New research has found that 86% of employees believe workplace benefits are an important consideration when deciding whether to stay in a job or accept a new role.
The study by Nous.co revealed that discounts or help with household bills and free food at work topped the list of most wanted perks, cited by 27% of respondents. These were followed closely by health and dental insurance, desired by 26%, and life insurance, cited by 25% of those surveyed.
Retail discounts came in fifth place, with more than a fifth (21%) saying the benefit is important to them.
The research by the household bills manager further found that two-thirds of private sector workers are considering changing jobs to earn more money.
Greg Marsh, founder and CEO of Nous.co, said: “The cost-of-living crisis is driving up workers’ day-to-day costs, but most firms don’t have the money to fund pay rises in line with inflation. This is a knotty problem for HR departments who want to attract the best talent and support their staff who are being pummelled by the cost-of-living crisis.
“Our research shows just how crucial workplace benefits can be in solving the problem. Perks are an important factor to the vast majority of workers and offer employers a cost-effective way of supporting their staff.”
The study also showed that generation Z employees aged 27 and under are more than twice as likely as those aged 55-plus to view perks as an important factor in deciding whether to stay in a role or move to a new one.
Of these younger workers, three-quarters think non-salary benefits are very or quite important, while less than half of 55-64-year-olds believe the same.
Marsh added: “It is crucial for companies to be able to attract strong Gen Z workers. Our research confirms what we’ve long suspected: employee benefits are now an essential part of this.
“This generation is perfectly willing to move around to get what they want. High-quality perks have to be part of the package on offer in order to both recruit and retain innovative younger employees.
“It makes sense for employers too. Offering strong benefits outside salary is a cost-effective way to attract and retain the next generation of leaders.”