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What benefits do employees really want

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Employees would like to receive cars, final salary pensions, medical cover and bonuses ... sports cars and. free in house bar. What keeps employees loyal? ... – PowerPoint PPT presentation

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Title: What benefits do employees really want


1
What benefits do employees really want?
  • Presented byCynthia Pinto, TNS
  • October 2006

2
Agenda
  • What benefits do employees get?
  • Which do they value most?
  • The role of benefits in retention, recruitment
    and motivation
  • Attitudes to pensions

3
What benefits do employees get?
4
What benefits do employees get?Top benefits 20
days holiday, final salary scheme, bonuses,
flexible working
Base All employees
5
What benefits do employees get?Employees in
larger organisations are more likely to receive
benefits
500 employees
All employees
Base All employees
6
Employees favourite benefitsEmployees value
final salary pensions, flexible working, holidays
and bonuses
Holidays and final salary pension schemes are
top favourites among Public sector workers and
professionals
Cars and final salary pension schemes are
managers favourites
Bonuses and flexible working are top two
favourites among Sales and service staff
Those aged 55 say their final salary pension
scheme is their favourite benefit
Base All employees receiving these benefits
7
What benefits would employees like to get that
they dont now?Employees would like to receive
cars, final salary pensions, medical cover and
bonuses
Cars wanted by 16-24 year olds and managers
Private medical insurance wanted by those aged
55
Public sector workers say they would like bonuses
Base All employees not receiving these benefits
8
Dream benefits
9
What benefits would employees like in an ideal
world?Employees would like to be at work for
less of the time!
Sabbaticals popular among managers and those in
professional roles
Profit share popular among those in
manufacturing, skilled manual workers and
sales/service staff
16-24 year olds would like sports cars and free
in house bar
Base All employees
10
What keeps employees loyal?
11
What factors make you stay with your current
employer?Benefits have less of a role to play in
retention than factors such as job satisfaction
Base All employees
12
What will improve employees morale and
motivation?
13
What will improve employees morale and
motivation?Better remuneration is said to be
main motivator
Base All employees
14
Which might attract them to another employer?
15
What factors might attract employees to another
employer?Money is important when attracting new
staff
Base All employees
16
Pensions
17
How secure do people feel about income on
retirement?Four in ten with occupational scheme
are not worried, as it is a good scheme
Base All employees in occupational scheme (392)
18
Why are employees not in an occupational
scheme?Many employees believe that they are not
offered the option
Base All employees not in scheme (380)
19
Summary points
20
In Summary
  • Final salary pension schemes, bonuses, flexible
    working and holidays are employees favourite
    benefits. Six week holidays and sabbaticals are
    benefits they would like in an ideal world.
  • This emphasis on time off is perhaps a reflection
    of the long hours culture in Britain.
  • Even those with occupational pensions, one of the
    most valued benefits, have concerns about
    security of income.
  • There are marked differences in attitudes to
    benefits depending on peoples lifestyles and
    occupation.
  • So, if organisations are to get maximum return on
    investment they need to tailor their packages to
    suit their workforce. One size wont fit all.

21
What benefits do employees really want?
  • Presented byCynthia Pinto, TNS
  • October 2006
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