71% of workers value other perks over pensions

Almost three-quarters (71%) of UK workers value office drinks, travel schemes, flexible hours and other perks over pensions, according to new data.

Research from e-bike subscription service Dash Rides and Sapio with 2,013 UK workers showed that despite this, employees still rate a pension provision in their top four benefits, along with bonus or profit-related reward schemes, flexi-hours, and mental health and wellbeing support.

Over a third (34%) consider a benefits package to be one of the most important factors when choosing an employer to work for, and 71% rated perks that can be easily accessed such as office drinks and social events above traditional pension schemes.

More than four-fifths (82%) would like their employer to use Covid-19 (Coronavirus) as a catalyst to revamp their employee benefits and perks, such as introducing travel or bikes-for-work schemes, as a quarter (23%) highlighted transport and travel schemes such as bikes-for-work among their top three must-have benefits.

Furthermore, 71% believe their organisation’s remunerations package is outdated, and 85% are demanding benefits that are more lifestyle orientated and focused on wellbeing. Only 39% said that their current benefits are easy to access.

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Jamie Milroy, co-founder and CEO at Dash Rides, commented that employees have described the past 18 months as the most stressful in their careers, as the pandemic has not only amplified financial stress, as well as mental and physical strain, but resulted in staff working longer hours than ever before.

“Attitudes around work have fundamentally changed and as we begin to build a new normal in our working lives, employees are placing a higher value on workplace benefits that address these challenges. Perks and benefits that are both easily and immediately accessible and help contribute to healthier, more fulfilling and sustainable lifestyles will be increasingly important as we rebuild post Covid,” he said.