EMPLOYEE BENEFITS
Financial services workers favour return to traditional benefits
Employees in the financial services industry are not interested in some of the dazzling new perks on offer, such as stress counselling or dress down days, according to a survey by specialist recruiters Joslin Rowe. What they really want is a return to the traditional benefits once widely available.
Joslin Rowe polled over 400 London-based professionals in the financial and professional services sector. The statistics gathered show that most of the more traditional benefit programme components — such as healthcare, contributory pension, company car and subsidised mortgage — were highly valued by employees. Flexible benefits and flexitime were also popular.
Newer perks less popular
But there was a fairly low level of appreciation for some of the newer elements of the benefits package. More than half of respondents had a dress down day, whereas 16% saw it as a valuable benefit. Stress counselling was offered to a fifth of those surveyed — yet just (3%) saw it as valued.
| What benefits do you receive? | What benefits do you value? | |
| Healthcare | 56% | 62% |
| Flexible benefits | 17% | 51% |
| Contributory pension | 46% | 49% |
| Mortgage | 13% | 43% |
| Subsidised lunch | 31% | 42% |
| Flexitime | 18% | 42% |
| Share scheme | 25% | 38% |
| Life assurance | 47% | 38% |
| Gym | 32% | 36% |
| Work from home | 20% | 35% |
| Car/pool car | 18% | 35% |
| Overtime | 20% | 33% |
| In-house doctor/dentist | 12% | 29% |
| Non-contributory pension | 25% | 26% |
| Travel | 22% | 25% |
| Travel insurance | 21% | 16% |
| Dress down | 55% | 16% |
| Childcare | 1% | 13% |
| Credit card | 14% | 7% |
| Stress counselling | 20% | 3% |
| Other | 3% | 3% |
A final word
The survey reveals that understanding the market is important and communication is the key. Employee benefits are an excellent tool for retaining staff and showing that an organisation cares about an employee, but it is clear that companies aren’ t offering staff what they want. — Tara Ricks, managing director, Joslin Rowe.
Want to know more?
Title: The Joslin Rowe Employee Benefits Survey.
Availability: Contact Sam Philpott, PR manager, Blomfield Group, tel: 020 7786 6907, email: samphilpott@blomfieldgroup.com.
To read the press release online visit . . .
www.joslinrowe.com/about/marketnews.php?task=article& catid=13& artid=91
Joslin Rowe is part of the Blomfield Group and originally focused on recruitment for the financial services sector. It has now diversified outside of the financial sector within the core disciplines of human resources, marketing, secretarial and finance. To find out more, visit . . .
Posted 1 March 2002