The happier employees are with their benefits, the happier and more satisfied they are overall, according to an analysis of survey data by the Employee Benefit Research Institute.
The data, from EBRI's 2017 Health and Workplace Benefits Survey, show that employees are generally satisfied with their current benefits package. Forty-eight percent indicate they are extremely or very satisfied with their benefits; another 36% are somewhat satisfied.
The survey also found that 80% of employees who ranked their benefits satisfaction as extremely or very high also ranked job satisfaction as extremely or very high. Similarly, the nearly two-thirds who ranked benefits satisfaction as extremely or very high ranked their morale as excellent or very good, EBRI said in a release.
"It is important for employers to understand that benefits continue to be valued by employees," said Paul Fronstin, director of the health research and education program at the EBRI.
"Health insurance, retirement plans, dental, vision and life insurance continue to be highly important when making job change decisions," Mr. Fronstin said.
He noted that more than four in 10 respondents said they would forgo a wage increase to receive an increase in their work-life balance benefits, and nearly two in 10 stated a preference for more health benefits and lower wages.
When asked how confident they are that in three years their employer will offer benefits similar to today, only 19% of employees say they are extremely confident, while 20% say they are not too confident or not at all confident in the future of employer benefits.