Education sector values death-in-service benefits

Two-thirds (66%) of respondents said death in service was the most highly valued benefit in the education sector, according to research by JLT Employee Benefits.

Its 2012/13 Survey of employee benefit trends in the tertiary education sector, which polled employers from 73 universities and colleges, found that 25% of respondents said income protection would have a similar value among their employees, although none were aware whether it was offered or not.

The research also found that critical illness insurance was only offered by 9% of respondents, but 31% believed it had a high perceived value by their employees.

It also found:

  • Despite being offered by more than 40% of respondents, only 9% gave employee assistance programmes (EAPs) the highest score for perceived value.
  • 30% of respondents wanted health screening added to the list of benefits offered to their employees.
  • 18% of respondents would like dental plans added to their benefits package.

John Pascoe, a consultant at JLT Employee Benefits, said: “The lack of income protection and critical illness [cover] offered to employees is a real surprise to me.

“While pay, holiday and pensions will be at the forefront of most employees’ minds, if there is an appetite for other benefits they need to be considered because the tertiary sector is just as competitive when it comes to recruiting and retaining key staff.”