Research: employee benefits are not just a perk – they’re a necessity.
When was the last time your business reviewed its benefits package? Our latest research shows that for small and medium enterprises (SMEs) – it’s not often enough.
In our brand-new report, Stretch salaries further with employee benefits we asked 500 HR decision-makers and 2,000 employees across the UK about their attitude towards workplace benefits and how they can be optimised to provide better support during the cost-of-living crisis.
The results? Clear disparities between the benefits employees need to tackle rising everyday costs vs. what they are currently receiving.
Whilst HR decision-makers recognise the increased importance of money-saving voluntary benefits – acting on this instinct seems to be lacking. The majority of employees (53%) surveyed think their employer could do more to support them through the cost-of-living crisis. But with this support not forthcoming, 4 in 10 employees are taking matters into their own hands and actively looking for better-paying jobs.
So, what’s the solution?
It’s clear the in today’s economic climate, workplace benefits are no longer just a perk – they’re a necessity. Employers should be proactive in helping their employees’ salaries stretch further. But with lack of budget a barrier to taking action for 51% of employers – what’s the solution?
Extras is the free employee benefits platform. Unlike others, there is no sign-up fee, no per-employee seat fees and no fixed contract. This gives your business the flexibility to provide a range of benefits that save employees money with no financial strain to yourselves.