What the most desired employee benefits in 2017?

Employee benefits are important to attract quality employees.  As the economy continues to improve in 2017, Florida’s small and mid-sized businesses must recognize that a competitive benefits package is necessary to attract and retain the right employees and fill critical positions.   If your company is not a high tech company and not trying to hire code writing millennials – do you need to even consider things like unlimited vacation, professional chefs, onsite massages, haircuts and free snacks and energy drinks?  In mid-February 2017, the Havard Business Review (HBR) reported on a survey that asked 2,000 U.S. workers, in a variety of age groups, to provide their level of importance for 17 common employee benefits.  How heavily would each benefit weigh on their decision between a high paying job and a lower paying job with more perks and benefits.  Survey respondents were asked to say whether the specific employee benefit had “some consideration” or  “heavy consideration” when taking a new job.

Here are the top fourteen (14) most valued benefits (based on the total % of heavy and some consideration from respondents) to convince a job candidate to choose a company:

  • Better health, dental and vision insurance – 88%
  • More flexible hours – 88%
  • More vacation time – 80%
  • Work from home options – 80%
  • Unlimited vacation – 68%
  • Student loan assistance – 48%
  • Tuition assistance – 44%
  • Paid maternity and paternity leave – 42%
  • Free gym membership – 39%
  • Free day care services – 39%
  • Free fitness/yoga classes – 33%
  • Free snacks – 32%
  • Free coffee – 30%
  • Company-wide retreats – 26%

In summary, employee benefits that impact a person’s lifestyle and finances (vacation, time off, insurance) are the most coveted by employees, while the in office freebees and goodies (food, snacks and drinks) are nice but do not drive decisions.  The survey organizers also determined that women were more likely to prefer family benefits like paid parental leave and free day care.  Men were more likely than women to value team building events and office snacks.  Both genders valued fitness related perks – but women preferred free fitness and yoga classes and men preferred on-site gyms and free gym memberships.   Overall, women (more than men) rated employee benefits as having a heavy impact on their employment decision, especially on insurances, flexible hours and work from home options.

Read the article from the Harvard Business Review.

Consultstu LLC provides fractional HR services to small/mid businesses to lower operational costs, improve business processes and comply with workplace regulations.  We deliver customized HR and safety solutions that provide protection from expensive mistakes and strategies to improve workplace results. Call us at 727-350-0370 or visit http://www.consultstu.com

HR Categories
1095C form300 Log401(k)8(a)(1)AccommodationAffordable Care ActAmericans with Disabilities ActArbitrationARPAAuditsBackground screeningBilingualBonusesBusiness ExpensesCannabidiol (CBD)CDCCDLCFPBcharityChild laborCHIP NoticeChristmas partyClearinghouseCOBRACommercial Motor Vehicle DriverCompany CultureCompany PropertyCompensationComplianceConcerted ActivityCONNECTConstructionconsultstuConsultstu TeamContagious diseaseCoronavirusCraft BeerDepartment of LaborDirect ThreatDisabilitiesDiscriminationDOTDownsizing and RestructuringDress CodeDriversDrug and AlcoholDrug Free WorkplaceE-VerifyEEO-1 FormEEOCEmployee benefitsEmployee HandbookEmployee IllnessEmployee InjuryEmployee MisconductEmployee PoliciesEmployee RecognitionEmployee ReferralEmployee RightsEmployment PosterERISAEssential functionsExecutive OrderExempt EmployeeExit InterviewFair Credit Reporting ActFair Labor Standards ActFall ProtectionFederal ContractorsFFCRAFinancial Well-beingFirearmFitness for DutyFlorida rulesFluencyFMCSAFMLAForm 5500Form W-4Fractional HRFTCGender Non-conformityGeneral HR QuestionsGoal SettingGPSGroup Health InsuranceHarassmentHiringHolidaysHR ComplianceHR CostsHR ResourcesHR softwareHSAHuman ResourcesHuman TraffickingI9 FormImmigrationIndependent ContractorIndividualized AssessmentInjury StatisticsInsuranceInterviewsInvestigationsIRSITAJob DescriptionJob PostJoint EmployerK1Leave of AbsenceLeaving a PEOManagementManagerMedical ExamsMedical Marijuanamental healthMilitary AppreciationMinimum WageMoraleNational OriginNew HireNLRBNo-match letterNon-complete AgreementsOnboardingOpioidsOPTOSHAOutplacementOvertimePaid LeavePay CardsPay or PlayPaycheck Protection ProgramPayrollPayroll Protection ProgramPerformance Improvement PlanPerformance ReviewPersonnel FilePost offer medical questionnairePostersPregnancyPublix Immigration CertificationReasonable AccomodationRecall LetterRecord KeepingRecruitingReligionRemote employeesRestaurantsResumeRetaliationRetentionRetirementRewardsRisk ManagementSafetySalaried employeesSBASection 7 RightsSelf AppraisalSick LeaveSMART goalsSocial MediaSocial Security cardStart upTaxesTemporary EmployeeTerminationTipped EmployeesTitle VIITPD BenefitsTrainingUnemploymentUniformsUSCISVaccinesVolunteerW2W4Wage and HourWellness programWork from HomeWorkers CompensationWorkplace MonitoringWorkplace ViolenceWrap Plans
Show All Categories
Show Less Categories
Need on-going HR support?
We have affordable HR retainers that offer a unique alternative to full HR outsourcing or the hiring of a full time HR employee. We design unique solutions to match your business strategy and budget. We have a proven track record of helping companies from many industries. We listen and probe to understand your needs and goals, before we offer recommendations and realistic solutions.
Contact Us Now