Offering popular benefits can draw talent to your organization like a magnet.
Fully company-paid medical insurance is at the top of employees’ benefits wish list, according to a new survey. Only 23% of employees said they are lucky enough to enjoy this perk, while 59% said don’t have it but want it. Partially company-paid medical insurance doesn’t cut the muster, as 56% said they have it and only 5% who lack it said they want it. Schedule flexibility and the ability to work from home also made the list of perks employees yearn for.
Among other findings:
· Only 13% of employees have fully company-paid dental insurance, while 53% said they want this benefit.
· 12% said they currently have fully company-paid vision insurance, while 47% who don’t have this benefit said they want this.
· While only 9% said they enjoy a four-day workweek, over half—53%–said that this is a benefit they would like to have.
· Just 4% of employees said they have unlimited paid time off, while 52% said they wished their employer offered this benefit.
· 28% said they have the ability to work from home at least part-time, but 40% said they would like this perk; and 31% said they would like flexible schedules as well.
The survey included some surprising findings. Only 19% of employees who don’t currently have access to a 401(k) or retirement savings program are interested in this, while 37% said they would like free snacks. Just 18% of employees who don’t get paid parental leave said they would want this benefit, while 31% said they would like nap breaks; and 25% said they would like a pet-friendly office.
The numbers were similar across job categories—entry-level, intermediate, middle management, and senior management/executive–in many areas. For instance, all categories of workers generally agreed that they would like in-office perks such as free coffee, a game room, or a gym. Employees across the board also agreed they would like more time off and additional compensation opportunities. However, while 71% of entry-level employees said they would like flexible scheduling, only 49% of senior management/executives were interested in this perk; and nearly twice as many (36%) entry-level employees as upper management (18%) said that student loan reimbursement would be an attractive benefit.
Interestingly, older generations and millennials agreed for the most part about the value of benefits such as in-office perks, time off, flexible scheduling, additional compensation opportunities, and transportation benefits. However, not surprisingly, younger workers expressed more interest in benefits such as student loan reimbursement and child care assistance.
Perks that employees at all levels and of all ages said they have very little interest in include company retreats, charitable donation matching programs, and company memorabilia.