December 7, 2018 | By Terri Williams – MultiBriefs
Employee benefits might be more important than you think. Smart companies are using them to attract and retain talent, and employees indicate that they prefer workplace benefits over a salary increase.
A report by the American Institute of CPAs (AICPA) reveals that by a margin of 4 to 1, American workers favor workplace benefits over an increase in salary.
According to a Randstad US report, 61 percent of employees say a strong benefits and perks package is the most important factor when considering job offers — and 61 percent would be willing to accept a lower salary if the company offered a great benefits package. And according to that study, 55 percent have actually left jobs because they found better benefits or perks elsewhere.
Perhaps that’s why a recent Gallagher report reveals that 45 percent of employers chose not to increase their employees’ costs for healthcare benefits.
So, why are benefits so important to employees, and which benefits do employees want?