Analysis of UK employee benefits data has found that 98% of employees with access to supermarket discounts use them to supplement their weekly shopping. This practical perk offers tangible financial relief in the face of rising living costs, with the average employee saving £725 per year.
The research* assessed workplace benefit data for over 145,000 employees and found that dental services are the second most valued employee benefit. With increasing pressure on NHS services and limited appointments available, an average of 6 in 10 employees are turning to their workplace benefits for private support.
Salary advances, which allow employees in urgent financial need to advance portions of their pay, are also popular amongst UK workers, with more than three quarters (78%) of employees on average engaging with the service in the past year. However, despite this, less than a quarter (23%) of employers offer the perk.
This disconnect is also present when it comes to gym memberships. Often viewed as the ‘most popular perk, gym memberships are only used by less than one in 10 (8%) employees, yet more than three-quarters (76%) of employers offer them.
Chris Brown, CEO at Rippl, comments: “There is a clear link that the most valued workplace perks are those that meaningfully support employees in their everyday life, particularly when it comes to easing the burden of essential expenses and the cost of living.
“Retail and lifestyle discounts are an easily accessible benefit for employees that can help with everyday expenses such as weekly food shops, meals out or family cinema trips. For employers, it’s a simple way to financially support employees in lieu of significant pay rises. Our analysis demonstrates that for workplace perks to truly drive impact, they must help employees’ day-to-day, not just appease a wider business objective or be part of a box-ticking exercise.
“Offering employee benefits that people genuinely value is what sets employers apart – and to do this effectively, the unique priorities of each workforce need to first be understood. To attract and retain talent in today’s competitive market, employers need to priorities their people’s needs and truly support them.”
The Most Valued Perks:
- Retail vouchers
- Salary advance
- Dental
- Eye Tests
- Charity donations
*Research from Rippl
