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Financial services employers miss the mark on benefits

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There is a huge disparity between financial services employees’ benefits priorities and the packages on offer from their employers, according to new research.

In a survey of almost 250 UK financial services employees and employers, by recruitment consultancy Badenoch & Clark, it found that flexible working hours was one of the top incentives for employees, yet only 55 per cent of financial services companies currently offer it.

The research also revealed that benefits such as season ticket loans came bottom of the list, with six per cent of employees considering this an important incentive, yet 74 per cent of employers are currently offering this as part of the benefits package. Similarly, only 8 per cent of employees listed gym membership as an important perk, and 62 per cent of employers currently provide this as an incentive.

Neil Wilson, managing director of Badenoch & Clark, said: “Our research reveals that this is a market in which there is a notable mismatch between what employees find attractive in a role and what employers are focused on offering. Employers should spend some time evaluating the most attractive benefits for employees and prospective employees.”

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