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It might sound obvious to say that employee benefits are vital to workers' happiness, productivity, and overall well-being. Yet we can't underestimate how much companies' benefits can affect employees' mental, physical, and financial health. While recent waves of layoffs across tech and other industries may make it seem like the labor market is loosening, the workforce is still missing nearly 2 million Americans when compared to February 2020. Industries like health care are still facing worker shortages and are desperate to staff their teams to avoid employee burnout.
Savvy professionals aren't just looking at the numbers on their offer letters and pay stubs – they're taking a more holistic approach and assessing the strength of their employers' benefits packages. As 57% of employees say their finances are the top cause of stress in their lives, paid time off and health insurance have become table stakes. Above-average benefits – including those that support financial wellness – are now a must, rather than a nice-to-have. In fact, more than half of workers say they'd likely take a lower-paying job for a more robust benefits package.
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