The most recent Global Benefits Attitude Survey, conducted by WTW, found that 52% of workers are actively looking for new opportunities or are at risk of leaving their current job. Roughly 40% of those polled said they would leave for a 5% pay increase. In fact, 56% of respondents said they would move to a new job for better pay and bonuses, while 39% say they would stay in their current job if the pay and bonuses meet their needs and expectations. Thirty-eight percent say they are staying in their current job for the security, and 33% would leave for a position that offered better security.
Flexible work is important, but not as important as you may imagine. Twenty-nine percent of those polled say flexible hours — or the ability to work from anywhere — entices them to stay, but that it’s less important than having health insurance, which keeps 34% of respondents in their current job. Better health benefits are a leading reason to jump ship, with 39% saying they would move to a new job for better health insurance coverage.
In fact, more than ever, employee benefits remain a key driver in employee retention. Forty-eight percent of surveyed workers say a healthcare plan is an important reason to join a company, and 60% say it’s an important reason to stay in their current workplace. These numbers are up from 32% and 50%, respectively, in 2010.
Similarly, 47% of workers today say a good retirement plan could encourage them to join a company — and 60% say they would stay in their current job because of a strong retirement plan. These numbers have risen from 25% and 41% back in 2010, showcasing how priorities and needs have shifted since the pandemic.
More than ever, today’s employees put a premium on retirement and health benefits, knowing how these programs can offer them peace-of-mind and financial security later in life or in case of a medical emergency or illness.
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