Employees value workplace benefits such as income protection
Wed, 17 Mar 2010
Employees appreciate the support of workplace benefits in the current economic climate, according to new research from Friends Provident .

Results from the provider's Visions of Britain 2020 study urges employers to think twice before reducing these packages as they can be crucial to staff recruitment and retention. It was revealed that over one third (34 per cent) of those surveyed would be prepared to take a pay cut to receive health insurance . A further 21 per cent would accept a lower salary to get income protection from their employer.

Declan White, group risk marketing manager at Friends Provident, said: "Employers are increasingly facing the quandary of whether to 'retain, revise or remove' their employee benefit packages. It is important for employers to consider not only the cost, but the perceived value of the benefits held by their staff, as part of their decision making rationale. Even in today's uncertain economic times, employees will still look at what benefits they have versus what benefits they could have elsewhere."
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