Employers are investing in offering more perks and benefits to their team, but their efforts are largely going unnoticed.
According to research by Benifex, two-thirds (66%) of employers have expanded their benefits offering in the last year.
But many employees don’t seem to be aware.
In fact, less than one in three (29%) employees say their boss has enhanced their offering during this time.
And almost half (48%) think it’s stayed broadly the same.
What’s the problem?
While employers are investing more heavily in perks and benefits, employees aren’t feeling the impact firsthand.
So it seems there's some unclear messaging going on.
Part of the issue is that almost half (47%) find it hard to access and understand the full value of the perks on offer.
Meanwhile, only a relatively small number feel the benefits have improved their lives.
For example, just 31% said they feel more able to achieve a good work-life balance, and only 26% think it’s made them more productive work.
Meanwhile, less than a quarter (23%) said perks offered by their employer make them feel more positive or engaged about work.
What can HR do?
The specific perks and benefits being offered isn’t necessarily the issue.
Instead, it seems that people don’t think they’re being communicated in a clear and accessible way, and that they’re not always relevant to their lives.
So HR bosses could get better returns on their investment if they make benefits easier to find and understand and measure the real-world impact they’re having on the workforce.
By making perks simpler for people to access, and measuring the difference that they’re making, HR teams will be in a much better position to make a business case for having them available.
And the whole business will benefit if they have real, positive, tangible impacts on your colleagues, such as improved retention and higher morale.
“Employers are investing in benefits and wellbeing with genuine intent,” said Gethin Nadin, chief innovation officer at Benifex.
“But investment that employees can’t find, access or connect to their own lives may as well not exist.
“It doesn’t matter how generous the offering is if it isn’t reaching people.”
Written by James Glynn
Senior Financial Content Writer