84 % of Finnish people think that fringe benefits have a great effect on well-being at work
Majority of Finnish people think that fringe benefits have a major effect on employees’ well-being and employer’s image. 77 percent of the employees, who replied to the survey, explained that their employer offers them fringe-benefits. The most common benefits at Finnish workplaces are lunch benefit and sport benefit.
Half of the respondents replied that their employer offers them a lunch benefit (50 %) and a sport benefit (49 %). Culture benefit is being offered to 36 % and a phone benefit to 34 % of the respondents.
One fifth (19 %) of the respondents replied that their employer doesn’t offer them fringe benefits. 21 % of the employees told that their employer offers them only one benefit and one fifth (21 %) said that their employer offers more than three benefits. Approximately one fifth replied that they don’t use the benefits offered to them by their employer. According to the survey, the most used fringe benefits are lunch benefit (38 %), sport benefit (37 %), phone benefit (29 %), and culture benefit (29 %).
Fringe benefits improve employees’ well-being and employer’s image
84 percent of the respondents, who said that they use fringe benefits, replied that these benefits improve their well-being. 42 % of the women thought that fringe benefits have a great effect on well-being, when the corresponding number of men was 30 %.
Fringe benefits have also a great effect on employer’s image. Especially sport- and culture benefits (83 %), lunch benefit (75 %), staff canteen (72 %) and commuting benefit (67 %) are seen to have great or fairly great effect on employer image.
“Employees are absolutely the most important resource for a company. The maintenance of employee’s well-being requires right balance between work and recovery. A skilled employer knows this and invests in a work environment, which encourages people to take care of themselves, and to fulfill and improve themselves at the workplace”, says Jaana Laitinen, a specialist from Finnish institute of occupational health.
Monetary savings of fringe benefits are not clear to everyone
A little over half of the respondents know exactly how much money they are saving when they use their fringe benefits. One third knows roughly how much they are saving and one tenth says that they are not at all aware of the savings related to the fringe benefits.
For example, 48 percent of the respondents say that they know exactly how much money they are saving when using a lunch benefit and 59 percent when using a sport benefit. Monetary savings of housing benefits were the most well-known among the respondents, but still only 70 % replied that they know what the savings are exactly.
The reasons for unawareness were said to be the lack of interest (53 %) and the complexity of counting the benefits (40 %). 16 % of the respondents replied that their employer has not offered them enough information related to the fringe benefits.
“Fringe benefits are clearly important for both employers and employees. Based on the research, it can be said that the importance of fringe benefits is more related to the well-being at the workplace than to the monetary savings. It is important that employers give their employees enough information about their fringe benefits, for example, what they are based on and how to use them”, says Leena Hellfors, the CEO of Edenred.
Women would choose a sport benefit and men a car benefit
The respondents were also asked, which fringe benefit they would choose, if they could choose only one benefit. Car benefit (18 %) and sport benefit (17 %) were clearly the two most wanted benefits. What was interesting is that 27 percent of the men would like to have a car benefit when the corresponding number of women was only 10 %. Respectively, 24 % of the women would choose a sport benefit when the same number of men was 9 %.
Services, which help everyday life and family life, were also said to be important. Approximately half of the respondents replied that they would start using home doctor services (45 %) and housekeeping services (45 %). In addition to the traditional benefits, employees would also be interested in completely new benefits. For example, one holiday trip a year (62 %), massage (58 %) and a benefit, which you can use to buy groceries (49 %), were mentioned by the employees.
How was the research conducted?
Finnish working adults were the target group of the research. The research data was collected as a web survey by using Consumer Compass research panel in December 2016. 1334 respondents replied to the survey and 1029 (77 %) of them were in working life. These 1029 people replied to the questions regarding fringe benefits. The collected data was stressed to be equivalent to Finnish working population by age.
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