Forget free snacks: Here are 7 benefits that employees want.
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If you want to attract top talent, they will often choose the companies that offer the best benefits packages. What benefits are the most important for employees? Here are seven benefits that employees look for.1. Family-Focused Benefits
Today, many employees look for employers with paid parental leave. The Bureau of Labor Statistics reports that only
27% of employees in the private sector have paid leave.
Additionally, adoption benefits, such as adoption leave financial assistance, and coverage for fertility treatments are of high priority for many employees. According to the International Foundation of Employee Benefit Plans, 42% of companies provide fertility benefits.2. Retirement Plans with Matching EmployerMany workers are aware that planning for retirement is important to their financial future. Retirement benefits with employer matching not only set employees up for better futures, but also provide significant tax advantages for businesses. Employers can deduct up 25% of the 401k compensation for employees.
3. Flexible Schedules
Many employees have voiced the desire for a condensed work week, such as a 4-day week. There are other ways to provide flexible schedules. While this may not be the best option for every business, it is still possible. The Global Work-Life Survey revealed that 41% in-office employees are burnt out, but only 26% remote workers. Remote workers are also more satisfied than office employees. Flexible working environments lead to happier, healthier and more productive workers.
4. PTO that is flexible and generous
Along these lines, employees are looking for companies who offer unlimited or generous PTO. According to the SHRM Employee Benefits survey of 2024, only 7% employers offer unlimited paid leave. The number of employers offering unlimited paid time off is on the rise as employees demand a better work-life integration. It is a great opportunity to differentiate your company from the rest by offering generous PTO plans.
5. Comprehensive Health Insurance
A study by SHRM revealed that 56% Americans with employer-sponsored benefits in their benefit packages consider the health coverage as a major factor when choosing to stay in their current position. Health insurance was important to 46% of Americans when they chose their current job.
6. Student Loan Repayment AssistanceConsidering most employees carry some kind of student debt, one of the benefits most important to employees is student loan repayment assistance. As of January 2025 approximately 42.7 million Americans will have federal student loans and carry an average amount of $40,000 in debt. Paycor’s studies indicate that 86% would stay with an employer for 5 years if they offered to help pay student loans.
7. Mental Health and Wellness Benefits
Implementing mental health and wellness benefits can have a great return on investment as well as boost employee morale and health. Consider offering programs like a gym reimbursement, a stipend for purchasing books, health coaching, and access to counseling.
What benefits do you think are most important to employees? Share your thoughts in the comments.
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