What benefits do employees value most in 2024?

TRS Staffing Solutions (TRS) is a results-driven specialist across a range of recruitment niches. Our team of experts understands the importance of benefits packages when deciding on your next career opportunity. 

Having accrued years of experience in a particular field, senior professionals are well-positioned to negotiate benefits packages to supplement their salary.

From medical cover to life insurance, and flexible working hours to retirement plans, the realm of employee benefits is vast and can vary immensely from job to job.

A natural question to consider is, “What benefits do employees value most in 2024?”.

In this article, we will take you through the current most common types of employee benefits as well as the least common.

What benefits do employees value most?

Healthcare

According to Forbes Advisor, 67% of employees view employer-covered healthcare as the most important element of an employee benefits package in 2024.

More and more frequently, mental health resources are being included in healthcare benefits packages, and this is something employees are showing increased demand for. 

What’s more, the data supports the importance of offering mental health support as a part of employee benefits packages. 

Resourcing employees with ways of managing stress and preventing burnout positively contributes to job satisfaction and employee retention.

Paid time off and progressive leave policies

The value of paid time off is often underestimated, when in fact, it is amongst the highest-valued employee benefit.

Whether vacation days, sick days, or parental leave, employees prefer contracts that offer preferential leave policies.

When it comes to parental leave, a bigger emphasis is being placed on equal leave opportunities being provided to all parents, regardless of gender or their journeys to parenthood—such as surrogacy or adoption.

Work-life balance

Whether this means having the opportunity to work remotely, hybrid, or flexibly, more and more employees are prioritising contracts that promote a healthy work-life balance.

Recent studies show that many employees are willing to take a pay cut in exchange for greater flexibility and a more balanced work-life—this being one of the top recruitment trends in the renewables sector, amongst others. 

However, other sources report higher rates of pay are still preferable in the grand scheme of things.

In the end, there’s no right or wrong answer; it is simply about individual preferences.

What are the three least common employee benefits in 2024?

The days when free filter coffee was the job's best perk are gone. 

Today’s employees place much higher value on mental health, career progression, and job satisfaction. 

The least sought-after employee benefits today are:

• Performance bonuses, 
• Free office refreshments,
• Medical cash plans.

Explore opportunities with TRS Staffing Solutions

Now that you’re armed with information about employee benefits packages, it’s time to discover your next opportunity with TRS Staffing.

We have positions available across a wide variety of sectors, including oil and gas, infrastructure, manufacturing, renewables, and more. 

Our team keeps integrity, safety, and teamwork at the heart of what they do. Connect with our recruitment consultants today to receive further guidance.