HR staff think the grass is greener for employee benefits at their competitors

The research, carried out with over 300 HR managers and directors by YouGov for vehicle leasing firm Lex Autolease, shows that only 1 in 5 (17%) think they have a more enticing employee offer.

Supporting that view, almost 40% of respondents to Lex Autolease's survey predict that their future benefits package will become more flexible, or incorporate more products.

Almost two third (63%) would implement a new employee benefit on the assumption that it will financially benefit the company, a quarter (24%) of organisations outsource some, or all, of their benefit provision and almost a third (29%) use third parties because they can obtain better deals or rates and more than half (56%) because it is generally more cost effective to outsource.

In three quarters (76%) of organisations, HR personnel decide which products to include in the benefits package

Claudia Rose, corporate sales director at Lex Autolease, said: "The grass is greener mentality is prevalent but, to a degree, this helps to safeguard against complacency. Competitiveness in the jobs market, even in a stagnant economy, is vital if firms are to retain and recruit the talent required to achieve future growth.

"It's important to offer greater choice, but also consider broadening accessibility to those perks. The company car, for example, has almost been the sole preserve of management level employees for a long time, but times are changing.

"Tax efficient and cost neutral schemes such as salary sacrifice are growing in popularity, particularly among large firms which are able to introduce flexible benefits across the board. Rewarding staff is the best way to keep them motivated and a company car still retains a certain prestige value."

This article was first published on hrmagazine.co.uk