% have reviewed their defined-benefit pension provision, 11% have reassessed their defined-contribution scheme and 19% have reviewed their other employee benefits.
Helen Dowsey, principal at Aon Consulting, said: "Employers are missing a trick when it comes to getting best value from their benefits programme.  Pension schemes and employee benefits programmes, for example, offer a range of opportunities to save money, both in terms of short-term fixes and long-term solutions.   
"Whether via a simple re-broking exercise for group health insurance while rates are currently low, or a major overhaul of pension scheme set-up, or any number of routes in between, there is money that can be saved while still offering a competitive and effective benefit programme."

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