Finance industry leading the way in offering the best benefits for job seekers

by | Feb 18, 2024

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Businesses in the Finance sector are offering the best benefits packages to job seekers, a new report has found.

The Employee Benefits Index was carried out by equity management platform Vestd, after new research found that up to 70% of UK workers are on the hunt for a new role in 2024.

Vestd used Indeed to search for 20 common benefits found in job descriptions and filtered the results by industry. They then took the resulting number of jobs listed and divided this by the total number of jobs currently listed in the UK on Indeed.

 
 

In order to create the overall ranking, Vestd gave each industry a weighted score out of 100, based on the percentage of jobs that had each benefit, and totalled up the scores to give a score out of 2,000. The higher the score, the better the benefits packages offered in that industry.

The Finance industry ranked ninth in the Employee Benefits Index having scored 586.

After analysing 6,000 job descriptions, hybrid/flexible working was found to be the most commonly offered job benefit in the industry. 

 
 

Also leading the way in providing an attractive benefits package to prospective employees were the Aerospace & Defence, Government & Public Administration and Telecommunication industries.

Commenting on the research, 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% 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.”

To view the complete research and index in full, please visit: https://www.vestd.com/blog/uk-businesses-benefits-report 

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