7 Workplace Benefits That Employees Want Most

Company Spotlight | Industry Resources

When you’re fielding a job offer, in addition to the pay scale, one of the most important factors affecting whether you accept the opportunity is the quality of the company’s benefits package. What is their time-off policy like? What kind of health and retirement benefits do they provide? Do they have other work perks, like remote options, unlimited coffee in the office, or dedicated nap pods? While most companies are required to supply some type of benefits package, there can be a disconnect between the non-wage compensation employers offer and the workplace benefits employees want.

According to the 2023-2024 Aflac WorkForces Report, 78% of employers surveyed believe their employees are highly satisfied with their benefits, but only 59% of employees surveyed expressed high rates of satisfaction. This disconnect can be detrimental to organizations’ hiring and retention efforts, and even offering higher pay sometimes isn’t enough to entice employees. 53% of employees surveyed in the Aflac report stated they would be at least somewhat likely to accept a position with a lower pay scale but better benefits.

So, what benefits do employees really want? At LCS, we strive to source and deliver competitive benefits to all employees. Using our package as a guide, we’ll cover the top seven workplace benefits that employees want most.

1. Health & Wellness Benefits

At the top of the most-wanted workplace benefits list is a comprehensive healthcare package. This is an offering that both employers and employees agree is equally important, with a  Forbes survey finding that 67% of employees and 68% of employers believe that employer-covered healthcare is the most important workplace benefit. While costs of employer-covered healthcare continue to rise, covering at least a portion of the costs your employees incur for their premiums is a must. LCS offers two employer-sponsored healthcare plans for employees to choose from, enabling them to choose which option is right for their individual situation.

Wellness benefits go hand-in-hand with healthcare packages, as they encourage employees to take care of their health through whole-body initiatives. Access to an on-site gym or an employee wellness program, like LCS’ partnership with Wellable, can help employees get active, lose weight, stop smoking, and assist them in achieving other health and wellness goals.

2. Retirement Contributions

Employer-sponsored retirement plans—such as contributions to a 401(k), SIMPLE IRA, or pension program—are also high on the list of employees’ most-wanted benefits. According to the Bureau of Labor Statistics, as of March 2023, the take-up rate, or the percentage of workers with access to employer-sponsored retirement benefits who chose to participate, was 77%. Offering some kind of retirement option, like LCS’ 401(k) matching program, will go a long way in employee satisfaction and retention.

3. Professional Development

In addition to supporting employee health and helping them save for retirement, workers value planning for the future of their careers. Professional development resources are an invaluable investment for employees’ long-term success and satisfaction. While not a “traditional” workplace benefit, providing continued training helps employees reach their goals, learn new skills, and thrive in their roles. Upon joining the company, LCS assigns each employee a Professional Development Coach who is tasked with guiding newcomers through the onboarding process and beyond. These coaches play an instrumental role in our employees’ growth and success, helping each individual set professional goals, pursue interdepartmental opportunities, and more. Not only do the coaches play a large part in our employees’ continued training initiatives, but LCS also offers cross-training experiences that allow team members to explore roles in other departments. These practicums encourage LCS employees to stay with the company and pursue new career paths.

4. Education Benefits

Along with continued training and professional development channels, employees are eager for continuing education opportunities. Benefits such as tuition reimbursement or scholarship partnerships with local universities demonstrate that you’re invested in your employees’ career and personal development. Programs like the LCS scholarship partnership with the University of Cincinnati empower employees to pursue a degree and learn new skills that they can apply to the workplace.

5. Paid Time Off

You know what they say about all work and no play. For many employees, one of the most important benefits a workplace can provide is ample paid time off. Whether it be for vacation, sick leave, bereavement, or other reasons, having enough PTO—and being encouraged to actually use it—gives workers both peace of mind and the ability to take time for themselves without worrying about meeting financial obligations. A flexible, generous time-off policy is key to retaining happy and refreshed employees. LCS offers team members an annual fixed bank of PTO hours that increases with employee tenure.

6. Workplace Flexibility

In the modern workplace, many employees desire a flexible schedule. For some businesses, a fully flexible schedule with remote work is doable, but for other companies, especially those with customer-facing positions, a set schedule is a must. Remote work, in some capacity, is here to stay, with hybrid options being an attractive benefit to both employees and employers. Whether you decide to commit to a 50/50 office/home split option like LCS, or offer other remote and hybrid schedules, at least some flexibility is a key benefit that attracts and retains top talent. In fact, as many as 50% of Americans surveyed would take a pay cut in order to work remotely.

7. Work-Life Balance

Alongside workplace flexibility, employees want a strong sense of work-life balance. With burnout on the rise, employees want to feel valued as multifaceted people with lives outside of their contributions to the organization. Even with a robust PTO policy in place, if your company culture implicitly or explicitly values constant availability, working long hours, or going significantly beyond set job responsibilities, employees are more likely to look for a new role at another company. Cultivating an atmosphere that values work-life balance includes providing things like parental leave policies and an open line of communication between leadership and employees, offerings that LCS proudly provides our team. Add in our dedication to teamwork and fun both inside and outside of the office, and you have a culture that unequivocally shows our employees that they’re valued.

The Workplace Employees Want Most is LCS

Voted a Top Workplace 12 years in a row, LCS has a competitive benefits package and a thriving company culture that our employees love. If you’re looking to work with an organization that understands happy employees are the key to success, check out our open positions and apply to join our team today.