By Pension and Benefits Editorial Staff
Over half of employees (55 percent) said that health insurance is the most important benefit in terms of their job satisfaction, according to recent research from small business consultant Clutch. However, the survey found that 23 percent of full-time employees do not receive any benefits from their employers.
“If you offer health insurance, it will benefit you because you’ll have more productive, healthier employees,” said Lisa Oyler, human resources director at Access Development. “People are a valued asset. Offering these benefits and educating employees on how to utilize them is an investment in workers and in their long-term health.”
However, the survey found differences in how different generations value benefits. Only 44 percent of Millennials (ages 18-34) name health insurance as the most important benefit they receive, while 62 percent of Generation X and baby boomers say it is most crucial. Nearly a quarter (23 percent) of Millennials say that paid vacation time is their top priority, while 14 percent of Generation X and only 12 percent of Baby Boomers say the same. Clutch noted that employers can cater to their younger workers by creating flexible vacation policies that provide a base number of paid vacation days.
The survey also found the following:
- Paid vacation time (65 percent) and health insurance (62 percent) are the most commonly offered benefits.
- Only 21 percent of full-time workers receive paid parental leave, and just 8 percent receive some kind of child care stipend.
- Most employees (52 percent) who are not satisfied with their benefits want more of a benefit they already have, and 14 percent want different benefits altogether.
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