According to a new study by Rippl, supermarket vouchers are the most popular workplace perk in the UK. They surpass traditional benefits such as gym memberships.
The analysis of benefits data from over 145,000 employees shows that employee preferences are shifting towards perks with a tangible financial impact. This is especially true in light of rising living costs.
According to findings, 98 per cent of employees who have access to supermarket discounts supplement their weekly purchases, saving an average of PS725 each year. This benefit provides employees with direct economic relief by allowing them to offset some of their daily expenses.
The demand for dental care at work is on the rise
Research also shows a high level of demand for dental services, in particular. As NHS services are under pressure and appointments are limited, 60 percent now use workplace benefits to pay for private dental treatment. This is the second most valuable employee benefit. Also, eye tests are increasingly valued.
Salary advances are also popular among employees. In the last year, 78 percent used this option to allow workers with financial needs to access a portion of their salaries before payday. Despite the fact that this service is designed to address immediate financial need, only 23 per cent of employers offer it.
Chris Brown said that, “there is a clear connection that the most valued benefits are those that support employees in everyday life. This includes easing the burden on essential expenses and cost of living.
Employees can easily access discounts on retail and lifestyle products that will help them with their everyday expenses, such as food shopping or meals out. Employers can easily support their employees without having to give them a significant raise in pay.
Gym memberships are declining in popularity
Gym memberships are no longer a common perk at work, despite their popularity in the past. Rippl data shows that only 8 per cent of employees take advantage of this benefit. Yet 76 per cent of employers still offer it.
The gap between the two suggests that employees place less value on benefits that don’t directly impact their daily expenses and immediate needs. Instead, they prefer to receive direct financial or healthcare support. However, businesses have not adjusted their perks in this way.
Chris Brown said, “For workplace benefits to have a real impact, they need to help employees in their day-today lives, and not just be a way of appeasing a larger business objective, or a part of a tick-box exercise.
To offer employee benefits people truly value, employers must first understand the unique priorities of their workforce. In today’s highly competitive market, employers must prioritize their employees’ needs and provide them with the support they need.
