Top ten largest disparities between large and small firms’ benefits
Percentage of SME employees (<250) who say their employer provides this
Percentage of employees of large businesses (250+) who say their employer provides this
Percentage point difference
Benefit
Discounts on leisure and shopping (e.g. gym membership, cinemas, restaurants)
9%
53%
44pp
Employee Assistance Programme
7%
47%
40pp
Holiday buy, sell and trade schemes Pension contributions over the minimum legal requirement
5%
40%
35pp
21%
55%
34pp
Life insurance and/or critical illness insurance
8%
38%
30pp
Financial bonuses / incentives
20%
46%
26pp
Free or subsidised travel (e.g. Cycle to Work scheme, company car etc)
9%
35%
26pp
Community leave
3%
28%
25pp
Professional development and training
20%
41%
21pp
Childcare vouchers
7%
26%
19pp
The benefits being provided by SMEs
According to employees, the most common benefits being provided by SMEs are financial benefits, with six of the top ten most common benefits offering some form of financial reward or discount. One in five (21%) SME employees say they are provided with pension contributions over the minimum legal requirement, and 20% say they receive financial bonuses or incentives. Other financial benefits provided are: discounts on leisure and shopping such as gym membership or restaurants (9%); free or subsidised travel such as the Cycle to Work scheme or a company car (9%); life and/or critical illness insurance (8%); and childcare vouchers (7%).
saying their employer organises team social events or functions, and 10% saying they have socialising space within the work environment, such as a games room or a chill–out area. The single most commonly–provided benefit, according to employees of SMEs, is flexible and/or remote working, provided by 28% of small and medium sized firms. However, other perks offering flexibility or increased work–life balance are relatively uncommon, with just 6% of employees saying their employer offers a four–day working week; 5% offering holiday buy, sell or trade schemes; 3% offering flexible pay schemes (where employees are allowed to withdraw a percentage of their earned salary in advance of pay day); and just 1% offering performance–based leave.
Benefits revolving around socialising are also relatively prevalent in SMEs, with 22% of SME employees
Whitepaper – The Engaged Employer 15
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