Workplace benefits key factor in retaining staff
More than a third of UK employees (36%) view workplace benefits as a key factor in their remaining with an organisation, research reveals.
Mercer’s What’s Working Around The World report found that 30% of UK employees joining a new organisation were initially drawn in by the benefits package on offer.
The same percentage also showed a greater appetite for flexible benefits, saying they were willing not only to reduce the value of some benefits while increasing the value of others but also to pay personally for an improved benefits package.
The consultancy surveyed nearly 30,000 employees in 17 countries over the last 18 months to establish current levels of employee engagement and understand ‘how workers feel about the changing employment value proposition’.
While pay remains top priority for UK employees, pensions and retirement are ranked fourth most important value proposition with only one in three workers saying their employer does enough to help them prepare financially for retirement.
And Mercer’s study revealed worryingly low levels of employee engagement with more than a third of UK respondents saying they were giving serious consideration to leaving their current employer.
This number rose to four out of ten in the under 35 age group.
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