Salary? Is that all there is?

Salary? Is that all there is?

During the time of the “Great Recession” keeping your job during layoffs was the key.  Having a salary that paid the bills was a blessing.  Forget the benefits, those were gone.  In today’s economy, benefits are taking a new position for the employed.

According to Glassdoor’s Q3 2015 Employment Confidence Survey¹, nearly four in five (79%) of employees 2 would prefer new or additional benefits to a pay increase. Specifically, more women (82%) than men (76%) prefer benefits or perks to a pay raise. And, younger employees aged 18-34 (89%) and 35-44 (84%) prefer benefits or perks to pay raises when compared to those aged 45-54 (70%) and 55-64 (66%).

Types of Benefits/Perks Valued More Than Pay Raises

  • Healthcare insurance (e.g., medical, dental): 40%
  • Vacation/Paid time off: 37%
  • Performance bonus: 35%
  • Paid sick days: 32%
  • 401(k) plan, retirement plan and/or pension: 31%
  • Flexible schedule (e.g., work from home): 30%
  • Office perks (e.g., free lunch, casual dress): 19%
  • Employee development programs (e.g., on-the-job training, professional development): 19%
  • Tuition reimbursement: 18%
  • Employee discounts: 17%
  • Gym membership or wellness programs: 16%
  • Stock, stock options and/or equity: 16%
  • Paid parental leave (e.g., maternity leave, adoption assistance): 13%
  • Childcare assistance (e.g., on-site childcare, financial assistance): 13%
  • Commuter assistance (e.g., company shuttle, commuter checks): 9%
  • Diversity program: 3%

Glassdoor’s survey also looks at core measures of job market confidence: rehire probability, salary expectations, job security and business outlook.

Want the best team?  Hire correctly but also offer something more than just the competitive salary.

No Comments

Post A Comment

Processing...
Thank you! Your subscription has been confirmed. You'll hear from us soon.
Newsletter Signup
Learn more about dental billing best practices and helpful collection tips by subscribing to our monthly newsletter
ErrorHere