Health and wellbeing perks top employers’ offering

The employee benefits a business offers can make all the difference when it comes to retaining and attracting staff members, and a new survey has identified which work perks are being offered.

XpertHR’s latest benefits and allowances survey found that nine in 10 (90%) organisations offer counselling or an employee assistance programme (EAP) as part of their reward strategy.

These two options have been the number one benefit provided by UK employers for three years in a row, highlighting the shift of focus towards employee health and wellbeing following the coronavirus pandemic.

For example, separate data shared by Mind revealed that two thirds of adults stated their mental health had declined since the first national lockdown, and 25% of adults said they had experienced mental distress for the first time during the crisis.

Organisations are seemingly responding to this, as pre-pandemic 75% of businesses offered counselling or an EAP, but in the three surveys since, this figure has been at or close to nine in 10.

Other leading benefits cited include life assurance/death in service, which is provided by 82%, as well as payment of employees’ professionals membership fees, which 70% offer.

This is followed by private medical insurance (65%), free car parking (65%), childcare vouchers (64%) and mental health support (62%) among others.

Reflecting on the findings, Sarah Byrne, HR practice editor at XpertHR, explained: “The coronavirus pandemic led many employers to focus on the mental and physical health and wellbeing of their employees, and once again we see this reflected in the benefits packages offered by UK organisations.

“This is a trend that we expect to continue as employees re-evaluate their working lives after the pandemic. In today’s fiercely competitive labour market, a compelling benefits package can give an organisation the edge over rivals, helping it to recruit and retain talent.”

She concluded that as inflation continues to increase, with the latest predictions revealing it could reach 18% next year, the rate will continue to “outstrip pay awards”.

Byrne advised that “benefits that help employees to save money or improve their wellbeing have never been more important”.

A keynote session at the Vulnerability Summit in October will address the cost of living crisis – get your ticket here.