In a study conducted in August of 2021 by employee benefits provider, Unum, more than half of the workers said that they are more likely to stay with their employer because of the benefits. As employers scramble to hold onto employees, this is good news.
Due to the myriad of factors surrounding the pandemic, this is the year that many employees are taking a much closer look at their benefits. Over half (57%) of workers say they will enroll in benefits they were not enrolled in last year, according to this study.
Looking at the age group, of the 66% of workers that are more interested or aware of the employee benefits their company provides, Millennials came in at 78% with Gen Z following at 73%.
The issues that drew the most concern were planning their family’s financial need (68%) and concern over mental health benefits (42%).
Other issues that are important are paid time off (37%) and family leave (36%).
So back to why this is good news. Offering different or new benefits is something companies can for the most part readily do.
"It's no secret that today's labor market presents employers with unique hiring challenges," said Kimberly Bowen, vice president of Global Talent Management at Unum, in a statement. "Voluntary benefits can be one way to attract and retain top talent to show you value your employees."