Australian Managers Demand More Sophisticated Staff Benefits According To Recent BNET Australia Survey

Australian managers are looking for a clear stake in the businesses they serve as employee share plans top the list of desired staff benefits

SYDNEY, Australia - September, 2008 - Does the flash company car still cut it as the must-have benefit for today's management professional? Not according to a recent reader poll from go-to management resource BNET Australia (www.bnet.com), which finds the most desirable staff benefits for managers to be employee share plans. This was cited as the most desirable staff benefit for 53 per cent of survey respondents, demonstrating that managers and staff are looking to share in the financial success of the business they serve.

With increasingly long work hours and the need to juggle life and family demands with work, today's wishlist of staff benefits is no longer topped by the company car or country club membership. The online survey of 400 managers found that employee share plans topped the list (53 per cent), followed by professional development activities (51 per cent) and medical/dental benefits (48 per cent), reflecting the need for business to support the individual as a whole - beyond the monthly paycheck.

"A financial stake in a company's success is an obvious yet often untapped motivator for staff," said Brian Haverty, Editorial Director of BNET Australia. "In a competitive market for skilled and motivated staff, providing strategic benefit programs is one important way organisations can build their employer brand to prospective candidates. Today, Australian professionals are taking a more holistic view in what they value in staff benefits to help them grow professionally and support their lifestyle".

Just 13 per cent of respondents cited childcare as their most desired staff benefit; potentially revealing a greater propensity for managers to instead allow for more flexible work policies and hours for working parents.

The survey also revealed that the much touted company car was often seen as a status symbol and a key indicator of a professional's position on the management ladder but the increasing cost of petrol and vehicle maintenance has resulted in businesses tightening their belts on this particular benefit with just 16 per cent of managers issued with a vehicle for work purposes.

"Today's smart business operators need to work to support the financial, professional and wellbeing issues of its staff with tailored staff benefit packages," said Brian Haverty, BNET Australia. "In a competitive war for talent, the employment of strategic benefit and reward programs will inevitably result in more solid staff retention and a workforce that feels more adequately compensated for a job well done."

The BNET Australia reader survey was designed to provide an insight into the desired perks and policies Australian managers are looking for from their employers, giving insight into possible staff retention and attraction strategies in demand by employees.

Launched in May 2008, BNET Australia (www.bnet.com) offers the latest online information, features, advice, case studies and peer networking facilities to support Australian business managers as the go-place for management.

What are your most desirable staff benefits as a manager? (top three selections ranked by percentage):

Employee Share Plans 53%
Education/Professional Development Plan 51%
Medical and Dental Benefits 48%
Company Car 38%
Fuel Allowance 34%
Laptop 25%
Gym Membership 16%
Airport Lounge Membership 15%
Discounts 14%
Childcare 13%