48% feel benefits package is not tailored to their needs

benefits 430

Almost half (48%) of respondents feel that their current employee benefits package is not tailored to meet their needs, according to research by Salary Finance.

Its survey of 1,000 UK employees, released in line with the Smarter Working Day initiative (25 July 2016), also found that 38% of respondents have access to flexible-working arrangements.

The research also found:

  • 26% of respondents prefer flexible-working initiatives to financial and psychological wellbeing benefits.
  • Less than a fifth (19%) of respondents have access to benefits that support their mental wellbeing, such as counselling services.
  • More than half (58%) of respondents have never been asked for feedback on their benefits package by their employer.
  • 26% of respondents receive financial wellbeing support from their employer.
  • 32% of respondents receive ad hoc incentives such as free lunches, birthday cakes and duvet days.

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Asesh Sarkar, chief executive officer at Salary Finance, said: “Employers have increasingly realised their responsibility to support their employees in many ways, including providing access to remote working opportunities and occasional free, healthy lunches. These proactive incentives are of course to be welcomed.

“To make sure employees feel as supported as possible, financial wellbeing should also be factored into employers’ benefits packages. By offering financial education [in] their benefits this will enable employees to safeguard their financial futures and ensure they’re as happy and productive at work as they can be.”