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Employee benefits definition highlighted in green

Thanks to HLBR for sharing this Glassdoor survey highlighting the perks that employees most value. The benefits valued more than pay raises, in order are:

•Healthcare insurance (e.g., medical, dental): 40%
•Vacation/Paid time off: 37%
•Performance bonus: 35%
•Paid sick days: 32%
•401(k) plan, retirement plan and/or pension: 31%
•Flexible schedule (e.g., work from home): 30%
•Office perks (e.g., free lunch, casual dress): 19%
•Employee development programs (e.g., on-the-job training, professional development): 19%
•Tuition reimbursement: 18%
•Employee discounts: 17%
•Gym membership or wellness programs: 16%
•Stock, stock options and/or equity: 16%
•Paid parental leave (e.g., maternity leave, adoption assistance): 13%
•Childcare assistance (e.g., on-site childcare, financial assistance): 13%
•Commuter assistance (e.g., company shuttle, commuter checks): 9%
•Diversity program: 3%

^Of note 401K/Pension is 5th on the list at 31%, meaning that just under a third of employees value retirement benefits from employers more than increased salary. That isn’t 50%, but it shows that this is an issue that is top of mine for a lot of employees. Also ranking highly are PTO and sick leave, which are fast becoming government requirements and may become less of a potential differentiator for employers over time. Health insurance and performance bonuses also top the list, the latter of which employers may want to consider as performance bonuses are only prevalent in most industries at the management ranks.

…Just some interesting data I wanted to share.

Happy New Year HR Pros.

Best,

Rory

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