90% Of Employees Are Missing Out On Improving Their Take-Home Pay Through Benefits

• New research highlights that communication breakdown has led to employees being unaware or misinformed about their benefits package; 28% said their company did not offer benefits or weren't sure if they did.
• In addition, 37% of employees are not taking advantage of the benefits available to them due to a lack of compatibility with their needs.
• Sodexo Engage's new research looks to bring this expectation difference into the light and help businesses increase benefits takeup

LONDON, Feb. 28, 2023 /PRNewswire/ -- Communication – or rather the lack thereof – is contributing to the poor uptake of workplace benefits and rewards, according to new research from the leading expert in employee engagement, Sodexo Engage.

The research revealed only 11% of employees are taking full advantage of their benefits and just 10% have received advice on how they can use their benefits to help their salary go further. This shows a clear lack of HR-to-employee communication regarding benefits, leading to a majority of employees being unaware of the opportunities available to them.

Moreover, 28% reported that their organisation either did not offer any benefits or they weren't sure if they did. This further highlights the importance of employers considering the benefits they offer and how to effectively communicate them to their workforce.

With 24.6 million full-time workers in the United Kingdom (as of November 2022), it is essential that everyone is informed of the benefits available to them, especially with the rising cost of living and challenging economic conditions. Unfortunately, without proper communication, a significant number of individuals may be left in the dark, missing out on valuable workplace benefits.

The 'The Mountain of Lost Benefits: Making Employee Benefits Matter' report by Sodexo Engage surveyed 500 HR professionals and 2,000 employees about their workplace benefits provision. The findings have provided invaluable insight into how businesses can enhance their benefits packages, uncovering key themes and some striking disparities.

Although employers are offering benefits, it appears that there is a mismatch between the benefits offered by employers and what employees use, leading to 37% of employees not using their benefits because they don't align with their needs. For instance, the results highlight that retail discounts and cashback rewards are one of the top-most used benefits by employees (23%), yet only 36% of organisations are offering them as part of their benefits package.

Burcin Ressamoglu, CEO of Sodexo Engage, explains: "Providing employee benefits are imperative, especially in the current financial climate where resources are limited and not all organisations can continue to raise salaries. But now our research has revealed that at times, employees still aren't making full use of their benefits due to a lack of knowledge, or misinformation about what is available to them.

"It's really important there's a two-way conversation about benefits, where leaders take the time to listen to their employees and make informed decisions based on what's important to them. Especially since 76% of employees said they feel more motivated when their organisation is supporting them."

Ressamoglu continues, "All leaders, but especially HR leaders, should create more platforms for communication with their teams to ensure they are providing the benefits most valued by employees. By gathering more insight and delivering more relevant benefits to their employee base, leaders will find themselves with a happier, more productive workforce and ensure higher retention."

Ultimately, the research has shown the critical influence of employee benefits on employee satisfaction. A whopping 74% of respondents said it was an important factor when deciding on a job offer and 71% said it was key to their decision to stay at a company. This is especially pertinent in times of talent shortage when HR must pull out all the stops to design an enticing benefits package to draw and keep talent.

Discover the full findings from 'The Mountain of Lost Benefits: Making Employee Benefits Matter' report, ready to download now.

ABOUT THE REPORT

The research surveyed 500 HR professionals and 2,000 employees about their workplace benefits provision on behalf of Sodexo Engage by OnePoll, from 23rd Dec 2022 to 5th Jan 2023. The survey was conducted online using panel members who are credited to participate in the surveys. Respondents were targeted using screening questions and profile data in order to ensure the correct demographic was achieved. This survey was overseen and edited by the OnePoll research team, who are members of the MRS and have corporate membership to ESOMAR.  

ABOUT SODEXO ENGAGE 

Sodexo Engage, part of Sodexo Benefits and Rewards Services, is a leading expert in employee engagement, providing award-winning employee benefits, rewards and recognition, creating experiences that make a real difference to people's lives, both inside and outside the workplace.

Sodexo Engage delivers powerful employee experience solutions which are developed in partnership with their stakeholders to lift the happiness and wellbeing of their people, which in turn supports their objectives and business performance.

Globally, Sodexo Benefits and Rewards Services, number 2 world leader in Employee Benefit and Engagement Solutions, is a trusted and responsible partner bringing to life sustainable and personalized employee experiences, at work and beyond. Sodexo Benefits and Rewards Services operates in 31 countries and is supported by 4200 employees. 

For press enquiries, please contact: Octopus Group | +442038237431 or +442038237391 | sodexoengage@octopusgrp.com