More than a third (35%) of respondents say the benefits they are offered at work in addition to salary and holiday entitlement have increased their loyalty to their employer, according to research by MetLife Employee Benefits.
Its research, which surveyed nearly 1,000 employees, also found that a third (33%) of respondents say the benefits offered make them feel valued.
Younger members of staff are the most likely to stay in their jobs because of the employee benefits offered, with 58% of 18 to 24-year-old respondents saying additional benefits boost their loyalty.
The benefits package on offer also makes 56% of 18 to 24-year-old respondents feel valued.
However, the research found that employers could improve their communication of employee benefits packages, just 23% of respondents said they were satisfied with communication from their employers compared with 45% who are dissatisfied.
Tom Gaynor (pictured), employee benefits director at MetLife, said: “There is clear evidence that employee benefits, when they are communicated well, can help with employees’ emotional or psychological contract with their employer.
“Employee loyalty matters because it helps create a stable base for employers. This is of significant value for employers, many of whom are navigating through a lot of change right now.”
“Improved communication is vital, however, to ensure staff are aware of and understand what’s being provided. This is where advisers and employee benefit consultants have an important role to play, demonstrating their experience and expertise in designing benefits packages.”