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Recession Sparks interest in Employee Benefits

Staff are increasingly taking an interest in employee benefits as the recession forces them to re-evaluate their finances, consultancy Lorica has said.

More and more people are investigating the benefits they are entitled to in their serviced office jobs as they try to cut down on outgoings at home, according to the company.

Matt Duffy, partnerships manager at the consultancy, said: “People are looking to see what benefits are provided to them by their employers that could actually replace insurance-based products that they’ve taken out at home.”

One example his gave was life insurance. Many people will get life insurance through their work, so they need not fork out for the cost at home.

Mr Duffy added that general awareness of benefits was also increasing, as people considered what was available and what could be available through other employers.

A survey by the Canada Life Group Insurance showed that 61 per cent of people consider the benefits on offer to them when they are looking at new jobs.