Research conducted jointly by Specsavers Corporate Eyecare and Pay & Benefits magazine today reveals how many companies and organisations are paying over the odds and still failing to fully benefit from corporate eyecare provision.

• One-fifth of employers failing to comply with regulations
• 62% still using higher-cost processes
• 81% under-value worth of additional benefits

The research took place among 223 heads of organisations, in both public and private sectors. It shows that, contrary to health and safety regulations, a staggering one-fifth (20%) of employers have no eyecare policy in place at all; an omission that could leave them open to extensive penalty. Beyond this are the significant cost-saving and value-adding opportunities that are being overlooked.

The often higher-priced option of reimbursing through expenses is still used by 42% of employers. Although a shrewd one-third (33%) of employers do purchase eyecare vouchers, they are not necessarily enjoying the full advantages. Some 60% are not aware of any of the additional benefits available with eyecare vouchers. Only 29% are aware of discount vouchers for money off glasses for employees and just 5% are aware of discounts for employees’ families. A tiny 4% are aware of two-for-one offers and no-one was aware of free upgrades, such as designer frames or reactions lenses.

Almost half (47%) of respondents believe these additional benefits have a monetary value of less than £30 and 81% believe it is less than £60. In fact, the worth of additional free goods and services may be up to £82 per employee from some corporate eyecare suppliers.

Jim Lythgow, director of strategic alliances at Specsavers Corporate Eyecare, says: ‘Our research shows that a greater knowledge of corporate eyecare could result in more affordable, administratively-simpler options and the ability to offer employees increased, tangible benefits.’

Once made aware of the additional benefits available with corporate eyecare, employers could immediately see the worth they would have for staff. Over three-quarters (77%) believe that discount vouchers for money off glasses for employees would be or are of value to their staff. Despite this, 62% did not know what additional benefits they currently receive from their eyecare provider.

Kavitha Sivasubramaniam, Editor of Pay & Benefits, said: ‘There is clearly an awareness vacuum when it comes to eye care policies among employers. Understandably, it can be seen as one more factor to contend with when faced with a maze of health and safety red tape. However, there is a genuine financial benefit to eye care policies that could be a real boost to businesses in the current economic climate and beyond.

‘Employers are effectively throwing money down the drain by reimbursing staff eye care costs via expenses, while those that do utilise eye care vouchers are not fully taking advantage of the additional benefits that come with it.

‘Businesses could do well to look at how employee benefits in general can be used as an efficiency tool instead of a secondary concern.’

When considering aspects of service from an eyecare provider, three-quarters (75%) stated that being a one-stop-shop, from eyetest through to dispensing glasses, was the most important. Perhaps surprisingly in the current economic climate, only 18% of respondents see cost as being of the utmost importance when choosing an eyecare provider.

With visual display units of some kind or another now in use in virtually every working role, the Display Screen Equipment regulations make company-funded employee eyecare obligatory for practically all staff. Seeking the best provider, so that cost-savings and added benefits are received, can turn this obligation into a rewarding opportunity for employees and businesses alike.

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Pay & Benefits is a full-colour, monthly magazine that provides a comprehensive and reliable news summary and a detailed analysis of the latest payroll and employee benefits developments. Experts keep you up to date with all the relevant changes to legislation and case law, while in-depth articles help you resolve any technical difficulties with PAYE, NICs, SSP, SMP, P11D completion and much more. Pay & Benefits provides all the information industry professionals need to keep ahead of any developments and to make the right choices for their employees. For more information visit www.payandbenefitsmagazine.co.uk