Uncategorized January 17, 2012

Employees view flexible benefits as "very important"

85 per cent of employees view flexible benefits as "either very important or important", Fresh Business Thinking reports.

A New Year task that decision makers running a family business might like to undertake is examining the business's flexible benefits offering, as a survey has found that almost a quarter of companies do not currently make such a provision, yet employees increasingly value them.

Research carried out by the Chartered Institute of Payroll Professionals (CIPP) revealed the importance that British workers place on the extras their employer provides / could provide on top of their basic salary.

The most popular benefit was a pension contribution, 77 per cent of respondents said, followed by childcare vouchers, private healthcare and charitable payroll giving schemes.

Appreciative that spending on benefits might not be a company's priority right now, CIPP Senior Policy Liaison Officer, Diana Bruce, pointed out at bdaily.co.uk that a flexible benefits package can let employees know they are valued by the business, particularly in times of pay freezes and possibly even pay cuts.

To get the best from their benefits offering, she said, businesses should find ways to communicate what is available to staff.

"The employer's task is not a simple one," Ms Bruce said, "as they too are looking for the best value from their spending so the requirement to source the most cost effective benefits, whilst ensuring the provision of optimum reward for their staff is vital."

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