Around 36% of UK businesses have reduced the generosity of the workplace benefits available to their employees over the past 12 months due to pressures caused by economic conditions, Scottish Widows told COVER.
The provider surveyed 1,000 senior decision-makers and 2,000 UK employees, finding that of the businesses that had to make changes to manage economic pressures in the past year, healthcare plans ranked in the top three benefits that have been reduced (31%). Reducing bonus schemes (72%) and remote/flexible working (39%) took the top two spots, with employers also reducing redundancy pay (30%), life insurance (28%), sick pay (27%), childcare support (25%), paternity leave (24%) and maternity leave (20%). At the same time, 40% of employees cited sick leave as the workplace benefit most i...
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