Companies prefer flexible employee benefits over cash rewards

A survey has found that most companies are looking to offer their workers non-cash employee benefits, rather than provided monetary rewards.

The Thomsons Online Benefits Employee Rewards Watch 2011 found that 90 per cent of respondents were planning to introduce employee benefits packages which incorporate perks such as flexible working.

According to the 400 firms that participated in the research, employee engagement is the primary driver for considering non-cash employee benefits packages.

Other findings include that 19 per cent fewer businesses are trying to grow their operations in the coming year, with many saying that they were focussing on structural changes instead.

"The coming year promises to be an exciting time of both challenge and change. This report offers insight into the readiness of organisations for that challenge and change," Chris Bruce, managing director at Thomsons Online Benefits, noted.

Charles Cotton from the Chartered Institute of Personnel and Development said  recently that sharing future success with staff is essential for employee engagement.