Research from Fidelity International (‘Fidelity’) reveals that despite often significant investment in workplace benefits programmes, many employees remain unaware of the support available to them, potentially reducing the impact these programmes can have upon employee wellbeing, productivity and talent retention.
Fidelity’s Global Sentiment Survey, a whole-of-market study now in its fifth year, tracks the views of more than 38,000 working adults from across 35 markets around the world, including the views of 1,000 based in the UK*.
The latest survey reveals that more than two-fifths (43%) of UK workers say they are not aware of all of the benefits offered through their workplace, suggesting an emerging benefits ‘value gap’. While employers are investing in the benefits they offer, many of their employees may not be aware of or be using them.
Daniel Smith, Head of Workplace Investing Distribution at Fidelity International, said: “Employers today are offering more support than ever, from financial wellbeing tools and pensions guidance to benefits that promote work/life balance, career fulfilment and long‑term security. However, our research indicates that many employees simply don’t realise what’s available to them.
“There is a clear opportunity for employers and providers to work together to reframe and communicate workplace benefits so they resonate with a modern workforce. Improving engagement can help employees to feel more confident and supported, while ensuring employers get the full value from the programmes they are investing in.”
Encouraging engagement – the most valued benefits
The research explored those benefits which are considered most valuable to employees, often helping them to decide whether or not to stay with an employer.
Tangible benefits – like a workplace pension (73%) and competitive base compensation package (62%) are both cited as important factors for choosing to remain in a job.
However, intangible benefits which support employees’ everyday needs are also deemed important. A manageable workload (86%), stability and job security (86%) and good work/life balance (86%) are the most valued benefits, followed by leave policies (83%), positive relationships with managers (82%) and colleagues (81%), and meaningful or fulfilling work (78%).
Despite the value placed on these benefits, only 57% of employees say they are aware of the full list of benefits their employer offers.
The role of benefits communication
Fidelity’s research uncovered a link between benefits understanding and job satisfaction. Almost half (46%) of employees who consider themselves to be very satisfied at work report an understanding of the benefits their employer offers. In contrast, satisfaction falls sharply among those who are unaware (25%) or unsure (26%) of what is available.
Daniel Smith continues: “As employees’ needs evolve and the competition for talent continues, clear and consistent communication around benefits has never been more important. Employers are investing significant resource into their benefits programmes – but without strong awareness and understanding, even the most robust offering risks underuse. When employees know what is available and how it supports them at different life stages, employers see higher satisfaction – all while helping people feel more secure both financially and emotionally.”
“We work closely with employers and HR teams to help close the benefits value gap, by making benefits easier to understand and engage with. From targeted, life‑stage communications to digital tools and guidance that support long‑term financial wellbeing, our focus is on helping employees access the right support at the right moments. By improving awareness and simplifying the experience, employers can maximise the return on their benefits investment while helping their people build confidence, resilience and a stronger financial future.”
Daniel Smith finished: “As an industry, we must also ensure that retirement benefits remain front and centre. While employees value wellbeing and work/life balance, pensions continue to play a critical role in their decision to stay with an employer. Keeping retirement support visible, accessible and relevant will be essential in the years ahead.”
