Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

how employee benefits packages impact your business.

3,015 views

Published on

Employee benefits affect our personal lives, so it comes as no surprise that they weigh heavily on the minds of job seekers. In fact, our Benefits and Perks in the Workplace study revealed that benefits not only have the power to drive employees away, but can help attract new talent, too. However, employee preferences are evolving, so it’s a good idea to to review your benefits package and ensure it’s aligned with the latest workplace trends.
https://randstad.us/2szeUSV

Published in: Business
  • Got a new Iphone 6 in just 7 days completing surveys and offers! Now I'm just a few days away from completing and receiving my samsung tablet! Highly recommended! Definitely the best survey site out there! ●●● http://t.cn/AieXAuZz
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Be the first to like this

how employee benefits packages impact your business.

  1. 1. the 2018 benefits and perks in the workplace study how employee benefits packages impact your business.
  2. 2. © Randstad North America, Inc. 2018 | 2| of the more than 700 workers surveyed, less than half (39%) said they were satisfied with the employee benefits their companies offer.
  3. 3. © Randstad North America, Inc. 2018 | 3| as a result, employees are leaving. 42% of employees said they are considering leaving their jobs because of inadequate benefits packages. 55% said they have left jobs in the past because they received better benefits elsewhere.
  4. 4. © Randstad North America, Inc. 2018 | 4| in such a tight labor market, can you afford to lose employees due to an inadequate benefits offering? © Randstad North America, Inc. 2018 | 4
  5. 5. © Randstad North America, Inc. 2018 | 5 what about the role of benefits in attracting new talent?
  6. 6. © Randstad North America, Inc. 2018 | 6| employee benefits are a top consideration for job seekers. willing to accept a lower salary if a company had a great benefits package a strong benefits and perks package is the most significant factor in determining whether to accept a job offer 66% 61% 0% 20% 40% 60% 80% 100% © Randstad North America, Inc. 2018 | 6
  7. 7. © Randstad North America, Inc. 2018 | 7| what benefits do employees really want? © Randstad North America, Inc. 2018 | 7
  8. 8. © Randstad North America, Inc. 2018 | 8| 33% 26% 23% 22% 18% 15% #1: onsite amenities to maximize time-in-office. What are some of the most highly rated perks that employees would like to see in the workplace? early Friday releases flexibility and remote working options onsite amenities such as gyms and dry cleaning unlimited vacation time stocked food pantries or in-office food courts onsite childcare
  9. 9. © Randstad North America, Inc. 2018 | 9| #2: investment in their future. employees who said they wished their organizations offered 401(k) plans, retirement plans and/or pension plans employees who said their organizations don’t provide paid maternity/ paternity leave 34% 19% 18% employees who said their organizations don’t offer life insurance
  10. 10. © Randstad North America, Inc. 2018 | 10| 94% 31% 35% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% #3: packages that enhance quality of life. said they would like to see their employers update their benefits packages in ways that meaningfully impact their quality of life said that their companies’ benefits and perks have enhanced their overall physical and mental well-being 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% responded that their companies’ benefits packages did not support their personal obligations (e.g., around family life, paying off student loans, work flexibility, etc.) 94%
  11. 11. © Randstad North America, Inc. 2018 | 11| #4: benefits tailored to different life stages. 41% of employees aged 18 to 24 said their organizations don’t offer employee benefits to help them pay off student loans. 35% of the same group also said they wished their employers offered tuition assistance (i.e., programs in which employers partially or fully subsidize degree programs). employees over 50 years of age cited health insurance as the top benefit they wished their employers offered.
  12. 12. © Randstad North America, Inc. 2018 | 12| #5: greater communication and education. 40% of employees said their employers help them understand all the benefits that are available through their health insurance programs. 48% said they know about or take advantage of all the corporate perks offered by their employers. 32% said their employers communicated to them the monetary value of their employee benefits packages when they were hired.
  13. 13. © Randstad North America, Inc. 2018 | 13| “With the rise of the agile workforce and flexible work arrangements, the lines between ‘home’ and ‘work’ are increasingly blurred. But what’s telling is that, although employees clearly express a desire for more freedom over where and how they work, when they are in the office, they take that time very seriously. That’s why onsite amenities that make the workplace as comfortable and convenient as possible are still so attractive.” Jim Link, Chief Human Resources Officer, Randstad North America © Randstad North America, Inc. 2018 | 13
  14. 14. © Randstad North America, Inc. 2018 | 14| key takeaways. Customize benefits based on employees’ generational preferences and personal needs. Listen carefully to what employees say about your company’s benefits and perks during performance reviews and exit interviews and make adjustments when possible. Provide greater education about the advantages of your company’s benefits and perks packages. © Randstad North America, Inc. 2018 | 14
  15. 15. © Randstad North America, Inc. 2018 | 15| survey methodology. Research findings are based on a survey conducted by Research Now on behalf of Randstad US between April 9 - 13. It included 756 respondents over the age of 18 and a nationally representative sample balanced by age, gender and region. Visit Randstad’s workforce360 for additional tips, or contact a local Randstad consultant. © Randstad North America, Inc. 2018 | 15

×