New research reveals that almost nine in ten (87%) workers in the healthcare sector want their employer to invest more in employee benefits packages this year.
However, the healthcare sector is the least likely to increase investment – just one in five (18%) healthcare businesses say they are planning to invest more in employee benefits this year.
Eight in ten (81%) healthcare workers admit they want more financial support at work, higher than the UK average of 74% for all sectors.
Increased pension contributions are the most popular benefit amongst healthcare professionals – 45% of these employees say this is the most important benefit. However, less than one in five (18%) healthcare businesses currently offer this.
Private Medical Insurance (PMI) and wellbeing allowances are the other priority benefits for healthcare employees (38% and 30% of ranked these as the most important benefits).
Two thirds (62%) of healthcare employees think that their benefits package is inadequate – the highest proportion of any sector.
Under half (48%) think that their benefits package offers good value for money, ranking second last out of all sectors surveyed and only ahead of the education sector (42% of employees believed they got value from their benefits).
Healthcare businesses are at risk of losing out on talent – six in ten (62%) employees admit they would leave their current job if another company offered a better benefits package whilst 38% would consider a switch to another sector.
Just six in ten (60%) of employees in the healthcare sector admit they know exactly what benefits they have access to – the second lowest proportion from the research. This is despite 99% of healthcare businesses believing that employees are aware of the range of benefits that are available to them.
Healthcare employees are frustrated with the benefits packages on offer to them – just a quarter (26%) say their employer listens to their needs and responds through the benefits on offer, whilst 56% admit they don’t use the majority of their benefits.
Employers understand the importance employees place on support. Nearly all in the healthcare sector (94%) now say that a benefits package is one of the first things candidates ask about in an interview.
Matt Russell, CEO of Zest, says: “Healthcare professionals are demanding increased financial support from their employer and aren’t afraid to move elsewhere to get it – even if that means switching to another sector. Given the existing pressures on the NHS, a talent drain could have catastrophic consequences.
“Without increased investment in benefits packages and an improved understanding of the support employees are calling for, healthcare organisations are at risk of losing out on talent. Currently, it appears that HR leaders across the healthcare sector remain unaware of the apathy many of their employees have when it comes to engaging in their benefits packages – this leads to poor value for money for both employer and employee.”
*Research from Zest
www.zestbenefits.com/roi-calculator/
