18% plan to introduce new employee benefits in 2017

Almost a fifth (18%) of respondents plan to introduce new employee benefits in 2017, according to research by Secondsight.

Its survey of 250 UK-based HR directors and managers at organisations with 50-5,000 employees, also found that just 5% of respondents intend to remove benefits in 2017.

The research also found:

  • 95% of respondents will see their benefits budget rise in 2017.
  • 53% of respondents offer employee benefits because they want to look after their employees, 44% use employee benefits as a recruitment tool, and 42% provide employee benefits because they believe they are good for their employees’ wellbeing.
  • 55% of respondents provide employees with access to a wellbeing programme.
  • 29% of respondents would like to offer financial education in 2017, 49% would like to introduce mental health first aid benefits, and 34% plan to implement some form of critical illness or medical insurance this year.
  • 62% of respondents expect the decision to leave the European Union (EU) to impact their HR strategy, and 39% believe that Brexit will make it more difficult to recruit the right people.

Ian Bird (pictured), director of business development at Secondsight, said: “The wellbeing agenda is gaining momentum, with employers taking a broader view when it comes to employee wellbeing; it seems there’s a real focus not only on the more traditional wellbeing, but also now on financial wellbeing and mental wellbeing.

“Uncertainty is going to make HR’s life more difficult. However, in spite of the times that we live in, it is encouraging to see employers investing in the future of their employees through the benefits package.

“While almost all employers questioned will see a budget rise in 2017, increased costs and the impact of Brexit will have wider ramifications on the HR strategy going forward, which we will need to consider.”