New research by Epoq Legal indicates that employees welcome benefits that support individual responsibility
Over 80% of employees value pension, health, legal and protection services, way ahead of the arguably ‘softer’ benefits such as gym membership (62%) and childcare vouchers (41%), according to Epoq’s new research.
This was the case across all age groups, aside from the 18 – 24-year-old category where gym membership appears in joint second place at 92% alongside critical illness insurance. The research was carried out by Opinium on Epoq’s behalf (May 2017) and surveyed 2,002 nationally representative UK adults.
Epoq Commercial Director, Andrew Walker, commented: “Our findings indicate that the majority of employees are looking to employers to offer the kind of benefits strategy that educates, enables and empowers them to protect their future wellbeing.
“Against this backdrop, giving individuals access to the type of benefits that will help them protect their interests – such as pensions, health, protection, legal advice and documents – will clearly be a welcome move.”
Legal advice is typically offered via an Employee Assistance Programme although it is increasingly being combined with online legal document services and offered as an added value service on health and protection products.
With regard to legal documents, the survey also found that access to – and help with – legal documents, such as a Will, also featured highly (83%) in the overall list of most valued employee benefits.
Andrew Walker adds: “The need for such support is clearly there and would likely be highly valued, especially when you consider that the majority of respondents indicated that they had not yet made a Will. Legal advice should include not just helplines, but also online access to tools such as document templates that help people to take action and protect their interests.”
59% of adults don’t have a Will
The survey took a deeper look this aspect and found that only just over two-fifths of respondents (41%) have a Will, the majority of whom (45%) are in the 65+ age bracket.
The ages at which most people are most likely to have a mortgage and dependants also represent the age brackets least likely to have a Will (9% in the 25 – 34 age bracket and 10% in the 35 – 44 age bracket).
“Clearly there’s a need here and if employers were to provide a Wills service as a benefit, it stands to reason that more adults would make one and so protect the interests of their loved ones.” says Mr Walker.
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See an infographic of the complete findings here.
For more information about this research or our services, please call us on 020 8731 2424 or email firstname.lastname@example.org