The number one employee benefit people in Northern Ireland care about is private health insurance. Health and wellbeing is considered the most important benefit due to increasing lifestyle pressures such as 24/7 email access, increased travel requirements and working overtime.
Howden Employee Benefits & Wellbeing
When asked to rank three other common benefits in order of importance, the average employee in Northern Ireland will respond with pensions, sick leave and education.
There is fierce competition for talent and so to help recruit and retain employees, competitive employee benefits packages often will include gym memberships and child care, particularly in the IT industry.
Average Cost For Employer-Sponsored Benefits
The average salary in Northern Ireland is 25,000UKP per year, with an average employee benefits package costing about 20% of this amount.
Attraction and retention of employees is important in Northern Ireland. Before entering the market, benchmarking is definitely advisable.
Previously heavy industry was predominant in Northern Ireland, it is now services which account for 70% of economic output and 78% of employees.
This information about employee benefits in Northern Ireland is provided by Howden Employee Benefits & Wellbeing, Asinta’s employee benefits consulting Partner in Northern Ireland.