This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/10/24/the-7-most-valued-employee-benefits-in-2019/
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Business owners and CEOs are more challenged than ever when it comes to retaining millennials.
According to Forbes, 89 percent of millennials prefer generous benefits over salary increases. Eighty-three percent wouldn’t hesitate to leave one employer for a competitor who offers better benefits.
Benefit packages are evolving right along with the modern workforce. Companies are scrambling to offer customized perks and a wider range of options. The job seekers of 2019 desire these seven benefits above all others.
1. Medical Benefits.
Health care perks aren’t likely to go out of style any time soon. The Department of Health and Human Services reports that coverage costs topped $3.5 trillion in 2017. Annual pay raises are often considerably less than rising premiums.
Employers can’t hope to compete if they don’t offer medical, dental, and vision coverage, but many go far beyond that to entice top millennial talent. Some pay 100 percent of the cost. Others throw in pet insurance.
Perks that were unheard of not too long ago are becoming commonplace. Examples include immediate coverage upon hire, comprehensive on-site health services, and fertility assistance.
At the very least, employees expect higher contributions to their tax-advantaged health savings accounts.
2. Mental Health Support.
Issues like depression, insomnia, and anxiety affect more than 18 percent of American adults every year. They impact employee performance. They can also go hand in hand with substance abuse. They cost U.S. businesses between $80 – 100 billion a year.
Fortunately, growing awareness is driving long-needed change.
Employer-sponsored stress management programs are no longer unusual. Some companies have employee assistance programs, or … Read More
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