Employers urged to tailor work perks based on age of their workers

In a bid to keep older workers in the labour market, the government scrapped the pensions lifetime allowance – meaning there’s no longer a limit to how much you can save for retirement tax free – in one of the biggest pension shake ups since 2015.

Business experts at money.co.uk business loans surveyed 2,000 employees of different age groups on their attitudes to work and what motivates them. 

Workplace perks

Putting perks in place is a great way for business owners to show their appreciation to their employees, help them avoid burnout and contribute to better work/life balance and good mental health. 

The table below shows the top three most wanted work perks by age group, with the percentage saying they would be motivated to work harder if their employer put this perk in place : 

Average mixed workforce

The top ten workplace perks that would motivate employees surveyed to work harder are:

• Unlimited holiday (25%)

• Free healthy snacks (24%)

• Gym membership reimbursement (20%)

• Flexible hours (19%)

• Free health trackers (e.g. FitBit) (18%)

• Health insurance (18%)

• Wellness activities like yoga, meditation, walking clubs (16%)

• Happy hours (13%)

• Incentives for participation in wellness programs (12%)

• Healthy vending machine or cafeteria options (11%)

If your workforce is made up of mixed age groups, and you can only offer one or two perks due to budget constraints, then it’s important to ensure you choose the right perks that will benefit everyone.