Pension and holiday packages important for employee motivation, says survey

Date: 30/11/2010

Employers have been advised on what staff benefits will increase employee motivation in a new survey.

The research, by Canada Life Group Insurance, compares benefits rated by staff in 2009 and 2010.

A good pension was in top place in both years, echoing recent research by Aon Hewitt, which showed that 56 per cent of workers would prefer better pension contributions than higher pay.

The Canada Life Group Insurance survey also revealed that a good holiday package was more important this year than last, rising from third to second place.

Paul Avis, sales and marketing director at Canada Life Group Insurance, said: "In a tough marketplace where employers are working hard to retain their top talent, they need to close the difference between the benefits they offer and what employees actually want."

The previous research was explained by John Puddephatt, principal at Aon Hewitt, who called staff valuing pensions over pay an "absolute turnaround".

He added that the increase in retirement age and the effect of the recession had led many people to think about their long-term finances.

Posted by Jo Morgan 

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