"Pay may be one of the best communication and alignment tools available to Management"
The right benefit "burden" varies by country. It also depends on the industry, your budget, among other variables. Bear in mind that some countries have more/less government-sponsored benefits, as well as mandatory, which also influence your cost.
Benefits become a given if you don't remind them. Is this your case? If so, you may not only be losing a real competitiveness factor but also getting a lower return for your benefit invested money. Don't be afraid to remind employees once, twice and three times...
Benefits are locally driven. Premium plans are more valuable where medical costs for individuals are high, and there is no good option to private insurance. For example, employees would have a different perception where quality health care is government subsidized. The value that employees place on a benefit varies by country.
The concept of "Benefit" is not the same everywhere. For example, certain countries include allowances and some working tools. You may want to revisit how you are estimating your costs through this lens.
On the other hand, certain perks could indeed seem particular; be careful as these may not imply much cost or effort, but conversely they can be culturally valuable.
Let me offer a tip on cost savings: just by finding synergies and economies of scale (e.g. pooling vendors, fewer brokers, etc.) you could save a lot of money without compromising your offer.