Off-payroll legislation that took effect in the private sector in April has had a...read more
More firms are offering new dads the opportunity to take time off on the same terms as mums.
Companies are getting to grips with the new workplace culture, but slowly.
A new report found 43% of 243 firms studied across the UK now offer Shared Parental Leave on the same terms as maternity leave. That’s up from 35% last year.
However two thirds of businesses still admit they find it hard to appeal to a workforce with varying preferences when it comes to benefits overall. 71% said they struggle with the cost of benefits.
The findings make up the 2019 Benefits Strategy and Benchmarking Survey from global risk management giant Gallagher.
The survey asked employers how their strategies are evolving to keep pace with changing employee priorities. It looked across the spectrum of benefits including pensions, workplace perks and flexible working. Most said they are looking to enhance their offer to employees going forward.
Many employees, particularly among the millennial cohort, expect better conditions at work. Firms are being forced to improve conditions.
Gallagher summed up the research in four key findings: Don’t fear innovation in challenging circumstances; Beware of a ‘one size fits all’ approach; Look inward for answers; Adopt a holistic approach to organisational wellbeing.
“Benefits are by no means a silver bullet towards achieving a happy workforce, but employers must adopt a holistic view if they are going to improve retention and engagement of top talent,” stated Nick Burns, chief executive of the UK employee benefits consulting division at Gallagher.
“It is clear from this report that most organisations know this as the majority of employers who are planning changes to their offering say they are going to enhance benefits in order to build a better workplace. With the needs and priorities of employees changing, this report highlights how employers address their employees’ concerns and balance rising costs in order to face the future with confidence.”