The top three non-insurance employee benefits US workers want are paid time off (PTO), flexible work options and paid family leave, according to new research.
For most employees in the US, generous PTO and flexible or remote work topped the list in 2022, confirmed employee-benefits company Unum. But what workers want differs by generation with mental health resources/support topping the list for Millennials (39%) and Gen Z (42%).
The research also highlighted that Boomers, Gen X, Millennials and Gen Z have different priorities and needs. “A multi-generational workforce is a huge benefit for companies,” said Liz Ahmed, Executive Vice President of People and Communications at Unum. “With the diversity of background, experiences, and thought employees bring, employers need to make sure there’s something in their benefits package for everyone’s different stage of life.”
Although the generations differ in their top three priorities, when opened to the top five, there is one common denominator: emergency savings. Around 64% do not have access to an emergency savings option through their employer. This benefit ranks third for Boomers (25%), third for Gen X (32%) and second for Gen Z (37%). Emergency savings, however, can help prepare for unexpected expenses – without dipping into retirement or using credit cards.
TOP 15 EMPLOYEE BENEFITS
The top 15 non-insurance benefits for US workers include:
- Generous paid time off programme (39%)
- Flexible/remote work options (32%)
- Paid family leave (for childcare or caring for adult family member) (31%)
- Mental health resources/support (30%)
- Emergency savings (28%)
- Professional development (18%)
- Financial planning resources (18%)
- Fitness or healthy lifestyle incentives (15%)
- ID theft prevention (14%)
- Gym membership or onsite fitness centre (12%)
- Student loan repayment benefits (9%)
- Pet-friendly offices (7%)
- Personalised health coaching (6%)
- Sabbatical leave (5%)
- Dedicated volunteer hours (3%)
BENEFITS TO RETAIN TALENT
To be competitive in the talent market space, employers should prioritise better work-life integration, the report concluded. Employers should also continue to provide affordable and accessible benefits – if they don’t already – to fit personal or family structures.
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