Canada Life reveals over 10m UK workers accepted new employment based on benefits, perks or company policy

According to the latest research commissioned by Canada Life, 34% of workers in the UK (10.8m) accepted their current employment based on a competitive benefit, perk or company policy.

Related topics:  Canada Life,  New Research
Tabitha Lambie | Editor, Protection Reporter
17th October 2023
Employees and Money
"Employees are clearly now viewing benefits packages as a crucial deciding factor when thinking about joining a company, staying in a role, or leaving."
- Dan Crook, Protection Sales Director at Canada Life

Of those surveyed (2,000), 41% said flexible or hybrid working conditions were the most important benefits, followed by annual leave allowance policy (36%), and learning allowances (21%).  Although nearly half (49%) of those who have moved jobs in the last five years said they didn’t check review sites such as Glassdoor, of those that did, 22% sought information on company benefits. Other areas that were investigated include salaries (42%), company reputation (34%), work-life balance (30%), and culture (26%).

Unfortunately, a fifth (20%) of workers failed to receive any information on their company’s benefits and perk packages after joining their most recent company. This led to 19% of workers taking matters into their own hands and researching benefits via the company’s website.

Commenting on these findings, Dan Crook, Protection Sales Director at Canada Life, has said:

“Having competitive benefits packages means nothing if the employer does little to promote them to the employee – prospective or otherwise. It should be a given that new starters receive information on what is available and how to access the various benefits, but ongoing communications are also needed to ensure uptake. Reminding an employee of what is on offer, might just make the difference between someone leaving a role, or staying.

“When communicated effectively, group life, group income protection and group critical illness cover, and the associated support services, are integral elements to any benefits offering.”

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