Employers to keep investing in staff benefits
10th December 2018
Most employers plan to continue their investment in workplace benefits, according to research by the Chartered Institute of Personnel and Development (CIPD).
A survey of 568 human resources practitioners found that 97% of organisations intend to maintain or increase expenditure on employee benefits in the next two years.
Businesses plan to increase investment in areas such as professional development (43%), health and well-being (29%), and financial benefits (25%).
Additionally, 17% of employers say they expect to invest in a formal work-life policy in 2019, including benefits like flexible working and shared parental leave arrangements.
The survey found that in 2018, the five most popular benefits across all sectors were:
- pension schemes (trust or contract-based)
- paid leave for bereavement
- training and career development
- childcare vouchers
- occupational sick pay.
Charles Cotton, senior reward and performance adviser at the CIPD, said:
"Despite the recent economic and political uncertainty, employers are committed to investing in their employees and their future.
"It's encouraging to see the benefits that have been earmarked for further spend in the near future relate to people development and well-being.
"Spending in these areas can help to improve employee, and ultimately, corporate performance."
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