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Most employees do not recognise the value of their benefits package

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52% of employees do not understand the total value of the benefits package their employer provides, according to research from Vebnet and Standard Life.

 

New research shows that over half of employees do not fully grasp the benefits of the package provided by their employer.

 

The research also revealed 25% of 18-24 year olds make no use of the benefits available to them at all.

 

Despite the lack of understanding 64% indicated the employee benefits package was important when choosing a job.

 

Stephen Ingledew at Standard Life says, “Many employers invest a considerable amount of cost and effort in providing a quality benefits package. Unfortunately a significant number of employees are not recognising the value. The research clearly demonstrates the need for employers to review how they engage employees with their benefits. The technology and communications expertise which is now available in the market allows employers to be more innovative than ever before.”

Income protection insurance news: 5 August 2011

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