What do employees want in their benefits package?
• Holidays (93%) and pensions (73%) are the most valued. • 16-24 year-olds value company cars, season ticket loans and dental insurance far above any other age group – only 40% thought pensions were important. Jayne Mee, HRD, Barratt Developments PLC, said: “Employees always prefer benefits which they can use straight away. In our sector, bonuses count for a lot more than long-term incentive programmes: people want their ‘jam today’ rather than waiting for an intangible tomorrow.” Remuneration – the great divide? • The most common form of pay rise for UK employees in 2008 will be an inflation-only increase (49% of employers). • 30% of employees of all ages don’t expect a pay rise in 2008. But only 12% of employers foresaw no pay increases in their business. • 84% of HR professionals expect to maintain or grow their remuneration budgets. Only one in a 100 is planning benefits cuts – the only reductions are in businesses with more than 1,000 employees. • London-based businesses are the m
