More than a quarter of private sector employers are looking to reduce employee benefit costs by cutting holiday entitlement for staff, according to new research.
Met Life's survey found more than a third of employees would accept it, but only if they received a pay rise. However, the International Employee Benefits Trends Study showed 10% of employees have been offered an enhancement to their employee benefit package in lieu of a pay rise. Of those 48% have been offered more paid holiday while 42% have been offered more flexible hours and 25% increased employer pension contributions. The study of SMEs revealed 27% of companies believe they are too generous with holidays and that 25% are considering cutting paid holidays. Meanwhile six ou...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes