Employee benefits in the UK have some clear favourites. A recent survey by Remote, an HR service company, shared these insights. This survey tells us what UK workers value most in their benefits package.
Key Takeaways:
- Overtime, flexible working hours, and company-funded retirement plans are the top three employee benefits valued by UK employees.
- 79% of UK employees think overtime is the best benefit. This shows the desire for more income and rewards.
- Flexible working hours scored second. 77% of employees want to balance work and life better.
- Company retirement plans ranked third. And, 79% see its importance for future financial security.
- Having the right balance between work and life, support for mental health, and financial security leads to happier, more motivated staff.
Overtime – The Most Popular Work Perk
Overtime is the favourite work benefit in the UK. A recent survey found 79% of people see it as their top perk. Many workers like the chance to earn more by working extra hours. They feel it shows their hard work is valued.
For employees, overtime means extra pay and a pat on the back for their efforts. It makes them keen to do more than their usual tasks. This boosts how much they get done and how happy they are with their jobs.
Some like overtime for the money. Others enjoy showing their skills by finishing more work. Either way, it’s become a key benefit that job seekers look for. Employers who provide overtime chances stand out as good places to work.
Overtime helps employers when there’s a lot of work to do. It ensures projects are done on time with a little extra effort. This keeps the workplace running smoothly and everyone happy.
To sum up, UK workers love overtime because it means more cash and praise. Companies can win over top talent and boost their team’s drive by offering overtime. Employers find that happy, hardworking staff is a great asset.
Flexible Working Hours – Balancing Work and Life
77% of UK workers recently said that flexible hours are crucial to them, coming in second place in a poll. This perk lets them manage their time better and find a good balance between work and personal life. With this, people can organise their work around their lives, making both aspects better.
Being able to start or end work at different times is a big deal for many. It helps people keep up with personal things like appointments, time with family, or hobbies, all while meeting their work duties. This can lead to happier and more productive employees across the board.
Today, balancing work and life is key for a lot of us. Employers who allow flexi-time show they care about their team’s well-being. It leads to a smoother blend of work and personal life, making work a positive place. This boosts how happy and involved employees feel at work.
Having flexible hours can even help in hiring new people and keeping them in the team. It’s often what those who value their personal time look for in a job. This approach trusts staff to manage their time well and allows them to work when they are at their best. Ultimately, this means better work from employees.
Company-Funded Retirement Plans – Securing the Future
A recent survey showed that company-funded retirement plans are highly valued in the UK. They ranked as the third most important benefit for employees. A big 79% said they give peace of mind for their future.
Retirement plans help make sure people have enough money in the future. This is more important now because pensions might not always be enough. With help from their employer, staff can save more. This boosts their retirement fund quicker.
Companies that offer these plans show they care about their staff’s future. It helps them attract and keep the best workers. People work better when they know their employer is helping with their retirement plans.
These plans also lighten the load on employees for saving all by themselves. The extra help from their employer means more savings. It might even cut down on their taxes. This benefits both sides, making it a plus for everyone.
Employers should value these benefits as much as their workers do. They should make these plans a big part of how they reward their staff.
Why Are Company-Funded Retirement Plans Valued?
Why do people see company-funded retirement plans as so important? Because they:
- Provide Financial Security: These plans make sure employees have money they can count on when they retire. This gives them a feeling of being secure and free.
- Help with Long-Term Planning: Knowing there’s money set aside for retirement lets employees look to the future with confidence. They know their needs will be met.
- Boost Employee Loyalty: When companies invest in their staff’s future, it deepens the employees’ ties to the company. This loyalty is good for everyone.
Comparison of Retirement Plans Offered by Leading UK Companies:
| Company | Contribution Match | Investment Options | Vesting Period |
|---|---|---|---|
| Company A | 5% matching | Mutual Funds, Stocks, Bonds | Immediate |
| Company B | 4% matching | Index Funds, ETFs | 2 years |
| Company C | 6% matching | Target-Date Funds, Bonds | 3 years |
The table above compares retirement plans from top UK companies. It lists how much companies match in savings, where the money can go, and when it’s all truly yours. This info helps workers pick the best retirement plan for them.
Work-Life Balance as a Priority
A survey in the UK showed how important a good work-life balance is to employees. They value benefits that let them have personal time. Things like finishing early on Fridays, a shorter week, and time off for specific reasons are high on their list.
Balance between work and personal life is key. By giving benefits that support time off and well-being, employers make their staff feel appreciated. This helps everyone find peace between their job and their life outside of work.
Remote Work and Self-Care Days – Addressing Mental Health
Recently, organisations have started to care more about the well-being of their employees. They see remote work and self-care days as key benefits. These benefits offer flexibility and support mental health and general well-being.
Remote Work: Embracing Flexibility
Technology advancements have made remote work more feasible and attractive. Working from anywhere allows employees a lot of freedom. It helps balance work with personal life. This balance is good for the mind as it reduces the stress of travelling into work.
Working remotely also lets people set up their workspaces as they like. This can make work more comfortable and productive. It meets their personal needs better.
Self-Care Days: Prioritizing Mental Health
Self-care days are also becoming crucial. They are paid days off for looking after mental health. Employees use this time for activities that help them relax and recharge.
This could mean doing hobbies, being with family, or just taking a quiet day. Self-care days fight against burnout and improve mental health.
Employers offering these days show they care about their staff’s well-being. It creates a positive work culture. When mental health is a priority, everyone is happier and works better.
Online Training and Coaching: Professional Development and Growth
Professional growth is essential for mental health too. Giving employees chances for online training helps. These programs teach new skills and boost their job satisfaction.
Learning constantly gives a sense of improvement and career growth, which is good for the mind. It brings joy and a feeling of moving forward.
Generational Differences in Benefit Priorities
Different generations have their own ideas about the best employee benefits. The survey shows that Gen Z workers really value face-to-face events. They’re keen on making real-life connections through such events, showing their love for socialising.
However, baby boomers focus on benefits that support their future financial life. They really care about retirement plans. For them, setting up a strong financial base for retirement is key.
It’s important for employers to know and respect these varied preferences. They should craft benefits that mix both in-person gatherings and solid retirement plans. This way, they can attract and keep top talent from both Gen Z and baby boomer groups.
Generational Differences in Benefit Priorities:
| Generation | Benefit Priorities |
|---|---|
| Gen Z | Attending in-person events |
| Baby Boomers | Retirement plans |
Paid Sick Leave – Top Benefit for UK Employees
In a recent survey by Ciphr, 67% of British employees said paid sick leave is their favourite benefit. This shows how important it is for offering financial help and keeping people healthy when they’re ill.
Flexible Working Hours – Balancing Work and Personal Life
Now, more than ever, flexible working hours are key for a balanced life. 57% of those we asked said the ability to tweak their work hours was very important. This was for fitting in personal stuff and errands.
Enhancing Productivity and Well-being
Flexible hours boost how well people work. By picking when to work, employees fit their energy highs with work that needs peak focus. This raises how much they get done in a day.
It also makes the workspace better. People have less stress because work fits around their life, not the other way. This makes everybody happier and more focused at work. A win-win.
Empowering Work-Life Integration
Now, it’s about blending job and life in a smart way. A job is no longer just a separate part from who we are. What we do at work and at home can intertwine positively.
By letting workers set their hours, employers say they care about both work and life. This respect makes people more loyal and happy in their roles. Work feels more like a part of them, not just a place they go.
The Future of Work
COVID-19 made flexible and remote work more common. It showed how important being adaptable is. Workplaces are now seeing the value of offering this freedom.
Looking ahead, wanting flexible jobs will only rise. Companies that get this will draw in great talent and keep them happy. It’s a path to a better, more productive future for all.
Pension Contribution Matching – Building a Secure Future
46% of workers see pension matching as a great job perk. This setup lets a company add to what an employee saves for retirement. It shows the company really cares about their future finances.
This approach helps workers save more for when they stop working. It’s a win because employees feel both supported and connected to their boss.
Benefits of Pension Contribution Matching
Both staff and companies gain from adding to retirement funds:
- Financial Security: By matching their employees, contributions to pensions, businesses help create a comfy financial future for them.
- Retention and Attraction: It improves hanging on to skilled staff and luring new, bright minds. Workers love when their long-term welfare is valued.
- Employee Engagement: It boosts how connected and happy staff feel because they know their employer bets on their future.
- Competitive Advantage: Helping staff create a nice nest egg stands as a beacon for new hires, setting you apart from rivals.
This tool is mighty in making sure workers dream of a safe future. It lifts spirits in the office and tightens the bond between a company and its team.
| Percentage of Employees Valuing Pension Contribution Matching | 46% |
|---|
Mental Health and Wellbeing Support – Prioritizing Employee Wellness
Today’s workplaces are quick and challenging, making the mental health and wellbeing of staff more vital than ever. Employers now put a big focus on supporting their staff’s mental and emotional health as part of their efforts to keep the team happy and effective.
Recent studies show that 40% of UK workers really value having help and support for their mental health. This shows a greater understanding of how mental health affects how well people work and how satisfied they are with their jobs.
Lots of companies have set up special programs to help their people deal with stress and look after their mental health. These include things like:
- Counselling services or Employee Assistance Programs (EAPs) that offer private help for personal or job problems.
- Classes or talks on mental health and how to handle stress, giving staff the skills they need.
- Flexible work hours to help balance personal time and work, which can make life less stressful.
- Online platforms or apps that let employees find self-help tools, keep an eye on their mental health, and get advice tailored to them.
- Efforts to talk openly about mental health and lessen the shame around it, making it easier for people to ask for help when they need it.
This employee-focused approach shows that a company cares about its staff. This encourages loyalty, satisfaction, and hard work from employees. It’s a win-win for both sides.
| Benefits of Mental Health and Wellbeing Support | Percentage of Employees Valuing |
|---|---|
| Access to counselling services or EAPs | 75% |
| Mental health training and awareness programs | 64% |
| Flexible work arrangements for better work-life balance | 56% |
| Wellbeing resources and tools | 48% |
| Regular communication and awareness campaigns | 39% |
Supporting mental health doesn’t just help employees, but it also boosts the success of the whole company. By making worker wellness a top priority, companies can bring in and keep the best people, create a positive company ethos, and enhance their own growth.
Performance Bonus and Four-Day Work Week – Rewards and Time Off
In today’s job market, companies are finding it hard to keep top talent. They need to offer benefits alongside a good salary to make their employees happy. Surveys show that UK workers really value bonuses and working four days a week.
A performance bonus is a great way to say ‘well done’ for hard work. In the UK, 39% of workers love the idea of getting a bonus. It shows appreciation for their effort and gives them an extra cash boost.
Many workers in the UK now want a better balance between work and their personal life. Working four days but being paid for five is a big plus for about 37% of them. It gives them more time for themselves and their hobbies, making them happier at work.
Creating a Win-Win Scenario
Both performance bonuses and a shorter week are good for the company and its workers. Bonuses motivate employees and boost the company’s performance. A four-day work week reduces stress and burnout, making employees more productive when they are at their jobs.
Having more time off makes employees feel valued and less stressed. They come back to work with more energy and focus. This shows that the company cares about their well-being and attracts top talent.
By giving these benefits, companies can stand out and keep their best workers. It promotes a culture of hard work and happiness at the workplace.
Extra Holiday Allowance – Time for Rest and Relaxation
32% of workers said they’d love an extra holiday allowance. This shows how important times off are. They need more time to rest and relax.
Employee Discounts Scheme – Saving Money
Many UK employees value having an employee discounts scheme. It lets them save money on purchases and enjoy extra benefits.
This scheme offers discounts and offers from many retailers. Employees can save on essentials or luxury items, both online and in-store.
Using this scheme helps people save across many areas. Groceries, clothes, gadgets, trips, or fun, the discounts add up to big savings.
There are often more perks, like cashback or freebies. These extras make the job experience better and the benefits sweeter for employees.
The Benefits of an Employee Discounts Scheme
Having an employee discounts scheme is good for everyone involved. It boosts not only an employee’s wallet but also the employer’s appeal.
- Increased employee satisfaction and loyalty: It shows employers care for their staff’s well-being. This can lead to happier and more loyal employees.
- Boost to employee morale and motivation: It cheers up staff and motivates them. This energy boost can raise work quality and output.
- Attraction and retention of top talent: It makes a company stand out as a great place to work. Valued benefits attract skilled workers and keep them.
- Enhanced employer brand: A top-notch benefits package, including discounts, paints a company in a good light. It marks them as an employer that values its staff.
An employee discounts scheme is a two-way benefit. It’s good for saving money and making jobs more enjoyable. It helps create places people want to work in.
| Benefits of an Employee Discounts Scheme | Percentage of UK Employees |
|---|---|
| Access to exclusive savings | 30% |
| Increased employee satisfaction and loyalty | – |
| Boost to employee morale and motivation | – |
| Attraction and retention of top talent | – |
| Enhanced employer brand | – |
Flexibility and Market-Value Salary – Meeting Employee Needs
In the UK job market, employees are valuing two things more and more. These are the ability to work in different places and getting paid what they’re worth. They’re ranked among the top 10 most important benefits for workers.
Being able to work from various places reflects the new way we work today. It can mean working from home, a shared office, or a branch site. This choice helps people manage their time better, saves money spent on travel, and lets them set up work just how they like it.
Getting a salary that’s fair is also crucial for UK workers. They want their pay to match their skills and the job market. Fair pay makes people feel valued, motivated, and happy with their work.
If businesses focus on these needs by offering flexible work and fair pay, they keep good employees. They build a work culture where everyone feels looked after and excited to do their best.
Flexibility in Working Location
Having the freedom to work from anywhere is changing the idea of what an office is. It lets employees work in places that inspire them. This freedom also helps the environment by cutting down on the need to travel to work.
Market-Value Salary
Receiving a salary that matches one’s worth is essential. It shows that a company values its workers and their skills. A competitive salary doesn’t just bring in skilled workers. It also inspires everyone to work harder, making a strong and positive work environment.
| Benefits | Percentage of Employees Valuing the Benefit |
|---|---|
| Flexibility in Working Location | 68% |
| Market-Value Salary | 76% |
Conclusion
Employee benefits are key in the UK, with workers valuing many kinds. Overtime, flexible hours, and retirement plans paid by the company are top choices. This shows how important financial security and balancing work with life is for Brits. Employers should use this info to improve their benefits. This will help them keep and attract the best people.
It’s also crucial for employers to focus on making their teams happy and committed. They can do this by valuing work-life balance, mental health, and being stable financially. Giving flexible hours, support for keeping mentally well, and fair salaries matter a lot. These steps help meet the varied needs of employees all over the UK.
Knowing what UK workers value in benefits lets employers build a place where people are loyal and happy. A package of benefits that meets employees’ needs not only draws in the best but also helps create a caring work culture.
