Zest customers spending £70m per month on benefits packages

Customers of employee benefits technology provider, Zest, are spending £70.1m on employee benefits packages each month, up 8% from £64.7m 12 months ago as employers increasingly invest in reward offerings.

Employers are saving £7.8m per month in National Insurance contributions through partnering with Zest, an 18% increase from £6.6m 12 months ago.

These savings are due to increased employer investment in taxable benefits which reduces employer National Insurance contributions whilst delivering increased value to employees. 

Reward packages are becoming more important to employees – six in ten (58%) employees say that they’d leave their current job if another company offered them better perks. This has led to four in ten (37%) of all UK businesses increasing investment in their benefits offering during the last 12 months. 

Well known customers who have signed new contracts to join the Zest platform over the last six months include:

• Mobilize, part of Renault group 
• Energy company RWE
• Luxury goods company Kering
• Pharmaceutical company Boehringer Ingelheim UK

In Q2, Zest announced its acquisition by Epassi Group, one of Europe’s leading providers of employee benefits technology. The strategic acquisition marked a significant step in Epassi’s continued expansion across Europe, supporting the company’s vision to be the leading European tech platform for the employee benefits and engagement ecosystem.

Matt Russell, CEO, Zest comments: “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. 

“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.” 

Zest is an employee benefits technology company with over 500 customers, including Hargreaves Lansdown, Taylor Wimpey and Yahoo, serving over 300,000 employees. Its multi award-winning platform offers a fresh approach to truly flexible employee benefits. 

Employers can use Zest’s ROI Calculator to learn more about potential savings on employer NI contributions as well as approaches to reduce talent loss and boost productivity: https://www.zestbenefits.com/roi-calculator/.