Cost key reason for EBC benefits recommendations

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Just over half (54%) of employee benefits consultants (EBCs) say they always recommend their clients to take employee benefits offered by their employer, research reveals.

Findings from Metlife showed that cost was a key factor when advising clients on benefits as 42% of EBCs said they made their recommendation based on the price of the benefits.

The research highlighted that over a third (35%) of EBCs were not offered an employee benefits package by their own employers in addition to a company pension scheme.

However, around 31% of the employee benefits consultants surveyed were sole traders or self-employed and did not have access to employee benefits - bringing the actual amount of EBCs who were eligible but did not have access to just 4%.

Around 33% of respondents were offered employee benefits in addition to a company pension.

MetLife UK employee benefits sales director Tom Gaynor said: "There is general acceptance that a well-designed employee benefits package increases staff loyalty and helps retain talented employees.

"Clearly however cost is an issue for both employers providing employee benefit packages and for the consultants who advise clients on whether to take up the benefits offered."

He added: "The ongoing introduction of auto-enrolment is acting as a trigger for companies of all sizes to review employee benefits in line with pension provision and is proving to be positive for the market as a whole."

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