- Almost half (47%) of UK employees now say that a good benefits package is the most important thing they look for in employment
- Zest customers saved £6.8m in Employer National Insurance contributions in 2024
Customers of employee benefits technology provider Zest, increased investment on reward packages by 22% over the last 12 months.
Almost half (47%) of UK employees now say that a good benefits package is the most important thing they look for in employment and nearly six in ten (56%) employees say they would leave their job if another company offered them a better benefits package.
One in five (19%) businesses admit they are unable to raise employee salaries in line with inflation. However, organisations are increasingly turning to enhanced benefits packages to reward employees as well as attract and retain talent – half (49%) of businesses report that they have increased investment into their benefits package over the past year.
With the autumn budget raising employer National Insurance (NI) contributions expected to cost UK businesses an additional £25 billion annually - it has become more important for employers to consider cost-effective approaches to reward employees such as investing in benefits packages.
In 2024, employers saved £6.8 million in NI contributions each month by utilising Zest’s benefits platform, up from £5.37 million each month during 2023. These savings are due to increased employer investment in taxable benefits which reduces employer NI contributions whilst delivering increased value to employees.
Matt Russell, CEO, Zest comments: “Employers are increasingly turning to benefits packages as a cost-effective way to reward employees when pay raises and bonuses may not be possible – this is an excellent approach to reward employees and attract new talent.”
“With employees demanding more personalised benefits, employers need access to platforms that allow them to easily administer packages and effective communication channels to drive engagement. Without this, organisations risk putting themselves at a competitive disadvantage.”
Zest is an employee benefits technology company with over 500 customers, including Hargreaves Lansdown, Taylor Wimpey, and Yahoo, serving over 300,000 employees. Its multi award-winning platform offers a fresh approach to truly flexible employee benefits.
Employers can use Zest’s ROI Calculator to learn more about potential savings on employer NI contributions as well as approaches to reduce talent loss and boost productivity: https://www.zestbenefits.com/roi-calculator/
