News & Events

Workers 'unaware' of benefits value

Date posted:

17th June 2008

A new survey shows employees are unsure how much their work benefits are worth.

The amount of money employers spend on staff benefits is greatly underestimated, according to a new poll.

A survey by Aon Consulting found 98 per cent of Brits have no idea what percentage of their salary is spent on their general welfare and wellbeing at work.

While companies generally contribute between 20 and 40 per cent of wages in additional benefits, over two-thirds of employees put this figure at under ten per cent.

Commenting on the survey's findings, Gareth Ashley-Jones, head of flexible benefits at Aon Consulting, says: "There is a large gap between perception and reality - the research shows clearly that people do not understand the true costs of their perks and suggests that they are taking them for granted."

Among the most common benefits at work are pensions, holiday, private medical insurance and disability income protection.

According to the fifth annual City & Guilds Happiness Index published this month, mental satisfaction rather than financial rewards is the answer to keeping staff content in their jobs.

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