In a recent Mercer survey, reported by TLNT, employees worldwide tend to select benefits that offer immediate gratification rather than those that potentially deliver value over the long term. Here is the ranking of benefits by U.S. employees:
- $500 salary increase — chosen by 22%;
- Additional week paid time off (PTO) — 18%;
- $500 401(k) increase — 14%;
- $500 health care premium reduction — 9%;
- $500 pension accrual — 8%;
- $500 in health spending account (HSA) — 7%;
- $500 health incentive (to reward a healthier lifestyle) — 6%;
- $500 tuition reimbursement — 4%;
- Onsite health clinic — 3%;
- Gym membership — 3%;
- Financial planning — 2%;
- $500 pre-tax transportation deduction — 2%;
- $500 for child care — 2%.
When it comes to “voluntary” benefits — the things that employees are willing to pay for out of their own pocket — the U.S. ranking came out like this:
- Disability insurance — chosen by 38%;
- Life insurance — 34%;
- Auto insurance — 34%;
- Accident insurance — 29%;
- Hospital indemnity insurance — 25%;
- Retail discount program — 23%;
- Critical illness insurance — 22%;
- Homeowners insurance — 22%;
- Long-term care — 19%;
- Appliance purchasing program — 17%;
- Pet insurance — 16%;
- Legal assistance — 11%;
- Identity theft insurance — 11%.
Compensation Connection Blog 