Do Benefits Provide a Competitive Edge?

A workforce benefits survey conducted by the Employee Benefits Research Institute found that the majority of workers say that the employee benefits package is important to their decision to accept or reject a job.  33% state that the benefits package is extremely important and 45% indicate that it is very important to their decision.

Employees continue to rank health insurance as the first or second most important benefit provided.  76%  of survey respondents report that their employer offers them health insurance, 67% offer dental insurance, 66% offer a retirement vehicle, and more than 60% offer vision insurance, 58% offer life insurance, 55% offer short term disability insurance, and 49% offer long term disability insurance.

According to Paul Fronstin, Director of EBRI’s Health Research and Education Program, “Employers that offer a strong employee benefits package should find themselves with a competitive advantage over other companies when it comes to attracting and retaining desirable employees”.

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