EMPLOYEE BENEFITS
Research reminds employers to align employee benefits with business objectives
Employers must ensure they are not inadvertently encouraging the wrong behaviours or retaining poorly performing individuals with badly structured benefits, warns Capita Employee Benefits.
Research by Capita Employee Benefits shows that:
The findings are based on a survey of over 3,000 UK workers in full- or part-time employment and results were fairly consistent regardless of respondents’ gender, age or region.
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A final word
“The findings cement the view that employee benefits are critical for attracting and retaining employees. But, arrangements that are not aligned to business objectives are not only costly but can also result in an employer inadvertently retaining unproductive employees. Time off in lieu is another arrangement that is open to misinterpretation and would benefit from more consideration by some employers.
“Other areas are already under scrutiny – for example, mechanisms such as clawback and caps are now being implemented to ensure performance bonuses drive sustainable results rather than encouraging risk taking for short-term gain. There’s still scope for improving the alignment of other benefits and arrangements to ensure they are serving the top talent that the business needs to compete and innovate in the long term.” - David Tildesley, director at Capita Employee Benefits.
Want to know more?
Capita Employee Benefits is part of Capita plc, a FTSE 100 company. In April 2012, Capita Hartshead and Bluefin Corporate Consulting merged to form Capita Employee Benefits, which provides pensions and employee benefits solutions with a focus on administration, technology and consultancy. Its workforce comprises 2,400 employees operating from 24 locations across the UK and Ireland. For more information visit www.capitaemployeebenefits.co.uk.