Marvin OnumonuCustomers of Zest spent £70.1m each month on employee benefits packages, up from £64.7m a year ago.
Employers using Zest also saved £7.8m per month in National Insurance contributions (NICs), up from £6.6m 12 months earlier.
These savings came from higher investment in taxable benefits, which reduce employer National Insurance bills and give more value to employees.
Research found that 58% of employees said they would leave their job if another company offered better perks.
Due to this, 37% of UK businesses increased their benefits spending in the last year.
Matt Russell, CEO of Zest and Epassi UK, said: “Employers are increasingly investing in benefits packages as a cost-effective way to attract, retain and reward employees when pay raises and bonuses may not be possible.
“Without a strong reward offering, organisations will find themselves at a massive competitive disadvantage as employee demands around benefits packages continue to evolve.
“In order to offer more personalised benefits, employers need access to platforms that allow them to easily administer packages and effective communication channels to drive engagement.”
Russell added: “Benefits packages also offer organisations an approach to tackle the burden of increased NI contributions – investment in this offer can reduce operational costs, increase productivity and support talent attraction and retention.”
