The motoring and automotive sector has been named the UK’s best industry for employee benefits, according to new research by sharetech platform Vestd.
For its Employee benefits index, the platform analysed more than 130,000 job listings across over 30 industries to assess the availability of 20 employee benefits. To create the rankings, each industry was given a weighted score of 100 based on the percentage of jobs that had each benefit. This was totalled up to give an index score out of 2,000.
It found that the most common benefits offered across UK industries to attract talent were bonuses, which were offered in 22% of listings, and flexible working (20%).
Meanwhile, the motoring and automotive sector had a score of 704. The customer service sector ranked second, with a score of 671. Attractive benefits on offer were bikes-for-work schemes (11.6%), life insurance (7.5%) and company cars (7.3%). Just 3% of firms within the sector provided employee share schemes, and 0.05% offered profit sharing.
Hospitality and catering was the third best sector, with a score of 660, followed by security and safety (651) and social care (639).
At the other end of the index was the scientific sector, with a score of 210, followed by media, digital, and creative (215).
Ifty Nasir, founder and chief executive officer of Vestd, said: “Despite growing awareness of the importance of employee benefits, too many organisations still view benefit packages as a cost hit rather than a strategic investment. But when you consider the return on investment of a well-designed employee benefits package, chiefly in improving retention and employee engagement, the financial need is clear.
“It is great to see customer service businesses are utilising employee benefits to attract and retain specialist talent by successfully offering more progressive workplace perks. However, with our Employee benefits index showing that sectors offering long-term incentives also outperformed in overall benefits, the sector still has significant room for improvement in long-term incentive offerings.”
