The most and least valued employee benefits
If you’re looking to hire top talent in a competitive job market, your employee benefits package could be key. About 60% of workers say benefits and job perks are a major factor in their decision to accept a job offer. And 80% would choose additional benefits over higher pay.1
While it’s clear that your benefits package plays a large role in recruiting and retaining workers, do you know which benefits are truly valued by employees?
Traditional benefits are the most appreciated.2,1
When given a choice between a high-paying job with fewer perks and a lower-paying job with more perks, these are the benefits that workers say would most frequently be taken into consideration:
No other benefit was chosen by even 50% of job seekers, including student loan assistance, paid maternity/paternity leave and free daycare.
Less traditional benefits lack popularity.
Since the tech boom, it’s been a growing trend to offer perks like table tennis, free food, laundry services and more.2 However, surveys find trendy benefits to be among the least valued — including team bonding events, on-site gym, weekly free employee outings, company-wide retreats and freebies like coffee, snacks and fitness classes.3
Additional surveys found:
Almost half of employees say they have never been asked by their employer about what makes a positive work experience.6 As you evaluate your benefits, ask your employees whether the benefits you offer are the ones they value most.
Sources:
1 https://hbr.org/2017/02/the-most-desirable-employee-benefits
2 https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2018/04/17/three-most-in-demand-employee-benefits-of-2018/#1de9d4fa5510
3 https://hbr.org/2017/02/the-most-desirable-employee-benefits
4 https://www.sagepeople.com/wp-content/uploads/2017/10/Why_your_workforce_is_not_working_Sage_People-Research_report.pdf
5 https://www.benefitnews.com/list/the-15-most-popular-employee-benefits
6 https://www.sagepeople.com/wp-content/uploads/2017/10/Why_your_workforce_is_not_working_Sage_People-Research_report.pdf
