Industry experts have determined that benefits are growing in importance to job searchers. A new study suggests that 57% of prospective employees rate perks and benefits as major considerations when accepting or declining a job offer. Workplace trends have gotten lots of media attention, with more employers feeling the need to get creative with perks and allow flexibility in all aspects of work, but does that represent what the majority of employees are looking for?
Which benefits do your employees want?
According to the research, employees still value vision and dental over pizza Fridays and free yoga classes. The study suggests that traditional benefits still rank highest in priority to job seekers. These include healthcare, paid vacation and sick time, performance-related bonuses, and retirement plans. In addition, 80% of employees indicated they would choose an added perk over a raise.
Some new perks that have real value are college tuition reimbursement and paid maternity/paternity leave. These benefits are being embraced by some larger companies and tech businesses, and they have already shown success in attracting the industry’s best employees. The popularity of perks is noted in the recruiting phase, as it can help get top talent in the door, but retention depends more on leadership, company culture, and opportunities for advancement.