Perks Valued More Than Pay Raises

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Perks Valued More Than Pay Raises
It may or may not be surprising to HR professionals and managers that pay raises aren’t always an employee’s top priority. On the contrary, several cite that they value more than a raise.

According to Glassdoor’s Q3 2015 Employment Confidence Survey, “nearly four in five (79%) of employees would prefer new or additional benefits to a pay increase. Specifically, more women (82%) than men (76%) prefer benefits or perks to a pay raise.

And, younger employees aged 18-34 (89%) and 35-44 (84%) prefer benefits or perks to pay raises when compared to those aged 45-54 (70%) and 55-64 (66%).”

Types of Benefits/Perks Valued More Than Pay Raises:
40% Healthcare insurance (e.g., medical, dental)
37% Vacation/Paid time off
35% Performance bonus
32% Paid sick days
31% 401(k) plan, retirement plan and/or pension
30% Flexible schedule (e.g., work from home)
19% Office perks (e.g., free lunch, casual dress)
19% Employee development programs (e.g., on-the-job training, professional development)
18% Tuition reimbursement
17% Employee discounts
16% Gym membership or wellness programs
16% Stock, stock options and/or equity
13% Paid parental leave (e.g., maternity leave, adoption assistance)
13% Childcare assistance (e.g., on-site childcare, financial assistance)
09% Commuter assistance (e.g., company shuttle, commuter checks)
03% Diversity program

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