What employees want vs what employers offer

1
What employees want vs what employers offer

• Debi ODonovan
• Employee Benefits

2
What staff want/what employers offer

• What staff want
• ..
• product discounts 32
• Car/allowance) 22
• life assurance 16
• share scheme 19
• Source What employees want research 2006 (those
  working for companies with more than 500 staff)

• What employers offer
• All staff Some staff
• discounts 60 NA
• Car/allow. 1 60
• life assu. 64 13
• Share schemes
• SAYE 12 2
• CSOP 4 7
• Sip 6 2
• Source The Benefits Research 2004

3
What staff want/what employers offer pensions

• What staff want
• Final salary 49
• Other pension plan 17
• Source What employees want research 2006 (those
  working for companies with more than 500 staff)

• What employers offer
• Final Salary 43
• Other pension 69
• DC schemes by type
• (among employers offering DC)
• Money purchase 55
• GPP 35
• Stakeholder 33
• Source Employee Benefits/Scottish Equitable
  Pensions Research 2007

4
What staff want/what employers offerhealthcare

• What staff want
• Medical insurance 15
• Personal accident 13
• Counselling 26
• Income protection -
• Optical care/vouchers18
• Source What employees want research 2006 (those
  working for companies with more than 500 staff)

• What employers offer
• Medical insurance 58
• Personal accident 19
• Counselling 43
• Income protection 42
• Optical care/voucher 22
• Source Employee Benefits/H.S.A. Healthcare
  Research 2006

5
What staff want but dont currently get

• Medical insurance 23
• Company car (incl allowance) 23
• Bonuses 18
• Final salary 14
• Flexible working 10
• Health cash plan 11
• Health screening 9
• Critical illness insurance 7
• 20 days holiday 7
• Life assurance 7
• Club membership 7
• Share scheme 6
• Income protection 6
• Other pension scheme 4
• Source What employees want research 2006 (those
  working for companies with more than 500 staff)

6
Role of benefits in recruitment, retention and
motivation

• What makes employees stay with current employer?
• 9th was final salary scheme 16
• 14th was benefits package 8
• 17th was loss of benefits 7
• 20th was loss of flexible benefits 4
• What would attract them to new employer?
• 6th was better package 17
• 9th was final salary pension 13
• 10th was level of employers pensions
  contribution 7
• Source What employees want research 2006 (those
  working for companies with more than 500 staff)

7
Questions?

• All Employee Benefits research is available on
• www.employeebenefits.co.uk