UK - Only 23% of organisations provide flexible benefits as part of their remuneration package, a new survey reveals.
Research by the Chartered Management Institute and Remuneration Economics also showed average bonuses have fallen by nearly £500 to £3509 in the past year, but the number of payments made has risen.
The findings, published in the 2004 National Management Salary Survey, reveal how benefit packages have changed since the survey began 30 years ago.
In 1974, 87% of directors had sole use of company cars compared to 65% today. At managerial level these figures have fallen from 72% to 44%.
In an effort to secure employee loyalty, benefits increasingly feature in the overall remuneration package. In 1974, private medical schemes were offered by 47% of employers and share option schemes by 22%.
However, the number of companies now providing similar incentives stands at 70% (medical insurance) and 50% (share options). The other most commonly offered benefits include company pension schemes (96.7%) and mobile phones (79.5%).
The survey also recorded an increase in the number of resignations among HR managers, which it attributed to only a small 0.7% rise in their earnings from £43,263 to £43,571.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.