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Paul Gilshan: Are employee benefits as important as salary?

Employee Benefits

It is quite natural for us to focus on salary. Benefits such as life insurance or disability insurance can provide financial support to employees and their families in the event of unforeseen circumstances. Employee benefits are an important aspect of any job, but can be overlooked when thinking about changing roles.

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Top 7 Employee Benefits and Incentives

Employee Benefits

Employee retention poses a complex challenge that goes beyond merely offering a competitive salary. Workplace Pension A substantial pension plan with generous employer contributions represents one of the most valuable employee perks, ensuring a secure future in an employee’s retirement years.

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The benefits offered by XDesign

Employee Benefits

Benefits on offer at XDesign: Pension and group risk Group personal pension (GPP) plan with salary sacrifice arrangement for all employees. Life insurance. Healthcare and wellbeing Private medical insurance (PMI) scheme, employer-funded for all employees. Money back for dental appointments.

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The benefits offered by Wave

Employee Benefits

The benefits on offer at Wave: Pension A master trust pension scheme for all employees. Group income protection employer-paid for all employees, subject to acceptance by the insurer. Two years paid at half salary at time of acceptance. Age limits are 16 to state pension age. Age limits are 16 to state pension age.

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The benefits offered by Fox Agency

Employee Benefits

Benefits on offer at Fox Agency: Pension Salary sacrifice pension arrangement; employees are automatically enrolled after three months’ service. Life insurance. Private medical insurance for senior leadership scheme, employer paid. Family friendly and work-life balance Flexibility when home working.

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Total Compensation Statement Template: A Powerful Tool for Employers

COMPackage

Salary alone is no longer enough to entice employees. Key Components of a Total Compensation Statement Template A comprehensive total compensation statement typically includes the following elements: Base Salary: This is the fixed annual income. Negotiate effectively: Provide a solid foundation for salary negotiations and discussions.

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How to overcome the disconnect between benefits on offer and what staff really want

Employee Benefits

Michael Page’s Talent trends report , published in August 2024, found over half (56%) of workers highlight this as the biggest factor in creating ongoing job satisfaction, compared to 45% who cited salary. It is a similar proposition with pensions, which for most employers are the biggest benefit cost after salary.

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