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What are Employee perks?
Many companies offer employee perks as a way to attract and retain employees. Employee perks can include things like flexible work hours, telecommuting, health insurance, child care benefits, and tuition reimbursement. Perks can be an important part of choosing a job, and can help make a job more enjoyable. Employees should research the perks offered by potential employers to see if they align with their needs and preferences.
Why companies in UK offer work perks?
There are many reasons why companies in the UK offer work perks. One of the most important reasons is to attract and retain employees. Work perks can include anything from free gym memberships to flexible working hours. By offering these benefits, companies are able to make their workplace more attractive to potential employees. Additionally, work perks can improve employee morale and motivation, leading to increased productivity.
What are the top employee perks’ offered in UK?
Some of these perks are mandatory, while others are offered at the discretion of your employer. The top employee perks in the UK include:
– Paid annual leave: All employees in the UK are legally entitled to 5.6 weeks (28 days) of paid annual leave. This includes bank holidays and any other statutory holiday.
– Pension: Employees in the UK are also entitled to a pension. The amount you will receive will depend on your salary, how long you have been employed, and whether your employer offers a matching contribution.
– Maternity/paternity leave: Employees in the UK who have been employed for at least 26 weeks are entitled to up to 52 weeks of maternity leave. Paternity leave is also available for fathers and partners, although the entitlement is less generous.
– Sick pay: Employees in the UK who are unable to work due to illness or injury are entitled to Statutory Sick Pay (SSP) for up to 28 weeks.
– Flexible working: Employees in the UK have the legal right to request flexible working arrangements, such as reduced hours, flextime, or home working.
– Wellness Programs: In an effort to promote employee wellness and productivity, many employers in the UK offer wellness programs. These programs can include on-site health services, gym memberships, and other health and wellbeing initiatives.
Top employee benefits providers in UK
AXA PPP Healthcare is a leading provider of private healthcare insurance in the UK. They offer a range of health insurance plans for individuals and families, as well as group health insurance plans for businesses.
Bupa is a leading international healthcare company, with over 18 million customers in 190 countries. They offer a range of health insurance and healthcare services, including private medical insurance, dental insurance, and life insurance.
Cost of Employee Perks in UK
The cost of an Employee perks will vary depending on the provider, the size of the company, and the services offered.
Employee perks can be a great way to attract and retain top talent. But they can also add up quickly, especially in the UK. A recent survey found that the average cost of employee perks per person in the UK is £1,092 per year. That includes things like gym memberships, private healthcare, and company cars. For companies with large workforce, those costs can really add up.
MantraCare is one of the most cost-effective employee benefits provider with plans starting at $3 per employee.