{"id":35568,"date":"2024-09-06T07:32:23","date_gmt":"2024-09-06T07:32:23","guid":{"rendered":"https:\/\/www.intoo.com\/uk\/?p=35568"},"modified":"2024-09-06T14:34:04","modified_gmt":"2024-09-06T14:34:04","slug":"80-fail-to-fully-utilise-workplace-benefits","status":"publish","type":"post","link":"https:\/\/www.intoo.com\/uk\/80-fail-to-fully-utilise-workplace-benefits\/","title":{"rendered":"80% fail to fully utilise workplace benefits"},"content":{"rendered":"<div><\/div>\n<p><span><strong>A striking 80 percent of professionals in the UK and Ireland do not take full advantage of the workplace benefits available to them, according to recent research from talent solutions firm Robert Walters.<\/strong> <\/span><\/p>\n<p>The findings, which form part of the upcoming 2024 Benefits Guide, reveal a growing disconnect between employers and their staff regarding benefits utilisation and satisfaction.<\/p>\n<div class=\"hrrev-in-post hrrev-target\" id=\"hrrev-2009611036\" data-hrrev-trackid=\"136738\" data-hrrev-trackbid=\"1\">\n<div id=\"gpt-ad-3266964819951-0\">\n<\/div>\n<\/div>\n<p>The survey of 3,000 professionals underscores a significant issue: while workplace benefits are viewed as essential to employee loyalty, satisfaction, and productivity, many employees feel they are not getting the most out of their benefits packages.<\/p>\n<p>A notable 35 percent of respondents expressed dissatisfaction with their overall benefits plan.<\/p>\n<h2><strong>Communications Falling Short<\/strong><\/h2>\n<p>A key issue highlighted in the research is the lack of effective communication around benefits. Only half of professionals feel satisfied with how their employer communicates the details of their benefits, which range from financial perks like pension contributions and annual bonuses to wellbeing initiatives such as <a href=\"https:\/\/www.nhs.uk\/nhs-services\/mental-health-services\/where-to-get-urgent-help-for-mental-health\/\">mental health support<\/a> and private health insurance.<\/p>\n<p>Chris Eldridge, CEO of Robert Walters UK and Ireland, warns that poor communication could have serious repercussions for employee engagement and retention. \u201cEmployers\u2019 failure to communicate or offer attractive benefits could impact their ability to attract and retain talent, as well as reduce employees\u2019 overall productivity and engagement,\u201d he said.<\/p>\n<p>Additionally, only 21 percent of employers surveyed claim to fully understand what benefits matter most to their employees. This disconnect suggests that many organisations may be offering benefits that do not align with their workforce\u2019s needs.<\/p>\n<h2><strong>The Importance of Benefits in Retention<\/strong><\/h2>\n<p>The research reveals that more than half of professionals (54) believe the benefits offered by their employer are a critical factor in their loyalty and <a href=\"https:\/\/hrreview.co.uk\/hr-news\/reward-news\/generation-ai-new-wave-of-workers-adopt-generative-ai-in-pursuit-of-greater-job-satisfaction\/373017\">satisfaction<\/a> with their job. Furthermore, 41 percent report that workplace benefits positively contribute to their work-life balance.<\/p>\n<p>However, despite the clear link between benefits and employee retention, only 45 percent of professionals report being satisfied with their benefits package. Eldridge noted the potential impact on retention: \u201cIt\u2019s concerning that less than half of professionals are satisfied with their benefits package, given its clear influence on loyalty and the willingness to stay with a company.\u201d<\/p>\n<p>Some professionals indicated that they would even consider switching jobs for a role offering a better financial benefits package, even if it came with a lower base salary.<\/p>\n<h2><strong>Maximising Employee Happiness and Performance<\/strong><\/h2>\n<p>The survey also found that nearly a third of professionals agreed that their employer\u2019s benefits have a positive impact on their job performance and productivity. However, with a significant portion of the workforce not fully utilising these benefits, employers may be missing out on opportunities to drive better outcomes.<\/p>\n<p>Eldridge emphasised that benefits are an integral part of a successful remuneration package. \u201cNeglecting benefits or failing to invest in impactful options can hurt not just employee satisfaction but overall business performance,\u201d he said.<\/p>\n<h2><strong>How Employers Can Improve Benefits Packages<\/strong><\/h2>\n<p>To address the gap between the benefits offered and those that employees value, Eldridge outlined four key strategies employers can adopt:<\/p>\n<ol>\n<li><strong>Clarify Offerings<\/strong> \u2013 Employers must clearly communicate the details of benefits, especially complex financial offerings like pensions or stock options, which can have a significant long-term impact on employees.<\/li>\n<li><strong>Leverage Employee Feedback<\/strong> \u2013 Gathering insights from employees about what benefits they find valuable can help employers refine their packages to better meet workforce needs.<\/li>\n<li><strong>Measure Success<\/strong> \u2013 Regular polls and checks can help employers assess the effectiveness of their benefits and make improvements as needed.<\/li>\n<li><strong>Customise Benefits<\/strong> \u2013 Offering customisable benefits that allow employees to tailor their packages to their personal circumstances can increase satisfaction and engagement.<\/li>\n<\/ol>\n<p>As workplace expectations evolve, companies that invest in understanding and improving their benefits offerings will be better positioned to attract, retain, and engage top talent.<\/p>\n<p><!-- MOLONGUI AUTHORSHIP PLUGIN 4.9.6 --><br \/>\n<!-- https:\/\/www.molongui.com\/wordpress-plugin-post-authors --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A striking 80 percent of professionals in the UK and Ireland do not take full advantage of the workplace benefits available to them, according to recent research from talent solutions firm Robert Walters. The findings, which form part of the upcoming 2024 Benefits Guide, reveal a growing disconnect between employers and their staff regarding benefits [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":35506,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[163],"tags":[],"class_list":["post-35568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-recommended-reading"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>80% fail to fully utilise workplace benefits - INTOO UK &amp; Ireland<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hrreview.co.uk\/hr-news\/reward-news\/80-fail-to-fully-utilise-workplace-benefits\/376543\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"80% fail to fully utilise workplace benefits - INTOO UK &amp; Ireland\" \/>\n<meta property=\"og:description\" content=\"A striking 80 percent of professionals in the UK and Ireland do not take full advantage of the workplace benefits available to them, according to recent research from talent solutions firm Robert Walters. 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