Directors Clock Longest Hours for the Least Perks

Written by PayPerShop.com - Filed under: Press Releases on May 15th, 2008

Senior management enjoy more benefits than their director-level ‘bosses’

London – May 13 2008 - 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.

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.

Croner’s 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 – depending on personal circumstances and the levels of salary involved.

Business Director with Croner Reward, Andrew Walker, says: “These 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.

“So 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.”

About Wolters Kluwer
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal, and regulatory sectors. Wolters Kluwer has annual revenues (2007) of €3.4 billion, maintains operations in over 33 countries across Europe, North America and Asia Pacific and employs approximately 19,500 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Visit www.wolterskluwer.com for information about our market positions, customers, brands, and organisation.

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Filed under: Press Releases on May 15th, 2008