New Model Reward Research: Focus on employee benefits could increase by 2025

Reward emphasis could change significantly by 2025, according to New Model Reward 2017, a research report produced by REBA in association with JLT Employee Benefits.

The report showed that three-quarters (76.5%) of respondents believe there will be an increased focus on employee benefits by 2025, whilst two in three (68.3%) expect to see increased focus on employer contributions towards employee retirement savings.

Only a third (33%) believe base pay will be the subject of greater focus and just over half (55.9%) think variable pay will see an increased focus, according to the report.

But there are other changes that will affect reward make-up too – such as the removal of tax and NI savings for salary sacrifices and demographic changes.

“What employees are demanding is changing, and employers cannot afford to respond by simply paying more cash,” said Debi O’Donovan, director at REBA. “Our research shows that there will likely be a noticaeable move away from pay and on to benefits – something that employers must be ready to deal with.”

Download the full 46-page PDF report here: New Model Reward research 2017. REBA members access the research for free.

For further in-depth discussion of this topic with senior HR and reward professionals, sign up for REBA's Reward Leaders' Forum on 27 April 2017. REBA Members can attend for free.