Two-thirds (67%) of employers are uncertain which benefits are most valued by their employees, according to research by Howden Employee Benefits.
Its Employee benefits and wellbeing in Scotland report, which is based on a survey of more than 100 HR professionals and business leaders, also found that a fifth of respondents offer private medical insurance (PMI) to provide timely healthcare access, reduce strain on the NHS and boost employee productivity and satisfaction.
Three-quarters (76%) lack sufficient mental health support, with only 23% offering comprehensive services. Just 36% acknowledged the need for enhanced mental health initiatives.
Meanwhile, 46% of respondents doubt the effectiveness of their workplace pension schemes, with 26% concerned that employees are not saving enough for retirement and 41% not offering a salary sacrifice option for pension contributions.
While 28% said they offer discount sites to help employees manage daily expenses, only 6% identified financial wellbeing programmes as a critical area for improvement.
Saba Haran, employee benefits director Scotland at Howden, said: “With ongoing pressures on the NHS and a national cost-of-living crisis, prioritising employee health and wellbeing has never been more important. Employers need to adopt a strategic and employee-centric approach to their benefits provision and review their existing benefits to meet their employees’ needs and deliver business value.
“Greater pensions engagement and education could help employees to maximise their pension savings and have a more comfortable retirement. Prioritising comprehensive health and wellbeing support is now paramount. Businesses struggling financially to increase benefits can consider affordable ways to support employees. Prioritising virtual GPs or health cash plan schemes can offer cost-effective solutions for addressing employees’ healthcare needs without breaking the bank. Employees also need to be aware of the value-added benefits already available within their existing policies and use them.”
