Perks and rewards are important to employee satisfaction, survey shows

Over two-thirds of adults in the UK believe that perks and benefits are essential to their general satisfaction at work, according to research from employee engagement platform Perkbox.

The research, which surveyed 1,072 adults in the UK, looked at how employees from different age groups feel about perks and rewards in the workplace and found that 30 per cent are not happy in their current job role and would move to a job that offers better benefits.

Important

The survey also found that over 25 per cent of respondents are unhappy at work, citing the absence of rewards and acknowledgment of their good work as the main reason, whilst nearly half of respondents who are based in London would change to a job that offers better benefits.

Younger employees were found to be more concerned about benefits and rewards in the workplace, with 78 per cent of 18 to 24-year-olds saying that benefits and perks are important or very important to their overall satisfaction, compared to 58 per cent of those aged between 55 and 64 years old.

Recognition

Commenting on the findings, Perkbox Chief Executive Officer and Co-Founder, Saurav Chopra, said: “Investment in employee health, wellbeing and engagement via perks and benefits is often perceived as a costly, non-critical, ‘nice-to-have’ rather than an intrinsic tool for incentivising, retaining and recruiting talent. Yet most research indicates that while remuneration might instantly gratify and sway potential employees into accepting a job offer, it’s the non-financial factors that come with reward and recognition that engages and retains [employees] in the long run.”