Business bosses believe their employees are not satisfied with their current benefits package, according to research.

A survey by MX Financial Solutions found only one per cent of the employers felt their staff were "extremely satisfied" with what they provided.

Almost three quarters of employers (74 per cent) felt there was room for change in their current benefit packages.

A further 40 per cent believed employees would welcome more flexibility and a wider range of benefits.

Thirty-two per cent thought increased flexibility would increase staff retention but 31 per cent of respondents had not considered introducing such a plan with additional costs and red tape seen as the two main barriers.

Thursday May 1 2003