Many employees in the UK do not understand how benefits work or how much they cost their employer, according to a new survey from YouGov. Showing employees what exactly their benefits are could help a company with recruitment and retention, stated Debby Hanaford of Oval financial services, who commissioned the survey. She said: "If I were an employer I would be concerned that staff don't understand their benefits. "If they don't understand them then they are less likely to value them." Benefits are often a "significant cost" to an employer and are a good method of showing employees how much they are appreciated, added Ms Hanaford. The survey also found that a full 64 per cent of staff in the UK do no believe that they are saving enough of their salary for retirement. And 70 per cent of respondents said that they would use the internet for financial advice. Currently the UK's unemployment rate stands at 2.9 per cent.
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