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BCL Legal – the legal recruitment consultancy which operates across the UK from its offices in Manchester, Leeds, Birmingham, Liverpool, Bristol & Reading – has conducted a comprehensive survey looking at the benefits offered by law firms, outside of London and the South East, to their employees. The results showed that the overwhelming majority of practices have left their bonus & benefit packages unaltered despite the tough economic climate. 91% of bonus schemes are intact whilst 87% of benefit structures remain in place.
Over the past two months, BCL Legal has contacted 400 law firms asking various questions. From the survey, 52% of respondents confirmed they offered pension contribution schemes to their employees and for the majority it averaged between 1% and 3%. However, 17% offered between 4% and 7% and none exceeded 13%.
40% stated that they provided private medical insurance. The other key finding showed that 92% offered no income protection scheme but it was in excess of 50% of salary by the firms that did.
Vicky Clark, director of BCL Legal, said; ‘Some of the statistics from the survey are surprising as we would have expected more firms to have cut back more on the benefits and bonuses they offer. I suspect a number of personal injury firms/ departments will be considering their bonus schemes in light of the impending changes next year. Overall though it shows the majority of businesses see employees as long term future assets which can be a boost to morale and productivity.’