Research by insurance firm, Canada Life, has suggested that nearly nine million workers do not receive any benefits from their employers at all, with 31% of workers admitting they would like access to more benefits from their employer.
The research, which surveyed over 1,600 employees, also found that 20% felt the kind of benefits offered by their employer would only increase in importance following upcoming changes such as auto-enrolment.
An employer contributed pension was the most common benefit received (47%) with 39% given more than 28 days holiday annually (including bank holidays) and 36% receiving a life insurance or death-in-service policy.
However, only 7% have insurance provided by their employer to protect them against illness or injury, while 4% of respondents can receive a lump sum as part of their critical illness cover.
Canada Life’s survey also revealed that women (32%) were more likely than men (27%) to receive no benefits.
Paul Avis, Sales and Marketing Director at Canada Life, 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.”
Avis added:
“It’s good to see a large proportion are already enrolled in a workplace pension ahead of the final stages of auto-enrolment, as they will be used to the retirement saving habit. However, it is vital that more workers are covered should they become seriously ill or injured, as government benefits and savings are not enough.
“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.”
