A survey conducted by business information provider Croner Reward revealed a different picture for employees, with 80.4% of employees showing a pension scheme to be the most important, while only three in 10 respondents viewed death in service as a priority perk.
The survey, which included more than 100 HR managers, showed that packages are out of sync with today’s workers as more than half of employers questioned admitted that staff were not using the benefits because they did not fit in with their individual lifestyle requirements.
Nearly half of employee respondents said the benefit of private medical insurance was a top perk , while one-third wanted more flexible working, both of which are not widely offered by employers.
Croner advised businesses to review their company benefits scheme. Andrew Walker, a spokesman for Croner, said: “Although an important factor to all employees, we are increasingly seeing that workers are not solely motivated by money.
“With modern-day lifestyles becoming ever more demanding, employees are looking to employers to help them achieve that essential work-life balance, whether it is by allowing them to work more flexibly or through something like free healthcare. Businesses can help employees achieve this balance by regularly reviewing their schemes and bringing them up to date with the requirements of their employees,” he added.