More than a fifth (22%) of respondents would consider changing jobs just to get a superior benefits package, according to research by employee-paid benefits provider Benni.
Its War for talent report, which surveyed more than 2,000 UK employees, also found that 42% of respondents utilise employee benefits that are paid for entirely by their employer, while 6% pay for benefits themselves and 38% claim that they receive no benefits at all.
More than a quarter (26%) of respondents aged between 23 and 37 stated that they have either left or thought about leaving a job solely because of the benefits package on offer; 11% of those aged between 55 and 73 agreed with this statement. In addition, 24% of those in the younger group and 17% of older respondents believe that they would consider quitting their job if they discovered that a peer was getting better benefits elsewhere.
Almost two in 10 (16%) UK employees identified the benefits package as one of their top three factors in choosing their current role; 66% stated that they receive some form of benefits and perks at work. In terms of generations, 73% of those aged under 22 state they receive benefits, compared to 44% of those older than 55.
The research further found a link between benefits provision and salary, revealing that 42% of those earning between £15,000 and £25,000 a year receive employee benefits versus 81% of employees that earn between £45,001 and £55,000 a year.
More than four-fifths (82%) cited the belief that larger organisations offer a broader range of benefits compared to a smaller business.
Kyle Addy, voluntary benefits director at Benni, said: “In the current jobs landscape, businesses of all sizes need to be aware that even happy employees can be tempted to jump ship for a better benefits package. This attitude appears to be particularly prevalent among younger [employees] who have grown up in a period of increased job mobility and are very conscious of their market value.
“Given the wide range of benefits and perks available, many employers may be left feeling they’re simply not able to compete. So, it’s encouraging to see that so many employees are prepared to make a contribution towards the cost of valued benefits like health insurance. Almost one in five (18%) of our sample already fund, or part fund the benefits they receive, so split payment options are worth considering as part of an attractive benefits strategy.”
