Many employees don't understand the total value sitting in their benefits packages and more than that many don't understand how to make the most of their reward and benefits to improve their own financial wellbeing.
Making the most of reward and benefits can make a real difference to individual employees - the equivalent of a pay rise.
So before looking whether reward needs to increase or more benefits need to be added, the answer is to ensure that all employees understand and are making the most of what's there already.
Financial education is the key to unlocking the value from all reward and benefits and should be the first step to ensuring employees are making the most of what's on offer in the workplace.
Rewards and bonuses can lead to happier staff4 March 2016Rewards and bonuses can help motivate under-appreciated staff, research from NGA Human Resources has revealed. The findings, released to mark Employer Appreciation Day today [4 March], showed that almost two-thirds of workers want more financial recognition for their achievements. According to the survey, a quarter of UK employees are unhappy at work and more than a third do not feel valued by their organisation. Despite this, two-thirds of firms do not have a visible and formal appreciation scheme for staff.