UK - Seven out of 10 employees would prefer to work for a firm which offers a choice of benefits rather than a fixed package, a new survey shows.
Research by youatwork – Royal & SunAlliance’s employee benefits arm – shows that employers who fail to meet the changing demands of today’s workers could face a skills shortage.
The survey also found that 63% of workers would like more control and choice over the benefits they are offered.
This figure rose to 69% for workers in the Greater London area, but fell to 49% for workers in the East Midlands.
Youatwork managing director Gerry Callaghan said: “While employees still want the comfort of benefits, which will be realised in the long-term, there is increasing demand for material incentives that reflect individual lifestyles.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers