More than two-thirds (67%) of respondents believe that employee benefits would impact their decision to move to a future employer, according to research by Equiniti.
Its The changing landscape of talent management report, which surveyed 3,117 employees, also found that 78% of respondents consider employee benefits to be a quite or very important part of their total remuneration package.
The research also found:
- 41% of respondents under the age of 35 report that benefits had an impact on their decision to join their current employer.
- 86% of respondents under 35 years old believe that employee benefits packages would impact their decision to move jobs in the future.
- 30% of respondents over the age of 45 report that employee benefits influenced their decision to move to their current employer.
Phil Ainsley (pictured), managing director of employee services at Equiniti, said: “A competitive salary is a given when attracting talent but the significance of total reward and benefits in the employee’s decision to join, stay or leave [an organisation] is increasing. Young employees, in particular, are looking for a reward and benefits package which enhances their lifestyle or improves their overall financial wellbeing.
“The challenge facing employers is identifying what truly works; what successfully attracts, motivates and keeps the best people. The HR toolkit has historically suffered from a data gap; having only fragmented and incomplete people analytics reporting available. With increasing pressure at board level to provide demonstrable performance improvements and [return on investment], HR directors will need to consider the workforce as a discrete economy and put solutions in place that take people analytics to the board room in a meaningful way.”