Advisers told to prepare for shift in 'worker cultures'

"Instead, benefits that focus more on employees as individuals and are about general support have been shown to be highly valued by employees – this includes insurances such as group life insurance or death in service cover."

Mr Farid said many companies were already looking for ways to improve their brand image while making a positive contribution to society.

He said: "Here, extra holiday days for volunteering can be a simple way to allow employees to give back to the community they and their company are part of - this is almost cost-neutral but can improve relationships between employer and employee and between employer and their local community."