HealthEquity's survey suggests that satisfaction with employer support is linked to whether that employer expanded benefit offerings during the pandemic.
A new survey finds employees continue to be hungry for options, including increased flexibility in work arrangements and more choices of employee benefits.
The survey was released by HealthEquity, a Health Savings Account (HSA) administrator based in Draper, Utah. Called the "Working in the New Normal Survey", the study included responses from more than 1,000 Americans who transitioned from working onsite to working remotely (at least part-time) because of the pandemic.
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Two of the main findings: more than half (56%) of respondents said they were not satisfied with their employer's changes to benefits in response to current work realities. In addition, the survey confirmed that workers highly valued flexible work schedules and decreased commuting time and costs.
Switching to remote work was a popular move
The survey found that 43% of respondents had switched to remote work, at least part-time, from full-time on-location work due to the COVID-19 pandemic. Of those workers, 66% said they would prefer to maintain an element of remote work after the pandemic—either through a hybrid work model or by working remotely full time. Only 23% said they would prefer to return to full-time onsite work.
In addition, 71% said flexible work schedules were among their most valuable benefits. A significant number of workers indicated their productivity is better when working remotely (with 33% listing productivity as a top three reason for preferring remote work.)
Interestingly, the hassle of commuting was listed highly as a reason for preferring remote work; 51% said time savings from not having to commute was one of their top three reasons for preferring remote work, and 42% listed cost savings from not commuting as a top reason.
"Room for improvement" with benefits
The survey found evidence that employers could do better with adapting benefit offerings to the changing times. When asked about their satisfaction with their employer's benefits, only 29% said they were very satisfied with the support the employers offered during the pandemic.
The analysis suggested that satisfaction with employer support is linked to whether that employer expanded benefit offerings during the pandemic. With employers that expanded at least one benefit during the pandemic, 34% of employees said they were very satisfied with the support given by employers. With businesses that did not expand benefits, only 13% of workers said they were very satisfied with their employer's support.
The survey ranked the following benefits as among the most important: flexible work schedules were listed as a top-three benefit by 71% of respondents, followed by retirement plans (63%), home office stipends (33%), HSAs (33%), and wellness/fitness benefits (29%). One number that the analysis singled out: 75% of female employees said flexible work schedules were a top benefit; 67% percent of male workers said the same.
HealthEquity also polled employee on HSAs—one important finding was that workers increased their contributions to HSAs during the pandemic. The survey found that 46% of HSA participants increased their contributions since 2020 began; 40% said they had increased health care spending in the past year.
"HealthEquity is working to provide organizations and benefits leaders with a greater understanding of shifting employee expectations to help navigate open enrollment, Return to Work and the Great Resignation," said Ted Bloomberg, Executive Vice President and Chief Operating Officer. "As millions change jobs, looking for new opportunities and even new careers, organizations with a compelling, flexible benefits offering will be better positioned to attract and retain top talent."
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