The UK charity sector has ranked as one of the most competitive for employee benefit packages, outranking 24 other sectors, new research has shown.

According to the Employee Benefits Index, the charity sector scores 575 out of 2,000, ranking eighth highest out of 32 sectors.

Primary benefit highlights for the sector are flexible working (offered at 36% of charities), cycle-to-work (12%) and health and wellbeing programmes (9%).

The Index, published by sharetech platform Vestd, looked at over 130,000 job listings and 20 employee benefits.

The motoring sector scored the highest, with a total of 704 due to a combination of bonus schemes and flexible working, which are the most popular incentives.

Customer service and hospitality rank as the second and third best sectors, with scores of 671 and 660, respectively.

“Despite growing awareness of the importance of employee benefits, too many organisations still view benefit packages as a cost hit rather than a strategic investment,” Vestd founder and CEO, Ifty Nasir said.

“But when you consider the ROI of a well-designed employee benefits package, chiefly in improving retention and employee engagement, the financial need is clear.

“It is great to see the charity and voluntary sector using employee benefits to attract and retain specialist talent by successfully offering more progressive workplace perks. Our ‘Employee Benefits Index’ also shows that sectors offering long-term incentives like EMI schemes outperformed in overall benefits, leaving them better equipped to attract and retain talent.

“With National Insurance contributions on the rise, turning to equity-based schemes also works as a tax-efficient alternative to pay rises or bonuses. In doing so, companies that invest in their benefits provision and long-term incentives are not just supporting their teams, but are strategically safeguarding their bottom line and protecting their long-term stability in a tough economic climate.”

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