Many people now find themselves immersed in a culture of long working hours and this can often lead to high levels of stress and anxiety. It is essential for employers to take this into consideration when implementing benefits, hence assuring staff of the importance they place on welfare. Around 35 per cent of IFSC companies operate mortgage facilities for their employees. The general requirement is an average of two years of service and rates of interest average at a value of about 4 per cent. This facility can vary depending on an employee's level of seniority within the institution.
Personal loans are another benefit being offered to staff, by many financial institutions.
The criteria for allocating personal loans, varies from one company to another, as does the amount available. 21 per cent of companies offer all staff personal loan facilities at an average rate of 5 per cent. Other benefits available to staff in many Irish companies include life assurance, share option schemes, club subscriptions, education expenses and study leave for trainee employees. Careful planning and managing of reward strategies is essential and staff awards are presented in many companies for outstanding performance. These are payable either in days off, or once off payments.