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UK employers ‘offering choice of benefits’

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More employers are offering a choice of benefitsMore than four in ten UK employers now offer a choice to their employees of the benefits they can receive, new research has revealed.

According to the survey by Mercer, a quarter of managers not already doing this are now considering introducing such a scheme.

The research was carried out internationally on 1,700 organisations and it was found that UK businesses were the most likely to offer their workforce choice when it came to benefits.

In the UK, while 28 per cent of employers offer some form of flexibility, 14 per cent provide "considerable" flexibility.

 

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Jeffrey Fox, a consultant in Mercer’s UK health and benefits business, said: "Clearly, there is a growing trend towards tailoring employee benefits to individual needs, rather than offering a standard package for all."

He added that this demonstrated that businesses were recognising that workers would value their benefits more if they are tailored towards their own personal circumstances.

Mr Fox went on to note that benefits were proving popular at a time when the economic turndown was causing companies to delay handing out pay increases or bonuses.

Ruth Spellman, chief executive of the Chartered Management Institute, recently stated that flexibility could help to boost productivity in the workplace, while also increasing retention of staff.

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