Employers failing to meet the changing demands of today’s workers risk facing a skills shortage. Seven in ten employees (70%) would prefer to work for an employer who can offer a choice of benefits rather than a fixed package, according to a new survey by youatwork.

The survey, which looked at the provision of benefits in the workplace, shows that nearly two thirds (63%) of workers would like more control and choice over the benefits they are offered.

However, traditional benefits, which can be expensive to provide, are no longer the only incentive employers can use in their efforts to recruit and retain key staff. Two-thirds (67%) of workers would like to change their benefits to suit their own lifestyles. Increasingly, they would prefer a diverse range of products and services according to their age and job location.

The research highlights the benefits that are really valued by employees at different stages in their careers or in different locations across the country.

Workers in Greater London are by far the most demanding workers in the country. Seven in ten (69%) workers in this region would like more control and choice of the benefits they are given, compared to less than half (49%) of workers in East Midlands. Over three quarters (76%) of Londoners would rather work for a company that offered a choice of benefits, a greater proportion of workers than any other region surveyed.

Gym membership was thought to be a useful incentive by seven in ten (71%) workers in their twenties compared to only a third (36%) of 50 year olds. In contrast, over two thirds (67%) of workers in their fifties think that long-term care insurance would be useful to them compared to just over half (57%) of workers in their twenties.

Other key findings include:

– Londoners would much rather have a season-ticket loan (49%) than a company car (39%). However, the opposite is true of workers in North East, nearly half of whom (49%) feel that a company car would be more useful than a season ticket loan (16%)

– Nearly half (47%) of workers in their forties feel that childcare vouchers would be useful compared to only two in ten (20%) 50 year olds

– Demand for pet insurance was highest among workers in the South East, Greater London and the North East (all 22%) and lowest in the North West (13%)

As an HR professional, have you encountered much demand for more flexible benefits? Post your comments below.