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Workers value healthcare above company bonuses

5th May 2008

Despite being the second most popular employee perk, only one-fifth get healthcare provision through work

British workers rate healthcare provision as a more valuable benefit from their employers than hard cash, according to new research(1) from Benenden Healthcare, the mutual healthcare provider. Overall, getting healthcare through work was considered more valuable than financial bonuses and second in importance only to employer pension contributions.

Despite this, only one-fifth of British adults get healthcare provided through their or their spouse’s work. Of those who have had to use a work healthcare scheme, 86% of people rated it as excellent or good.

Benenden’s survey has revealed that over 8m Brits – 23.4% of the working adult population – rate healthcare provision as the benefit they would value the most from their employer. This is in comparison to over 600,000 people rating complementary gym membership or a maternity/paternity policy as the most important benefit. And just 4.6m said extra holidays or days off would be their preferred perk.

The table below shows the regional differences in how healthcare is valued:

   

London

32.3%

South East

27.6%

Scotland

26.9%

South West/Wales

24.1%

North

18.2%

East Midlands/Anglia

17.5%

Yorkshire and Humberside

16.5%

West Midlands

16.0%

Jean Scott, acting Member Services Director for Benenden Healthcare said: “Healthcare is a very important service and, as our research shows, it is really valued by employees. Not only does it help motivate staff and encourage loyalty and retention, it also helps reduce absenteeism and demonstrates to staff that their employer does value them.

Healthcare schemes such as Benenden’s can provide quick treatment for common complaints such as back pain, giving peace of mind to the employee and reassuring companies that their staff are being looked after promptly and effectively.”

Benenden’s corporate plan, through which employers can offer healthcare as a benefit to staff, costs just £65 per person, per year and is available to those working in the public sector and charities. Individual membership costs just £1.25 per person, per week.

 

(1) GfK surveyed 1001 GB adults aged 16+ between 18th-20th April 2008.
Prices correct at time of publication

 

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