Align benefits packages with market practice

Develop benefits packages across the business in line with market and employee expectations with this in-depth insight into added value packages.

The Employee Benefits report reviews the benefits offered to employees of organisations that regularly participate in Croner Reward’s regional and national surveys.

Pension provision and income schemes are just two of the topical subjects to be covered in the report.

A wide range of benefits information has been analysed, including:

  • Conditions of Work – including hours of work, shift and call-out payments.
  • Healthcare and Well-being – including health insurance and sick pay.
  • Family Friendly Policies – including maternity and paternity pay.
  • Company Car – including cash allowances.
  • Travel and Subsistence Allowances
  • Allocation of Other Benefits and Allowances – including flexible benefits packages

Conditions of Work includes information on working time regulations, typical working hours per week, part-time and flexible work patterns, holiday entitlement, overtime and other bonus/incentive schemes.

Family Friendly Policies also incorporate flexible working because that can assist parents who may need to leave work early or start late to cater for their children’s needs. Maternity, paternity and adoption leave/pay are also covered, along with parental leave regulations and much more…

Healthcare and Wellbeing covers statutory/occupational sick pay, pension provision, life assurance, other health related benefits, absence management and stress/mental illness policies.

As one of the most popular benefits (from status cars for Senior Executives to job need vehicles for lower job levels), Company Car benefits information has its own section in this report but has also been separated into its own dedicated report that is published every winter and there is an online Car Allowance Calculator that allows cash or salary equivalent values to be calculated in minutes.

Travel and Subsistence Allowances provide details of air and rail travel provisions, such as season ticket loans, commuting allowances and London allowances.

Remaining benefits are analysed in the final section of the report; these are flexible benefits packages, salary sacrifice benefits and employee engagement.

As you can see, the report details a wealth of benefits that UK organisations are currently providing to their staff and this information can be invaluable when it comes to creating your own Employee Benefits Packages.

The employee benefits and rewards data contained in this report comes from the employee benefits survey that we conduct each year – making it an invaluable source of information if you are looking to put together an employee benefits package.  Furthermore, offering an employee benefits scheme can assist your business in a variety of different ways; for instance, one of the main benefits of Employee Benefits to employers is that they are a great incentive to prospective employees.  In addition to the report, as partly an employee benefits company (with over 40 years’ experience), we can also offer consultancy advice on benefits and a range of other topics for reward.

For information on our Employee Benefits Report, contact us using the form at the bottom of this page.

Looking after your employees

Employees can rightly be considered the most important part of any business.  Without staff a business cannot function.  If employees are looked after then they will want to do the best job possible for a company.

An example of a common benefit is flexi-time because a great number of people value the ability to manage their lives beyond the traditional 9 to 5.  Also employees may put protection needs at the top of their benefit wishlist.  They may want PHI for them and their family or assistance with dental care etc. Another consideration may be a pension and how much the organisation contributes for each employee.

Holidays are also important – do employees have time off for Christmas and do they need to use their entitlement?  Do the number of holidays increase with each year of service?  Can more holidays be bought?  Do employees need to work bank holidays and, if so, do they get time off in lieu?

When are salaries reviewed and how are increases calculated?  Are salaries linked to appraisal performance?

Are qualifications offered and paid for by the company?  Does the organisation offer staff loans or help with the mortgage through preferential rates?

These are all questions to consider as part of a review of your employee benefits package. Fortunately, our annual report is packed full of information to help you make informed decisions.

 

The positives of having employee benefits

The positives of employee benefits are different for staff and employers.