The number of employees willing to pay for better benefits has rebounded following a dip during the pandemic, according to a Willis Tower Watson survey released Tuesday.
The survey of more than 9,600 U.S. employees found that the tight labor markets are “showing little sign of abating,” which means the importance of health and retirement benefits to attract and keep workers is at its highest level in a decade. Willis Towers Watson is an advisory and brokerage firm.
“While employees still look at pay as the most compelling reason to stay or leave a company, health and retirement benefits have become a much more significant factor in their decision-making process,” Monica Martin, the firm’s senior director/retirement, said in a news release.
The survey found the most important benefit to employees is retirement (44%) followed by flexible work (39%). Among those who said retirement benefits are most important to them, 62% want a guaranteed retirement benefit, 58% want more generous retirement benefits, and 53% are interested in retiree medical benefits.
Nearly six in 10 employees (59%) said they would pay more for a more larger retirement benefit, and 46% would pay for a more generous health-care plan, up from 2020.
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