Employee expectations continue to evolve, and today’s workforce is looking beyond salary when evaluating job opportunities. While competitive pay remains important, employee benefits have become a deciding factor for many candidates—and a key reason employees choose to stay with their current employer.
Multiple independent surveys show that benefits such as health insurance, retirement plans, financial wellness resources, and workplace flexibility play a significant role in recruitment and retention. For employers facing ongoing competition for talent, regularly evaluating benefits offerings can help strengthen workforce satisfaction and support long-term business goals.
Health and Retirement Benefits Remain Top Priorities
Research from Willis Towers Watson (WTW) found that nearly half of employees consider health benefits and retirement plans important factors when accepting a new position—a significant increase compared to 15 years ago.
Salary may still be the leading consideration, but benefits now rank close behind. Surveys from Franklin Templeton also found that employees consistently view compensation and benefits as the two most important aspects of a job offer.
Employees Want More Financial Wellness Support
Today’s employees are increasingly looking for benefits that support their overall financial well-being—not just retirement savings.
Some of the most requested financial wellness benefits include:
- Higher employer 401(k) matching contributions
- Access to financial advisors
- Financial planning resources
- Budgeting and savings tools
- Financial education programs
Retirement benefits also remain an important retention tool. WTW reports that nearly 60% of employees say retirement benefits influence their decision to remain with an employer.
Additional financial wellness offerings gaining popularity include:
- Wellness stipends
- Employer-supported emergency savings programs
- Student loan repayment assistance
Providing employees with education and resources alongside traditional retirement plans can help them better understand and maximize the value of their benefits.
Workplace Flexibility Continues to Be Highly Valued
Flexible work arrangements remain an important expectation for many employees.
Common priorities include:
- Remote or hybrid work options
- Flexible scheduling
- Additional paid time off
- Expanded sick leave
Workplace flexibility can also support employee well-being by helping reduce stress, improve work-life balance, and increase overall job satisfaction.
While every position may not accommodate the same level of flexibility, reviewing workplace policies can help employers identify opportunities that align with both business operations and employee needs.
Physical and Mental Health Benefits Are Increasingly Important
Health coverage continues to be one of the most valued employee benefits. Research indicates that many employees would even consider trading future salary increases for stronger health benefits.
Employees commonly value benefits such as:
- Preventive health screenings
- Wellness and health risk assessments
- Expanded dental coverage
Mental health support has also become an increasingly important part of a competitive benefits package. Employees are placing greater value on offerings such as:
- Mental health days
- Stress management resources
- Expanded coverage for counseling, therapy, and mental health medications
Supporting employee well-being can contribute to a healthier, more engaged workforce while demonstrating an organization’s commitment to its people.
Regular Benefits Reviews Help Employers Stay Competitive
Employee preferences will continue to change as workforce demographics, economic conditions, and workplace expectations evolve.
Conducting regular reviews of your employee benefits program can help ensure your offerings remain competitive, align with employee priorities, and support your organization’s recruitment and retention goals.
At Bender Insurance Solutions, we work with employers to evaluate benefits strategies that balance employee needs with business objectives. Whether you’re reviewing your current program or planning for future workforce needs, our team can help you explore options that support your employees while helping you manage costs over the long term.
This article is intended for informational purposes only and should not be interpreted as insurance, legal, or risk management advice.
