Not only are employers looking at benefits as a way to attract employees, but employees are now more willing to have additional money deducted from their paychecks. (Image: Shutterstock)
Economic activity has been unpredictable since the beginning of the pandemic. The stops and stars of mandates, along with high inflation and a tight labor market have upended many conventional ways of doing things. It seems that within that labor market employees are more willing to pay for better benefits and the importance of benefits offered by employers to attract workers is gaining steam, according to a new report from Willis Towers Watson (WTW).
According to the survey, six in 10 employees (60%) cited their employers' retirement benefits as an important reason they remain with their current employer, compared with 41% in 2010. Nearly half said their company's retirement programs (47%) and health care benefits (48%) were important reasons why they joined their employers, versus just 25% and 32% in 2010, respectively.
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