Each year, Allgo conducts an in-depth survey of HR Leaders and Senior HR Managers to get an insight into HR challenges, priorities and trends in the year ahead.
249 HR Professionals completed the survey this year, and with all the changes in the last 12 months, there were some interesting insights gained.
Here below are the top factors that will affect Pay and Benefits in 2021.
This year, wage inflation is expected to be less than in previous years. HR professionals are forecasting wage inflation to be around 1.5%. This figure is down from 3.6% in 2020 and 4.2% in 2019.
Most Popular Financial Benefits -
1. Bike to Work Scheme
According to our survey over 90% of companies now offer the Bike to Work Scheme, making it the top Financial Benefit offered to employees for the 2nd year in a row.
2. Paid Sick Leave
The second most popular financial benefit offered by the companies surveyed is Paid Sick Leave. Paid sick leave is now offered by 75% of companies.
3. Paid Education and Training
According to our survey the third most popular financial benefit offered to employees is paid education and learning. This benefit is growing in popularity with employees currently working from home. With the time that employees spend commuting cut down they have more time and more enthusiasm to enhance their skills.
4. Company-Contributed Pension
This year, we see the fourth most popular financial benefit being offered by companies being a Company-Contributed Pension. In 2020 Company-Contributed Pension ranked as the second most popular non financial benefit.
HR Trends 2021
Download the full survey report for invaluable
insights into HR challenges and predictions
in the coming year.
Download now at https://info.allgo.ie/hrtrendsreport2021
Most Popular Non-Financial Benefits -
1. The Christmas Party
For the second year in a row we see the Christmas Party being the most popular non-financial benefit being offered by companies. According to our survey 80% of companies are now offering a Christmas Party for staff.
2. Wellness Services
Not unexpectedly giving the current health crisis, Wellness Services are the second most popular non-financial benefit in 2021. HR Professionals are naturally focusing on Employee Health and Wellbeing- both in the workplace and in remote settings. And in particular, employee Mental Health is of great importance this year.
3. Remote Working
Remote Working has risen from 5th most popular non-financial benefit in 2020 to 3rd in 2021. Almost half of all HR Professionals are expecting these new forms of working to become a permanent fixture in the workplace in 2021. Within the whole area of Remote Working, the expectation is that the pandemic will accelerate the trend towards Flexible Working (which was the main prediction in last year's, pre-pandemic survey)
Full List of Financial and Non-Financial Benefits 2021
Download the HR Trends Ireland Report 2021
Based on a survey of 249 HR Leaders and Senior HR Managers, this report highlights the challenges and trends in HR for 2021. Download it for free today by clicking the Download Now.