A recent survey by Robert Walters Canada reveals a significant disconnect between employees and their workplace benefits. The study, which included over 500 workers, paints a picture of widespread dissatisfaction and misalignment between what companies offer and what employees truly value.
The Benefits Dilemma
Most workers (70%) are unhappy with their current benefits package. Many feel that these perks are more about attracting new talent than keeping existing employees satisfied. Despite this, benefits still play a crucial role in job decisions and company loyalty for most respondents.
What Employees Really Want
When it comes to financial perks, workers are eyeing:
- Annual bonuses (88%)
- Pension/retirement savings plans (56%)
- Equity options (22%)
Interestingly, over a third of employees would consider a lower-paying job if it came with better financial benefits.
Health Benefits: A Mixed Bag
While nearly all surveyed employees receive health and dental insurance, there’s room for improvement:
- Only 35% feel they know how to make the most of their insurance benefits
- 13% are outright dissatisfied with their coverage
The Hybrid Work Revolution
Flexible work arrangements are now a top priority:
- 77% chose hybrid working as their most valued flexible working benefit
- Almost half would look for a new job if forced to increase office time
- Over half wish for more vacation or paid time off
Family-Friendly Policies Matter
Enhanced parental leave policies significantly boost loyalty, with many employees considering family-oriented benefits like tuition contributions and extended maternity/paternity leave when evaluating job offers.
Personal Growth and Work-Life Balance
Employees also value:
- Personal development funding (67%)
- Work-from-home subsidies (44%)
- Team-building activities (34%)
Martin Fox, Managing Director at Robert Walters Canada, emphasizes the importance of a well-rounded benefits package: “If employers fail to communicate or offer attractive benefits, it could seriously impact both attraction and retention levels, as well as overall employee engagement and productivity.”
This survey underscores the evolving expectations of the modern workforce, highlighting the need for employers to reassess and potentially revamp their benefits strategies to align with what truly matters to their employees.