Health perks have bounced back in popularity by employees, finds Sonia Rach.
Employee benefits can vary from voucher schemes to car hire incentives. A recent study by Willis PMI Health Group has found that 40% of UK workers ranked health insurance to be amongst their top three. Capturing second place in the Employee Benefits Index, it is up from third place and 37% in 2015.
Additionally, health screenings saw a rise, moving from sixth place to joint fourth alongside critical illness cover. 32% of workers ranked them in the top three, showing a 7% increase in the last year.
Remaining as the most popular benefit for another year running was the contributory pension schemes - despite provision becoming mandatory through auto-enrolment.
However, childcare vouchers on the other hand, appeared to decline in popularity. In 2015, 19% ranked the benefit in their top three, down to only 17% this year. This could be due to the introduction of Tax Free Childcare for all eligible employees in 2017, which will mark the close of voucher schemes to new applicants.
Mike Blake, director at Willis PMI Group, commented: “The rise in popularity of health insurance is perhaps understandable with the media continuing its scrutiny of the NHS and its struggle to meet the demands of an aging and growing population.
“Childcare vouchers can play an important role in helping working parents but this fall may be a consequence of the government’s new Tax-Free Childcare (TFC) scheme, which set to be phased in next year.”
To find out more about employee benefits and workplace health, come along to Reward Live where there will be talks from experts on the topics. It will be taking place on 11-12 May at Edgbaston Cricket Ground, Birmingham. For more details, CLICK HERE