Management & Leadership

Here’s What Employees Are Looking for in Their Benefits Package

While salary is still an important and main factor in taking a job, the benefits package and perks offered by a company have become increasingly essential to job seekers and candidates when deciding to accept a position.

Health insurance, flexible schedules, PTO and other packages are now being considered closely as more professionals want to be able to take care of their health and wellness and maintain work-life balance. Which raises the question: what exactly are employees looking for when it comes to the benefits package? 

According to Forbes, benefits are critical to employee satisfaction. Forty percent of employers say they believe workers leave their job to find employment that offers better benefits and one in 10 workers would take a pay cut to have access to better benefits. Benefits go beyond salary, and are an important factor when it comes to motivation, job satisfaction and loyalty. 

Top Benefits Employees Want  

Here’s what your employees are looking for in their benefits package. Focusing on these could help you stay on top and retain talent. 

1. Employer-covered healthcare 

Forbes Advisor states that 67% of employees and 68% of employers believe this to be the most important benefit. Healthcare is expensive and professionals want to have peace of mind that if they need to see a doctor, they will be covered and will not have to worry about paying too much out of pocket.

Additionally, access to telehealth services is increasingly important as it can be very time-consuming to make appointments and try to find doctors in the area. When you have access to doctors over video chat and the phone, seeking help and advice becomes easier, especially to chat about any pressing concerns that can be quickly addressed over the phone. 

2. Pension and retirement plans 

34% of employees and 34% of employers agree that planning for the future is vital according to Forbes Advisor. As people enter the workforce and start planning for their own and their family’s futures, having good retirement plans and packages is a significant factor when considering a job.

People want to be assured that they will have a good savings plan and that after retirement they will be secure and able to live off what they have earned while in the workforce. 

3. Paid time off 

Part of maintaining a good work-life balance includes being able to take time off to recharge. Many professionals end up working all year and don’t even use their PTO. Professionals now seek good paid-time-off policies and want to make sure that the company encourages employees to take their vacations and breaks during the year.

Taking PTO without worry is extremely helpful in relieving stress, taking a break and tending to personal matters. Employees then come back to work rejuvenated and ready to focus. 

4. Mental health and wellness 

Having access to therapy and other wellness providers is another perk that employees deem important. With stress and burnout on the rise, they want to be able to manage their stress in healthy ways before it takes a major toll on their health.

Joining an organization that has company-sponsored wellness programs and access to programs is becoming a big perk more job seekers are considering now.

5. Flexible schedule options 

This is a big one. ADP found that seven out of 10 workers would like more flexibility with work schedules and 43% said it was an important consideration in their job search. Many employees want to be able to have flexible schedules, so they are able to not only focus one hundred percent on work but also tend to their personal matters and emergencies as they arise.

With flexibility also comes trust, and employees feel more valued and trusted that they can do their jobs without always being in the office. 

6. Expanded family leave 

Focusing on family has become increasingly important, so having a good family leave policy is important, especially for new families or people looking to start a family in the near future. While maternity and paternity leave are mandated by the law, having good family leave policies that extend beyond state laws will be appreciated.

Employees want to feel like they can still pursue their careers and have their income secured while they look after their children or other dependents.  

7. Employee development opportunities  

Everyone wants to move up in their careers and grow where they work. Development and growth opportunities are important because they help ensure that professionals continue to sharpen their skills, stay competitive in their fields, and are updated as the industry changes. PeopleKeep reports that 61% of employees value professional development benefits. However, only 40% of employers offer them.

Having education opportunities, learning stipends and other ways to promote and encourage your employees’ growth will definitely make you stand out as an employer and stay competitive when hiring new candidates. 

Benefits Packages Will Keep Evolving

Perspectives have changed with professionals as their priorities start to shift over time and circumstances. What might have worked in the past has changed significantly, especially since the pandemic. What professionals want from their employees keeps evolving, so consistently asking for feedback and understanding what will make your employees continue to work for the company is important. Not only does this help retain your best talent but also attracts new employees.

Looking to hire? From administrative, to finance & accounting, to technology and legal staffing, discover how our recruiters can help with your staffing needs.