Stretch salaries further with employee benefits

What if pay rises aren’t the answer?

As the cost-of-living crisis deepens, employees aren’t just tightening their belts, they’re looking to their employers for real, practical support. This report dives into how SMEs across the UK can make salaries go further by offering benefits that truly matter. Not just perks, but lifelines.

Through exclusive survey data from over 2,500 HR decision-makers and employees, we uncover a growing disconnect between what businesses think their teams want and what they actually need to stay afloat, and stay loyal.

Key findings include:

• 85% of employees have reduced their expenses in the past six months and are worried about their financial future.
• 68% of HR decision-makers (HRDMs) have received financial support requests from staff, an average of 9 per company.
• 33% of HRDMs have already noticed an increase in resignations.
• 40% of employees are actively job-hunting for better pay, while 76% are seeking ways to save more.
• There’s a disconnect between what employers offer and what employees actually need:
  • Top benefits offered: Gym memberships, bikes, childcare, eating out, groceries.
  • Top benefits desired: Groceries, car travel, tech, childcare, gym memberships.
• 51% of SMEs cite budget constraints as the main barrier to offering better benefits.

Workplace benefits are no longer just perks, they’re lifelines. This report makes a compelling case for SMEs to rethink their benefits strategy and listen more closely to employee needs. 

Download the full report to discover how your business can boost employee satisfaction, reduce turnover, and make salaries go further, especially when it matters most.