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Flexible benefitsHR strategyPay & benefitsYardstick Update

Organisations in dark over cost of benefits

by Personnel Today 3 May 2005
by Personnel Today 3 May 2005

More than half of the UK’s employers do not know what proportion of their paybill is spent on benefits for staff, according to a survey from employee benefits consultancy Jardine Lloyd Thompson.

The survey of 261 small and medium-sized businesses found that 59% of respondents did not know their benefits spend as a percentage of their payroll costs.

rewardfactors-3may05-360wide.gif

The authors of the report suggested that, without this information, it would be “very difficult for employers to convey the overall value of the benefits packages to employees”.

Just over a quarter (28%) of respondents reported that their organisation had a defined reward and benefits strategy. When asked to cite the key influences on this, the link to market rates, attracting staff and employee consultation came out top.

www.jltgroup.com

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Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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