Two-fifths (43%) of UK employees are unaware of all the benefits available through their employer, according to research by Fidelity International.
Its Global sentiment survey, which tracked the views of more than 38,000 working adults across 35 global markets, including 1,000 in the UK, also found a manageable workload (86%), stability and job security (86%) and a good work-life balance (86%) were the most valued benefits according to respondents. These were followed by leave policies (83%), positive relationships with managers (82%) and colleagues (81%), and meaningful or fulfilling work (78%).
Benefits such as a workplace pension (73%) and competitive base compensation package (62%) were both cited as important factors for choosing to remain in a job.
Despite the value placed on these, only 57% of all respondents said they are aware of the full list of benefits their employer offers, and 46% of those who consider themselves to be very satisfied at work have an understanding of the benefits their employer offers.
In contrast, satisfaction falls among those who are unaware (25%) or unsure (26%) of what is available.
Daniel Smith, head of workplace investing distribution at Fidelity International, said: “Employers today are offering more support than ever, from financial wellbeing tools and pensions guidance to benefits that promote work-life balance, career fulfilment and long‑term security. However, our research indicates that many employees simply don’t realise what’s available to them.
“There is a clear opportunity for employers and providers to work together to reframe and communicate workplace benefits so they resonate with a modern workforce. Improving engagement can help employees to feel more confident and supported, while ensuring employers get the full value from the programmes they are investing in. By improving awareness and simplifying the experience, employers can maximise the return on their benefits investment while helping their people build confidence, resilience and a stronger financial future.”
