Which benefits do employees value the most?

We’re living in a world where employee benefits are perhaps more varied than ever before. Those who work at Google reportedly enjoy free childcare, massages and even napping areas at work, whilst employees at Dropbox are provided with a stir fry bar, yoga sessions and Razor scooters to allow them to move around the workplace more quickly. Netflix, meanwhile, is one of several US companies which apparently offers its workers an unlimited amount of paid holiday.

But, whilst these perks might make these sound like dream places to work, are these the kind of benefits that employees truly value? Recent research suggests that what most people want from their employer is in fact a lot more straightforward. Read on to find out the benefits with the highest value amongst employees, to help ensure that what you’re offering the people in your company is in line with what they actually desire.

Retirement plans – A recent survey found that over 90% of respondents rated a retirement plan as their most valued employee benefit. It’s perhaps unsurprising that most people rank the knowledge of a secure future higher than anything else. Offering a retirement plan that meets your employees’ needs and expectations is therefore particularly important.

Life insurance – Knowing that your family and those in your care will be looked after should the worst happen to you is something that offers considerable peace of mind. Life insurance is a clear and open way to offer that to your employees and it’s something that more and more benefits packages now include.

Paid leave – The most common form of employee benefit today, with around four in five benefits packages including some form of paid leave. Perhaps a perk that many take for granted because of this, the fact that offering paid leave helps workers achieve financial stability whilst allowing them to take time off for holidays or health reasons without worry still makes it a benefit that is highly valued.

Telecommuting – Being able to work from home whilst also being able to access work directly from a home computer has become increasingly valued in recent years. The plus points of being able to do this include saving time and money on transportation, as well as easing the strain of other concerns such as childcare. As the stock of telecommuting continues to rise with employees, it’s a perk that is being offered more and more commonly within benefits packages.

For more information regarding any employment issues, or to arrange an appointment with our expert Employment Law solicitors, call 0330 017 6309* or email info@bannerjones.co.uk.

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