47% of businesses do not offer any employee benefits

47% of businesses offer no employee benefits

Just under half (47%) of employers currently offer no employee benefits to their workforce, according to research by Hooray Health and Protection.

Its research, which surveyed 1,150 respondents, also found that non-monetary benefits are the most popular benefit offered by employers, with 16% of employees receiving this benefit, followed by health insurance (15%).

Additionally, respondents cited income protection as the most desirable benefit (24%), however, only 6% of respondents currently receive this. Furthermore, two in five (22%) would like to receive health insurance, with only half (11%) of respondents receiving this benefit.

Just under one-third (31%) of employees are happy or extremely happy with the benefits they receive. However, just over two-thirds (64%) of front-line employees are not receiving any benefits whatsoever.

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Sammy Rubin, chief executive at Yulife, said: “During these uncertain times, most businesses are conducting a comprehensive review into all aspects of their expenses. With a significant shift in working practices, and the necessity of working from home, businesses are also wondering how they can demonstrate care for their employees, boost morale and maintain high levels of productivity.

“Employers are naturally asking: What steps can I take to boost employee morale? Which benefits are actually valued by my employees? Which benefits have the longest-lasting impact? And crucially, what benefits demonstrate the highest degree of care and support.”