In a positive shift for employee support, 43% of employers plan to increase their investment in employee benefits within the next year.
- There is a concern that 37% of employers may fund benefits directly, potentially leading to inconsistencies and inequalities.
- 44% of employers aim to expand benefits to more staff, promoting equal access across roles and hierarchies.
- Improving communication about available benefits is crucial, with 43% focusing on encouraging better engagement.
- Effective communication is key, as many employees do not use benefits until necessary, risking missed opportunities.
A recent survey highlights a positive trend in employee support as 43% of employers intend to boost their investment in employee benefits over the coming year. This move reflects the growing recognition of the importance of supporting staff, with industry body GRiD underscoring the preparedness of businesses to finance such initiatives.
However, there is an emerging concern regarding the method of funding. A notable 37% of employers are considering direct funding of benefits, which can lead to disparities in benefit provision. GRiD warns that a more effective approach would be through established benefits providers, where consistency and equality in service can be assured, preventing inadvertent inequalities among employees.
Further findings from the research indicate that 44% of employers are keen to extend benefits coverage to a larger portion of their workforce. This is aligned with the understanding that health challenges do not prefer certain job roles, and equitable support should be available to all employees, irrespective of their position within the company.
Moreover, comprehensive benefits packages play a pivotal role in reducing staff turnover. By ensuring that employees are both content and healthy, organisations can benefit from improved retention rates and enhanced productivity. This dual advantage underlines the mutual benefits of enriched support for both employers and employees.
Communication remains a crucial driver of benefit utilisation. Over the next year, 43% of employers plan to encourage more engagement with the benefits offered. In parallel, 40% intend to simplify access through digital platforms, while another 40% focus on increasing awareness. Regular and targeted communication is crucial to ensure employees are aware of available resources, especially when they are most needed.
Katharine Moxham, spokesperson for GRiD, remarked that the future of employee support looks promising based on recent findings. She advised employers to seek guidance from experts in order to maintain competitiveness and ensure their support strategies are effective and wisely funded.
The survey by Opinium, conducted among 500 HR decision-makers in January 2024, offers a promising outlook for employee benefits in the UK, emphasising the need for strategic investment and effective communication.
