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.
‘Most significant’ upgrade since launch
Changes happening over coming months
Had accepted British Steel business
Aimed at HNW clients and family groups
Set for 1 April 2019