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Analysis

Employees would trade a pay bump for better benefits

Employees would rather have better health care coverage, more time off or more comprehensive retirement benefits.

young woman with coworkers in background Perhaps not surprisingly, the need for security and work-life balance is not as important as pay among Gen Zers just starting their careers. (Photo: Shutterstock)

A year-end bonus is always appreciated. But in today’s world, the need for more security and greater work-life balance is causing an increasing number of workers to prefer richer benefits and more time off, according to Willis Towers Watson’s Global Benefits Attitudes Survey.

The firm polled 8,000 U.S. workers and found that more than half of the respondents (57 percent) say their benefit package is more important to them than ever before. So much so that 37 percent would rather receive more substantial benefits than additional pay or bonuses, and 13 percent would rather receive time off.

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Katie Kuehner-Hebert

Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.

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