More than a quarter (28%) of respondents value additional holiday days, sabbaticals and flexible working hours as employee benefits, over receiving a pay rise, according to research by SmallBusinessPrices.co.uk.
Its survey of 2,000 UK employees also found that 29% of respondents aged between 18 and 24 would consider applying for a job if they were to receive a £4,000 housing contribution as an employee benefit, compared to 15% of respondents aged between 53 and 60 who would do the same.
The research also found:
- 20% of respondents currently receive an employee discount as a benefit, however only 11% want this within their employee benefits package.
- 11% of respondents aged between 18 and 24, and 11% of respondents aged between 24 and 38, agree that they would consider applying for a job if one year's parental leave was included as an employee benefit. Only 3% of respondents aged 39 to 52 saw this as an important benefit.
- 49% of respondents aged between 39 and 60 view health insurance and death-in-service as a job perk, compared with 20% of those aged between 18 and 38.
- 18% of male respondents are very happy with the employee benefits they receive, compared with 14% of female respondents.
- 16% of respondents would rather have access to transport benefits than receive a pay rise, and 6% of respondents currently receive travel and company car benefits.
- 3% of respondents would prefer to receive training over a pay increase, and 12% currently receive training as an employee benefit.
Ian Wright (pictured), spokesperson at Small Business Prices, said: “Job perks are taking the stage as an increasingly important factor in people’s career choices, which is why some employers are raising the bar and even going beyond the standard travelcard loans, [bikes-for-work] schemes flexible working times and health insurance benefits. The right perks and benefits can improve a workforce's happiness, boost productivity as well as attract the right employees.”
