Data has repeatedly shown that workplace benefits are highly valued by employees, but which industries offer the most generous benefits packages?
In January, sharetech platform Vestd examined data from recruitment platform Indeed to answer this question. It looked at the most common benefits offered in job adverts and compared this with the frequency that they appeared in adverts for roles in different industries.
From this data researchers created an industry ranking based on the percentage of benefits employers in that sector offer.
Aerospace and defence ranked highest for generous benefits packages, with researchers noting that it also leads in offering hybrid and flexible working. Employers in the sector include MI6, Virgin Atlantic and United Airlines.
The government and public administration sector came second highest in the rankings, while the telecommunications industry ranked third.
In the telecommunications industry, the most commonly offered perk was a company bonus.
At the other end of the scale were non-profit and NGOs, which ranked bottom of the table. The management and consulting industry came second to bottom, and the restaurant and food service sector was third from the bottom.
Researchers acknowledged that charities and not-for-profit organisations are focused on delivering the best value for the causes they support rather than offering generous staff benefits. However, they said that if these employers made “some cost-effective improvements” to their packages it would help them attract talent.
Researchers found that the most common perk offered by the management and consulting industry was hybrid and flexible working.
Share schemes shake up the rankings
When it comes to offering a company share scheme, including the likes of growth shares, unapproved options or an EMI scheme, the range of industries that ranked near the top was interesting.
The aerospace and defence industry came top for its benefits that provide company share scheme options to employees. Perhaps unsurprisingly, insurance, and IT and finance industries also ranked in the top ten for this benefit. However, the hospitality and retail sectors made a surprising appearance in the top ten for their benefits offering employees share options.
Ifty Nasir, founder and CEO at Vestd, said: “While many companies like to shout about the office pool table or mini bar, we’re seeing people veering away from these sorts of quirky benefits while on the hunt for their next role.
“Given the cost of living crisis, employees are now on the lookout for tangible benefits that offer a true reward for their hard work or help them to achieve their day-to-day duties in the role.
“Employees are much more inclined to buy into the ethos of the company if they’re given shares as part of their compensation package. According to our research, 45 percent of businesses that responded said that having a share scheme in place made it easier to attract talent.
“It’s interesting to see the likes of retail and hospitality among the biggest providers of share options among the expected industries but it certainly draws attention for the need of other industries to follow suit.”
The findings have led Vestd to launch a search for the ‘UK’s Most Generous Company’. The competition aims to find and recognise employers that are setting new standards in workplace culture.
Nasir said: “The job market is a fiercely competitive space, with employees increasingly looking beyond the salary instead to workplaces that can offer them flexibility, professional growth, and financial stability. As these priorities evolve, businesses which fail to invest in meaningful employee benefits are at risk of losing out on top talent.
“That is why we have launched the search for the ‘UK’s Most Generous Company’ – to recognise the businesses that are setting new standards in employee support and retention. At a time when workers’ needs and priorities are shifting, we want to celebrate the companies that are leading the way to creating positive, rewarding, and forward-thinking workplace cultures.”
Competition judge Simon Squibb, founder of HelpBnk, said: “It is an honour to help find the UK’s Most Generous Company. A huge part of my mission in our company HelpBnk is trying to encourage others to lead purposeful businesses and that can only be done through fair and ethical considerations.”
