80+ Important Employee Benefits, Engagement, Retention and Recruitment Statistics You Must See
Updated: Feb 8, 2022
It's hard to argue that employee benefits haven't played a significant and vital role in shaping today’s workforce.
Today, employees are more likely to stay with a company because they offer better benefits. In addition, it has been shown that this is one the most important tools for engagement and productivity in today's workplace - not just from managers but also colleagues who want their voice heard on how things should go down at work!
Do you need further proof? No worries, we have all the specifics and the data speaks volumes!
You'll be getting a look into what great employee benefits can do for you, and how they impact your business. We've done most of the heavy lifting for you. Just continue reading to get all of the insights necessary to implement or refine your current program – including which ones are falling flat or working well.
We've scoured the internet for reliable, trusted data. We know that each source has been credited below so there are no worries about misinformation!
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12% of businesses are happy with current levels of employee engagement (CBI)
Retention (72%) and recruiting (58%) were the top reasons for increasing benefits (SHRM)
80% of workers would keep a job with benefits rather than take one that offered more pay and no benefits (American Institute of CPA)
55% of employees would be somewhat likely to accept a job with lower compensation but a more robust benefits package (Aflac)
79% of employees cited a competitive benefits plan as an influencer, and 77% cited cost (Wellable)
72% of workers are satisfied, but 60% are still looking around for a new job with higher wages (Addison Group)
68% of employees did not choose salary as the most important factor to inform their decisions to take or reject job opportunities (Lexington Law)
Almost 40% of employees chose interests and passion as the most important factor that informs their decisions to take or reject job opportunities (Lexington Law)
10% of employees said benefits are the most important factor that informs their decisions to take or reject job opportunities (Lexington Law)
45% of employees said they consider a prospective company’s work-life balance a crucial factor when researching a job (Lexington Law)
50% of employees said they have left a position to escape a bad manager (Lexington Law)
78% of workers would likely remain with their employer because of the benefits it offers, up from 72% in 2016 (WTW)
Workers who have a good work-life balance are 10% more likely to stay at their companies than those who don’t (TINYpulse)
Employees said their top concerns during their job search would be their experience in the hiring process, the number of perks, programs and benefits a company offers to help workers with work-life balance and their connection with a company’s culture and values (Spherion)
Workers who are finding balance between their jobs and personal lives are twice as happy, more productive and show greater loyalty to their employers than those struggling to find balance (Robert Half)
More than 70% of employees agreed that fringe benefits would be a key consideration in evaluating future jobs (Zenefits)
40% of employees agreed they would leave their current job within a year for another offering more fringe benefits, but 25% wouldn’t leave (Zenefits)
More than 60% of employees would take a job with a lower salary for better benefits (Zenefits)
25% of employees would require at least a 20% increase in salary to justify making a move (West Monroe)
Nearly 60% of Americans would take a job they love over a job they hate, even if the preferred position paid half the amount of salary they would earn at the job they dislike (Lexington Law)
More than 50% of employees said they have left jobs after hearing the siren calls of better benefits elsewhere (Randstad)
55% of businesses think that stronger engagement would improve their ability to either retain, recruit or carry out succession planning (CBI)
Top reasons for leaving a job: insufficient pay (44%), limited career paths (43%), lack of challenging work (30%), work-life balance (28%), and lack of recognition (27%) (Randstad)
44% of businesses think improved employee engagement would lead to them better being able to retain, whilst 36% think it would have a positive impact on recruitment (CBI)
42% of businesses report that their ability to recruit has been improved by their pension scheme (CBI)
42% of businesses report that pension provision has a positive impact on employee retention (CBI)
66% of firms believe educating staff about the benefits of saving through workplace pensions can help influence employee engagement on pensions, wider financial education (58%), the use of simpler language and minimal jargon in pension communication (63%), technology (54%), and individualizing pension communications as far as possible (49%) (CBI)
63% of businesses include pensions in an employee’s induction process, 60% include guidance from an external provider, 54% a sign-post staff to publicly available pension guidance, 51% offer a digital information portal for staff and 49% deliver in-house webinars/seminars (CBI)
64% of millennials say benefits are extremely or very important to employer loyalty (Qualtrics)23% of full-time employees do not receive any benefits from their employers (Clutch)
52% of employees who aren’t satisfied with their benefits want more of a benefit they already have (Clutch)
14% of employees want different benefits altogether (Clutch)
32% of employees say that they feel neutral about, or are not satisfied with, the benefits they receive (Clutch)
Gen Xers are slightly more satisfied with their benefits than millennials (53% vs 52%), and 49% of boomers report they are satisfied with their benefits (LIMRA)
Dissatisfaction stems from employees’ need for additional benefits (57%), the desire for benefits they currently don’t have (24%), benefits they can’t use (22%) and benefits they feel pressured not to use (8%) (Clutch)
It’s to the employer’s advantage, even for small businesses, to offer benefits in the quest to attract top talent and keep their good employees from jumping ship (Clutch)
46% of employees that discuss benefits face-to-face with an employer report being satisfied (Thomsons Online Benefits)
81% of employees who can easily access their benefits said they feel loyal to their employer and 79% say they were proud to work for their organization (Thomsons Online Benefits)
77% of employees who understand their benefits offering said they saw themselves staying at their organization for the foreseeable future (Thomsons Online Benefits)
15% of employee candidates don’t ask about benefits at all during the interview process (Thomsons Online Benefits)
80% of employees who said they have a good variety of benefits to choose from also said they identified strongly with their organization’s vision and values, as opposed to 40% of those who don’t (Thomsons Online Benefits)
Over 50% of employees say they can’t access their benefits in the way they prefer and 21% say they can easily access their benefits (Thomsons Online Benefits)
Among employees who take a week or more of vacation, 65% say they feel strongly about working for their organization a year from now, compared to 51% who don’t take a week off in the summer (O.C. Tanner)
63% of employees wouldn’t consider a job opportunity that offered fewer than 15 paid vacation days (Randstad)
49% of employers know which total rewards programs employees value, while 47% know which offerings candidates value (WTW)
47% of employees want to receive rewards spontaneously (Xexec)
38% of employees want to receive rewards in exchange for good work (Xexec)
52% of employees would rather celebrate rewards with their families than with colleagues (Xexec)
73% of organizations have an employee recognition awards program in place (Globoforce)
51% of employees would quit their job if training was not offered (Udemy)
Offering career training and development would keep 86% of millennials from leaving their current position (Bridge)
If a job lacks growth opportunities and avenues for leadership development, 67% of millennials would leave that position (Bridge)
The top four reasons retail employees leave their jobs – poor management, scheduling difficulties, lack of training, falling wages (WorkJam)
62% of retail managers say they have lost employees due to scheduling conflicts (WorkJam)
Money is the number one motivator for 67% of job seekers and employees looking elsewhere for career opportunities (Glassdoor)
43% of employees said they would leave their current jobs for another that paid better (Ajilon)
44% of workers said they would leave their current job for one that pays more (OfficeTeam)
50% of adults would leave their current job for better benefits (Yoh)
Men are more likely to leave for being underpaid compared to women (39% vs. 33%) (Ajilon)
72% of workers didn’t accept the rationale for why they didn’t get a raise, and 71% who received no rationale said they planned to look for a new job within six months (PayScale)
Of employees that received some rationale as to why they didn’t get a raise, just over 25% actually believed it and of those who didn’t believe the rationale or didn’t receive one, more than 70% said they planned to seek a new job in the next six months (PayScale)
57% of employees who believed the rationale they were given when not getting a raise and 42% of employees who did receive the raise they requested were planning to leave their job (PayScale)
77% of workers said they’d be more likely to accept a job offer if they knew they could telecommute at least some of the time (Robert Half)
86% of employees between the ages 18-34 said they’d sooner sign a contract with remote work options (Robert Half)
65% of employees older than 55 said they’d sooner sign a contract with remote work options (Robert Half)
61% of workers left or considered quitting a job because it lacked work flexibility options (FlexJobs)
Employees who feel their rewards meet their needs are seven times more likely to be engaged with work compared to employees who don’t feel that way (Alight Solutions)
51% of employees would not consider a job that provides less flexibility than their current job (Alight Solutions)
More than 75% of workers would be more loyal to their organization if it offered flexible work options (FlexJobs)
42% of adults said they’d jump ship for a flexible work option (Yoh)
70% of millennials have considered leaving a job for another boasting flexible work options, but just 50% of older workers have felt the same pull (FlexJobs)
Almost 80% of millennials said they would be more loyal to an employer offering flexible work options, while just over 70% of older workers said they same (FlexJobs)
More than 80% of millennials say they seriously consider how a position will affect their work-life balance, but only 62% of older workers agreed (Flexjobs)
Roughly one-third of adults would leave their job for a higher-level position, a better company culture or a shorter commute (Yoh)
Employees with meaningful work stay on the job 7.4 months longer than other employees, put in an extra hour a week and take two fewer paid leave days a year (Betterup)
Health coverage is the reason 56% of employees remain on their current job (American’s Health Insurance Plans)
83% of employees say health insurance is very or extremely important in deciding whether to stay in or change jobs (EBRI)
88% of employees that work in pet friendly workplaces plan to stay at the company for the next 12 months vs. 73% of those that don’t work at a pet friendly workplace (Nationwide)
72% of employees that work in pet friendly workplaces would decline a job offer with another company at similar pay vs. 44% of those that don’t work at a pet friendly workplace (Nationwide)
91% of employees that work in pet friendly workplaces feel fully engaged with their work vs. 65% of those that don’t work at a pet friendly workplace (Nationwide)
More than 70% of HR professionals believe outmoded work practices, sketchy career paths and limits on advancement, development and mentoring are impacting attrition and 69% identified flexible work schedules, wellness programs, fast-track promotions and other perks as problematic (Allegis Group)
More than 20% of workers said they’ve