07 January 2013

Almost 1/3 of staff don’t receive workplace benefits

Offering employees benefits like gym subscriptions can improve morale

Many businesses still struggle when it comes to delivering benefits to their employees, according to new research.

The insurance firm Canada Life found that a staggering 9 million workers are not receiving any benefits from their employers, leaving firms open to the possibility of losing their best staff. With the economy still struggling to grow, it is increasingly important for firms to retain their experienced, key staff members as they look for growth in 2013.

But what more can be done to encourage growth?

No benefits

31% of staff say that they would like more benefits from their employer, with access to a gym or private healthcare insurance among those that many firms offer.

And with the introduction of self-enrolment fast approaching, many businesses will be forced to introduce benefits for staff.

Paul Avis, sales and marketing director at Canada Life Group Insurance, said: “It is disappointing that almost a third of workers do not believe they receive any workplace benefits at all.

“They may well feel that they are lacking in the support or recognition that they deserve, and with upcoming changes such as auto-enrolment putting workplace benefits firmly in the spotlight, they are even more likely to notice this.”

Morale problems

If employees feel like they could get a better package elsewhere, they are unlikely to stay. Gradually introducing benefits for employees will not only improve morale and make current members of staff more likely to stay, it also likely to attract a new talent.

As Mr Avis adds: “Now is the perfect time for employers to decide with the help of an advisor what kind of benefits they could be offering their workers and, if they have any existing benefits, how to make these stretch further.

“It won’t just benefit employees, but businesses too, as happy, healthy and secure workers are far more likely to be productive.”

With a new year upon us, now could be a good time to make improvements to staff benefits and morale.