Pensions are the number one employee benefit that new recruits seek when joining a company, accordin...
Pensions are the number one employee benefit that new recruits seek when joining a company, according to new research.
A survey conducted by Barclays and Legal & General suggests receiving a decent employer-based retirement package is uppermost in the minds of potential employees, above bonuses and flexible working hours.
According to the survey conducted by Continental Research in May, 63% of employers questioned believe providing a good pension scheme is key to retain staff, followed by flexi hours (60%), bonuses (59%) and healthcare (42%).
In addition using pensions for recruiting and retaining staff, 32% of employers also say income protection are most important when increasing motivation to stay.
Adrian Boulding, pensions strategy director at L&G, says employers are beginning to see the value of pensions in recruitment.
"I'm not surprised company pensions are proving such a popular employment perk. Provided regular contributions are aid, a pension fund is likely to become an employee's most valuable financial asset.
"Employers are recognizing the value of providing a pension. Interestingly, while 22% of employees believe that their bosses will make a contribution to their staff's stakeholder pensions, more than 40% of employers say they would be prepared to do so," adds Boulding.
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