The most commonly offered benefit by retailers is a cycle-to-work scheme. Credit: one photo via Shutterstock.

Equity management platform Vestd has released its Employee Benefits Index, finding that the UK retail industry is at risk of falling behind other sectors in its benefits offering to employees.

Vestd used Indeed to search for 20 common benefits found in job descriptions and filtered the results by industry. The resulting number of jobs listed were then divided by the total number of jobs currently listed in the UK on Indeed.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

To create the overall ranking, Vestd gave each industry a weighted score out of 100, based on the percentage of jobs that had each benefit, and totalled up the scores to give a rating out of 2000. The higher the score, the better the benefits packages offered in that industry.

The retail and wholesale industry scored only 345 out of 2000 in the Index.

After analysing more than 25,799 job descriptions, the most commonly offered benefit by retailers was a cycle-to-work scheme.

See Also:

Retailers also scored well in providing employees with share options as part of compensation packages.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Vestd CEO and co-founder Ifty Nasir explained: “Given the cost of living crisis, employees are now on the lookout for tangible benefits that offer a true reward for their hard work or help them to achieve their day-to-day duties in the role.

“It’s interesting to see the likes of retail and hospitality among the biggest providers of share options and expected industries but it certainly draws attention to the need of other industries to follow suit.”

The UK retail industry is also currently being hit by an epidemic of crimes committed against frontline staff, which can further deter prospective job applicants.