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Paul Gilshan: Are employee benefits as important as salary?

Employee Benefits

Employee benefits are defined as ‘non-salary compensation provided to employees in addition to their salary or hourly pay’ These benefits may include private medical insurance, pension contributions , childcare vouchers, a car scheme , and other perks such as discounts on gym memberships, travel, or education.

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Top Employee Benefits & Compensation Ideas for a Diverse Workforce

Vantage Circle

Employees Prefer Benefits Over Pay Raise. Similarly, 89% of younger employees aged 18-34 and 84% employees aged 35-44 favor benefits to pay raises. Below listed are some employee benefits which employees feel are better than pay raises: Health Insurance. Disability Insurance.

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Top Employee Benefits & Compensation Ideas for a Diverse Workforce

Vantage Circle

Employees Prefer Compensation and Benefits Over Pay Raise. Similarly, 89% of younger employees aged 18-34 and 84% of employees aged 35-44 favor employee benefits to pay raises. These include insurance for losses from accidents, disability, sudden death, dismemberment. Disability Insurance.

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How to Design an Employee Benefits Program Effectively

Empuls

The survey also found that 80% of employees would choose additional benefits over a pay raise. They are designed to help employees manage their health and well-being, and typically include health insurance, disability insurance, and wellness programs.