A third of employers fail to communicate their benefits package to staff, it was claimed last week.
Research presented to the Employee Benefits Exhibition and Conference shows that one in three employees does not know what company benefits they are entitled to.
Debi O’Donovan, editor of Employee Benefits magazine which commissioned the study, said many employees only hear about benefits when they first join an organisation.
It also found that employees still regard a company pension scheme as their main priority, despite the recent trend for benefits such as flexible working and share options.
Carmen Burton, HR executive manager at accountancy firm the Norton Practice, said personnel professionals should ensure staff receive a benefits statement. “If you do not do this, it is possible you could lose staff, especially when the market is so competitive.
“If people are not aware of the full package they receive, they could leave the job for another with a higher basic salary but fewer benefits,” she said.
Roffey Park’s director of research Linda Holbeche told the conference that first-rate reward strategies are needed to counter some employees’ tendency for “howls of cynical laughter” at statements declaring they are their employer’s greatest asset.
She said, “Non-financial rewards seem to be as or more important in retaining employees who are confident that they are at least being fairly remunerated and appropriately recognised.
The research was conducted by Taylor Nelson Sofres RSGB. It is based on a sample of 982 adults.
By Helen Rowe