The imminent introduction of auto-enrolment looks set to trigger increased investment in employee benefits, according to research from Group Risk Development (Grid).
Research by the group risk trade body revealed that businesses were considering increasing the value of the benefits currently offered or adding new ones for their workforce. It found that more than two in five employers (41%) questioned claimed to be looking to up the value of their benefits package during 2012. The current average annual cost of an employee benefit package (excluding pension) is 2.19% of payroll, but the study suggested that employers may place greater emphasis on benefit provision in view of the current public sector service squeeze. A fifth (19%) said they were...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
