Employee benefits can be as important as salary when you choose a job. With a well-rounded benefits package, a company shows that it values its employees as people and is committed to their work/life balance, morale and motivation now and into the future.
Surprisingly, some of the most desired benefits are unique, as you'll see on this list of the 12 most desired employee benefits.
Most desired employee benefits
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Retirement Plans
Employees appreciate a company that helps them plan for the future, especially if the company offers matching retirement funds. Access to a financial planner is another bonus.
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Health Insurance
The stability of a group health insurance plan gives employees peace of mind. It's also often more affordable than an individual policy, making it a valuable asset for many employees.
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Dental and Vision Insurance
Often optional coverage, dental and vision insurance keep employees healthy and happy.
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Life Insurance
With life insurance, employees can make sure their loved ones are provided for in the future. The peace of mind is invaluable.
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Flexible Spending Accounts
Employees use FSA funds to pay for qualified health care or dependent care expenses. This benefit and its financial advantages stretch their paycheck and give peace of mind.
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Paid Leave
Paid vacation, sick, holiday and personal leave allows employees to take care of themselves and their families. It promotes work/life balance and improves loyalty and productivity.
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Flexible Hours
When possible, companies can offer flexible hours. This schedule allows employees to work when they're at their peak, take time off to care for personal or family matters, and find better work/life balance.
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Telecommuting
The ability to work from home appeals to many employees. They value the chance to work independently, save money on transportation and reduce commute time.
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Maternity/Paternity Leave
Because standard leave can be limited, employers demonstrate their value for families when they offer expanded maternity and paternity leave. This benefit also supports workforce participation and family stability.
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Free Child Care
Some employers offer free on-site child care. While this benefit is particularly popular with parents, it improves productivity for everyone since it reduces unplanned time off and improves project continuity.
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Tuition Reimbursement
By paying for employees to further their education, a company empowers its team and improves its future prospects.
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Student Loan Assistance
College loans can take years to repay. Any assistance is welcome by employees and helps employers attract educated and trained workers.
When asked about the most desired employee benefits, these 12 benefits top the list. They improve employee relations, productivity and motivation and help companies attract quality employees, so look for them the next time you apply for a new job.
For related information on plan options and employer programs, see Employee Benefits and Financial Services and Dental Benefits Overview. If you need help comparing options, talk to an agent.
Frequently Asked Questions
What is the most valued employee benefit?
It depends on the workforce, but retirement plans and health insurance consistently rank among the top benefits for long-term financial and health security.
How does tuition reimbursement typically work?
Employers often cover part or all of course costs for approved programs, sometimes requiring a grade threshold and a work commitment after completion.
Are flexible hours and telecommuting the same?
No. Flexible hours let employees choose start and finish times, while telecommuting refers to working remotely instead of at the office.