Company benefit packages has persuaded 10.8m people to accept a new job role, according to new research from Canada Life.
It found that around a third of UK workers said that competitive benefits, perks or a company policy had helped them decide to take up a job offer.
Almost half (44 per cent) of those who have moved jobs in the last five years said they had looked up a prospective employer on review sites like Glassdoor. Of those that sought further information more than one in five (22 per cent) looked up information on company benefits.
However most of those looking at this information wanting further details on salaries (42 per cent), the company’s reputation (34 per cent), its work-life balance (30 per cent) and its culture (26 per cent).
The research also asked employee which benefits and perks were most used or benefitted from in their current job. Around two fifths (41 per cent) said flexible or hybrid working, a third (36 per cent) said their annual leave allowance policy, and 21 per cent said learning allowances.
After joining their most recent company, a fifth (20 per cent) did not receive any information on their company’s benefits and perk packages, and a similar number (19 per cent) said they took matters into their own hands and did their own research via the company’s website, in lieu of official information from their employer.
Canada Life protection sales director Dan Crook says: “Employees are clearly now viewing benefits packages as a deciding factor when thinking about joining a company, staying in a role, or leaving.
“Having competitive benefits packages means nothing if the employer does little to promote them to the employee – prospective or otherwise. It should be a given that new starters receive information on what is available and how to access the various benefits, but ongoing communications are also needed to ensure uptake. Reminding an employee of what is on offer, might just make the difference between someone leaving a role, or staying.
“When communicated effectively, group life, group income protection and group critical illness cover, and the associated support services, are integral elements to any benefits offering.”
