Benefits & Total Reward

At Abacus the goal is simple, enjoy our work and help talented people find great opportunities.

The number and range of employment benefits has risen considerably in recent years. Benefits play an important role in attracting top talent.

Common elements of an offer of employment, outside of basic salary, can include; Pension contribution, Annual bonus, Professional fees, Exam support, Life Insurance, Health Cover, Company car, etc.

We can best illustrate ‘Total Reward’ with an example. An offer of employment includes:

Total Reward


Example
Description Amount (£)
Basic Salary £ 30,000
Employer Pension contribution 6% £ 1,800
Annual bonus to 10% £ 3,000
Life Insurance £ 250
Company car allowance £ 5,500
Total Reward £ 40,550*

*This example assumes that a full 10% bonus is achieved.

It is also very important to realise that a range of other benefits, which may not be directly attributable to a financial value, can be highly valuable to a potential employee. Examples of such benefits can be; promotion, change/increased responsibility, transferability, flexible start and finish times, work-from-home/flexible working arrangements, additional/enhanced holiday leave, learning and development opportunities, enhanced maternity/paternity leave, etc.

Below is a list of financial and non-financial benefits, that the team at Abacus Careers has seen offered by clients in the last 12 months. This list is comprehensive but not exhaustive, the important item to note is that one rule does not fit all in respect to benefits.

At different stages of our lives, we value certain benefits more than others. Employer pension contributions are not a key focus for those at the early stages of their career, their focus tends to be maximising take-home pay. The best employers tend to have a strong base of core benefits for all staff to avail of, they then provide additional benefits for staff who perform at higher levels in the organisation. Taking time to bespoke the benefits offering is just as important as making the correct basic salary offer.

Benefits List

Pension

Pension

Cycle to Work

Cycle to Work

Car Allowances

Car Allowances

Exam Support

Exam Support

Professional Advice

Professional Advice

Childcare Vouchers

Childcare Vouchers

Paid Study Leave

Paid Study Leave

Company Share Scheme

Company Share Scheme

Clubs & Societies

Clubs & Societies

Company Merchandise

Company Merchandise

Discount Scheme

Discount Scheme

Enhanced Family Policies

Enhanced Family Policies

Gym Membership

Gym Membership

Holiday Purchase

Holiday Purchase

Laptop/Mobile Phone

Laptop/Mobile Phone

Paid for Volunteering

Paid for Volunteering

Paid Overtime

Paid Overtime

Private/Subsided Healthcare

Private/Subsided Healthcare

Staff Events

Staff Events

Subsidised Canteen/Vending

Subsidised Canteen/Vending

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