More than two thirds (69%) of respondents view perks and benefits as important to their overall satisfaction, according to research by Perkbox.
Its survey of 1,072 UK adults also found that 84% of 18-24 year old respondents and 78% of 25-34 year old respondents would be more likely to stay with their current organisation if it offered better employee benefits.
The research also found:
- 26% of respondents cite the lack of reward and recognition for good work as their main grievance at work.
- 30% of respondents would not describe themselves as happy at work and would move jobs for better benefits.
- 48% of London-based respondents would be likely to switch to a job that offered better benefits.
- 78% of 18-24 year old respondents believe that perks and benefits are either important or very important to their overall satisfaction at work, compared to 58% for respondents aged between 55 and 64 years old.
- 42% of respondents based in Yorkshire and the Humber are unhappy at work, and 80% of respondents in the East Midlands claim to be happy at work.
Saurav Chopra (pictured), chief executive officer and co-founder at Perkbox, said: “Investment in employee health, wellbeing and engagement via perks and benefits is often perceived as a costly, non-critical, ‘nice-to-have’ rather than an intrinsic tool for incentivising, retaining and recruiting talent. Yet most research indicates that while remuneration might instantly gratify and sway potential employees into accepting a job offer, it’s the non-financial factors that come with reward and recognition that engages and retains [employees] in the long run.
“Satisfied [employees] yield dividends in terms of engagement, loyalty and morale. Quite simply, happy teams accomplish great things.”