Finance firms are emerging as frontrunners in attracting top talent with superior benefits packages, according to a recent report.
The Employee Perks Index, which is conducted by equities management platform Vestd, shows the finance industry’s capacity to offer highly sought-after benefits to job candidates.
The study used Indeed, a job search platform, to examine 20 popular benefits given in job descriptions. Up to 70 per cent of UK workers are expected to be actively exploring new jobs in 2024.
Vestd examined how common these benefits were across industries, assigning a weight to each industry’s score according to the proportion of jobs that provided each benefit. With a score of 586 out of 2,000, the Finance business earned a commendable ninth place in the Employee Benefits Index after 6,000 job descriptions were evaluated. Flexible/hybrid work arrangements were found to be the most common advantage provided by financial organisations.
Other industries such as Aerospace & Defence, Government & Public Administration, and Telecommunications are also excelling in offering appealing benefits packages to potential employees
Vestd founder and CEO Ifty Nasir says: “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 per cent 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 and expected industries but it certainly draws attention for the need of other industries to follow suit.”
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