48% rank private medical insurance in their top three most valued benefits

Just under half (48%) of employee respondents rankĀ private medical insuranceĀ in their top three most valued benefits, according to research by Ellipse.

Its survey of 1,005 employees and 504 decision makers in UK-based small and medium enterprises (SME), also found that 37% of employee respondentsĀ placeĀ life insurance in their top three most valued benefits.

The research also found:

  • 31% of employee respondents placeĀ critical illness coverĀ in their top three most valued benefits.
  • 13% of employee respondents listĀ childcare vouchers in their top three most valued benefits, and 8% rank bikes-for-work schemes in their top three most valued benefits.
  • 20% of employer respondents provide private medical insurance to their staff; 20% offer life insurance, and 15% provide critical illness insurance.

Lee Lovett (pictured), chief executive at Ellipse, said: ā€œWith a wide range of different employee benefits now available to employers, itā€™s important to invest in those benefits that employees really value. This survey shows that employees value benefits thatĀ protect their long-term health and provide them with financial security the most.

ā€œThese results, supplemented by an employerā€™s own research, should help to guide their priorities when buying benefits for their staff. There is a clear hierarchy of needs when it comes to employee benefits and this research shows that group risk and healthcare benefits should be the foundation of every benefits programme.ā€