The CIPD's fifteenth reward management survey, produced in partnership with LCP, explores which benefits employers in the UK offer to whom and why; how benefits packages are provided; and how they are communicated and evaluated.
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The 2018 Reward Management report, based on a survey of 570 HR professionals and insights from a group of senior HR professionals brought together to discuss the issues raised, found that the vast majority of employers plan to maintain or increase their spend on employee benefits over the next two years.
However, one in six organisations does not communicate with employees about the benefits available to them and one in five report that benefits are not easily accessible. What’s more, only a quarter of respondents say they evaluate their return on investment in benefits.
Download the report, appendices and infographic below:
Summary of key findings
8 in 10 employers (81%) intend to spend the same amount on staff benefits over the next two years as they currently do, while nearly 1 in 5 (16%) plan to increase their investment.
Impact of benefits
3 in 4 employers don’t review the impact staff benefits have on individuals or the business
Choice of benefits
42% of organisations offer employees some degree of choice over the benefits they receive
Worklife balance policy
1 in 5 employers (17%) expect to invest in a formal work-life balance policy within the next year
Communication of benefits
1 in 6 employers don’t communicate about benefits with staff
- Professional development (including secondments, mentoring programmes and business apprenticeships) is the area of benefits most likely to attract additional spending in the next two years. This is followed by health and well-being benefits (such as employee assistance programmes) and financial benefits (such as pension schemes or debt advice).
- The main internal drivers of benefit provision are to attract, recruit and retain employees, while the most common external influences include legal and employment obligations.
- Few employers plan to introduce new benefits next year, but where changes are planned, the provision of employee diversity networks to promote workplace inclusion is the most popular.
- The survey finds that currently the ten most popular benefits offered to all employees are:
- Pension scheme - trust or contract-based
- Paid leave for bereavement
- Training and career development
- Childcare vouchers
- Occupational sick pay
- Employee assistance programme
- Christmas party and/or lunch
- Free tea and coffee
- 25 days or more paid leave for full-time employees
- Paid leave for jury service.
- Activity tracker
- Company choir
- Fertility treatment
- Home rental deposit assistance
- Lifetime ISA
- On-site nap rooms
- Paid leave to adopt a pet
- Personal fitness trainer
- University fees repaid by employer
- Unlimited leave
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