Three in ten (30 percent) employees want higher employer pension contributions this year, increasing to 41 percent among people over 55, putting this top of people’s benefits wish list for 2025.
The research, with 2,000 adults conducted by Opinium, found that demand for private medical insurance (PMI) came a close second, with 29 percent of employees keen to have it added to their employee benefits packages. Demand for PMI rose to 39 percent for people aged 55 and over.
Support to help employees manage rising financial costs also remains crucial for people of all ages. The research found that employer contributions to energy costs at home and discount shopping vouchers came third on the wish list, which was compiled on behalf of technology provider Zest.
In fourth place was a desire to have a wellbeing allowance that people can spend on what they choose (19 percent), and in joint fifth place was paid mental health leave (16 percent) and a workplace savings scheme (16 percent).
The reasons behind these wish list picks are clear. For example, bigger employer pension contributions mean that employees don’t need to reduce or cut retirement savings payments to manage short-term living expenses.
Demand for employer-funded PMI is still high as the waiting list for treatment with NHS England is 7.54 million cases. However, PMI topped the list last year, suggesting a slight shift in priorities.
The ongoing cost of living crisis continues to shape employee priorities, Zest said, emphasising the 1.2 percent increase in the energy cap in January. The research showed that 23 percent of workers want employers to contribute money towards their energy costs at home, while rising inflation has led to the same proportion calling for discount vouchers for high street shops.
Matt Russell, CEO of Zest, said: “Continued economic challenges means many employees are looking for long-term financial support from their employer – increasing pension contributions is one of the most effective ways to reward employees and attract new talent.
“In a climate where many people have been forced to dip into their savings, employers who increase pension contributions can ensure their employees continue to build retirement pots, without impacting their day-to-day finances.
“Employers must ensure they listen to which benefits are most important to their employees – this is vital to boost morale and productivity, providing organisations with a competitive edge. In order to do this, employers need to use benefits technology that enables them to track the uptake on specific benefits, communicate with employees to understand their needs and adapt the support on offer.”
