Isio insights: Maximising value from employee benefits
This research from Isio, undertaken in conjunction with YouGov, reveals eye-opening insight into the UK workforce’s attitudes towards work, finances, moving jobs and employee benefits. It aims to help employers, particularly senior HR leaders, understand how their organisations can maximise value from their benefits packages and even harness the benefit package to address staff turnover challenges.
The research surveyed more than 7,500 UK employees from the private sector. The findings may challenge some long-held views about the best way to design and operate employee benefits. The sheer size of the sample means that the data can be considered by industry, geography, ethnicity, religion, education, disability, sexuality, home ownership, even the number of children in a household.
The result gives a comprehensive look into what’s working in employee benefits, who it’s working for, and whether the design of the benefit package is providing poor value for some (or even unintentionally discriminating against) certain groups of employees. The data also offers insight into the types of people who are most likely to be looking for a new job in the next year and how best to address that staff churn through maximising the value of their employee benefits.
Themes that are emerging from the data are an increased demand for flexibility from employees and, somewhat surprisingly given much recent focus on diversity, there are results that lead to challenging conclusions when analysed by ethnicity.
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