Flexibility or remote working options and paid family leave or time off are the most-wanted work perks amongst US workers, according to new research from employee benefits provider Unum.
Despite less travel due to Covid-19, paid time off is the most-wanted work perk for the third year in a row. The national average of paid time off for US workers after a year of service is just 10 days per year; compared to 20 days in most European countries. “Paid time off is so important for employees’ mental health,” according to Rob Hecker, Vice President of Global Total Rewards at Unum. “It allows them to rest, recharge and return to work more productive.”
The research suggest that paid family leave more important to women. Although both men and women rank paid family leave as the number three most-wanted benefit, it’s more important to women (27%) than men (21%). More than 75% of all caregivers are female, and women are dropping out of the workforce at record rates due to the pandemic, as reported. Intervention, finances and identity protection benefits are also rising in popularity.
Employee assistance programmes, which help employees with personal problems, jumped from twelfth position in 2019 to number serven this year. Financial planning resources are in the top five perks for the first year. Identify theft protection jumped three spots to number eight, and is the top-rated perk for Gen Z.
TOP EMPLOYEE BENEFITS
The top 16 non-insurance benefits for US workers, include:
- Generous paid time off (35%)
- Flexible/remote working options (27%)
- Paid family leave (24%)
- Fitness or healthy lifestyle incentives (19%)
- Financial planning resources (18%)
- Professional development (17%)
- Employee assistance program (17%)
- ID theft protection (15%)
- Gym membership or onsite fitness center (12%)
- Onsite healthy food options (10%)
- Student loan repayment benefits (9%)
- Personalized health coaching (8%)
- Sabbatical leave (7%)
- Public transit assistance (7%)
- Pet friendly offices (6%)
- Dedicated volunteer hours (6%)
LEAVE STRATEGY
Another Unum survey of more than 400 employers carried out this summer, found that 44% of companies plan to expand paid leave benefits next year. “It’s important to look holistically at your paid leave strategy,” stated Hecker. “You should have a diverse portfolio of paid leave options to meet the needs of diverse employees.” Unum experts predict paid leave will remain critical after the pandemic eases as more employees are asking for it.
The findings of a recent global survey on the impact of Covid-19 also revealed that staff now expect more transparency and flexibility from their employers. Click here to read more.
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