Benefits And Benefits Of Employee Benefits Essay example

830 Words Apr 13th, 2016 4 Pages
As the job market continues to climb, employers are faced with a job seeker 's market. This means that candidates with desirable work experience are able to be more selective than they were in years prior. Companies interested in courting candidates with phenomenal skill sets have to offer competitive compensation packages. Today, the importance of employee benefits is higher than ever before, as indicated in a recent Glassdoor study reporting 57 percent of respondents agreeing that benefits and perks were among their top considerations before accepting a job. With Gen Y comprising majority of the workforce, it 's critical that organizations focus on getting competitive with the benefits that matter most.

Top employee benefits
Interestingly enough, Glassdoor found that employees seek additional benefits in lieu of a pay bump. According to their Q3 2015 Employment Confidence Survey, nearly four in five (79 percent) of employees would prefer new or additional benefits to a pay increase. More importantly, the survey found that younger employees, ages 18-34, value benefits over pay increases more than any other age group, as 89 percent of those surveyed preferred additional benefits. So what are those benefits that matter most to your employees? According to the same study, Glassdoor found the top 5 benefits that employees want over pay include.

Healthcare insurance (e.g., medical, dental): 40%
Vacation/Paid time off: 37%
Performance bonus: 35%
Paid sick days: 32%

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