Dive Brief:
- According to research from the Employee Benefit Research Institute (EBRI), 36% of workers say that the benefits package at work is extremely important, while 41% say it’s very important.
- Yet, reports BenefitsPro.com, how much people value benefits doesn’t always mean that employees are satisfied with their current benefits options/packages. And, if they are unhappy with those benefits, they may start looking for their next employer.
- EBRI said in its report that “22% of workers report they have accepted, quit, or changed jobs because of the benefits, other than salary or wage level, that an employer offered or failed to offer.”
Dive Insight:
Other EBRI survey results indicate that only 14% of employees are "extremely satisfied" with benefits, and 37% are "very satisfied," which combined is just more than half the workers surveyed. Another 30% are only "somewhat" satisfied. The final 20% are either "not too" satisfied (11%) or "not at all" satisfied (9%).
Of particular concern to employers, says the Benefits Pro article, EBRI research also found that job satisfaction and employee morale are strongly correlated with benefits satisfaction, clearly demonstrating the critical importance of ensuring that HR and benefits leaders are giving their workforces the benefits they want and need most.
For example, EBRI found that 54% of those "extremely satisfied" with benefits are also "extremely satisfied" with their current job, compared with only 20% of those who are "very satisfied."
