More and more Spanish companies are committed to personalizing the social benefits they offer to their employees and this is essential as more and more workers see this issue as essential when they stay or change companies. Likewise, organizations must still improve in the communication and promotion of this type of remuneration, because a majority of employees say they do not know the offer or what is invested in them for these issues.
These are some of the conclusions of the study on employee benefits in Spain 2021 presented by Mercery in which 1,480 employees from all sectors of activity participated. Importantly, the interviews were conducted before the start of the pandemic.
“It is essential for companies to offer their employees a wide range of benefits adapted to a constantly changing context and which also gives them the flexibility to choose them according to their particular needs”, explains Mr. Luisa Oliva, Director of eBenefits Solutions in Mercer, Spain. “It’s a key aspect in organizations to attract and retain talent, in addition to fostering a higher level of engagement from their employees,” he says.
According to the report, which covers the entire generational spectrum in companies, 96% of employees receive some type of benefits and these are a fundamental part of companies’ human resources strategy. Health and well-being (90%), as well as work-life balance and mobility (60%), are the most frequently offered categories. 52% of employees consider that their set of social benefits is adapted to their needs and more than half of the people questioned say they take advantage of the services offered.
Regarding satisfaction levels, 75% of those interviewed are satisfied with what the company brings them, with very little variation from the study carried out in 2018. For generations, the youngest have shown somewhat lower satisfaction percentages. and more predisposition to leave the company. In the same vein, we note a growth in the percentage of workers who will change companies depending on the benefits received, from 41% in 2018 to 47% in 2020.
When asked in which exceptional areas of their business they differ from others, they think they focus on flexibility and balance, with percentages over 60% followed by corporate social responsibility. The low differential value perceived in insurance and pension plans leads to recommend that organizations improve communication and promotion actions for these products.
The chapter on internal communication is essential so that employees know the availability of your company’s benefits and can value them. Over 85% receive information, but only 50% believe it is done effectively. About 60% of those surveyed positively appreciate the ease of access that the company offers them. However, this percentage decreases significantly when the clarity of the information or the effectiveness of the medium in which they are informed is assessed.
To encourage employees to value the investment in the benefits that the company brings them, they must be aware of the economic value that it represents. However, more than half of employees (54%) say they do not know these costs, a percentage which increases by 10 points in the Millennial category.
Regarding what they would like their companies to offer them in the future, the analysis shows that all generations demand greater benefits in terms of health and well-being, work-life balance, flexibility and mobility and transport. It is also important to emphasize the importance of having career development opportunities within the company. 26% of Millennials and 21% of Generation X express their wish that this point be improved in their business.