Employees working at senior management level enjoy more perks than their higher-ranking colleagues, according to a new report from Croner, the leading provider of workplace information and consultancy services, part of Wolters Kluwer UK.
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The latest Employee Benefits report by Croner Reward shows that it pays to be in senior management as they work anything up to 12.5 hours less than directors and operative staff but gain more in benefits.
Cronerís findings show that 80 per cent of managers of large-sized companies get a company car with a list price average of 25,525, two per cent longer service holiday increment than operative staff, 1 more for breakfast, 5 more for dinner and 18 more for overnight business trips.
Furthermore, 72 per cent are in a final salary scheme as opposed to 49 per cent and 39 per cent of directors and operatives respectively. Another benefit for senior management is that they pay less in tax than their directors possibly resulting in better overall salaries and pensions ñ depending on personal circumstances and the levels of salary involved.
Business Director with Croner Reward, Andrew Walker, says: ìThese latest results are very much in line with the patterns that we are seeing across terms and conditions generally. Directors are in reality working longer hours than their colleagues at manager level, yet they are in turn receiving less in benefits.
ìSo while managers are contracted to work fewer hours and are generally getting more holiday entitlement than their colleagues at different levels, they do seem to be gaining in terms of a range of other fringe benefits. But we need to look at the results over the next few years to see whether this is a long-term trend, or just part of the changing dynamics in the workplace.î
Directors Clock Longest Hours for the Least Perks
Senior management enjoy more benefits than their director-level ëbossesí
