Show me the money, not the bennies.

|

OK… that's not what everyone is saying, but more people areexpressing that sentiment than in the past.

|

A new survey suggests that workers are increasinglyprioritizing wages over healthcare benefits.

|

The poll of 1,500 employees by Employee Benefit ResearchInstitute (EBRI) and Greenwald & Associates found that a fifthsaid they would happily reduce their benefits package in exchangefor higher pay.

|

That might not seem like a big percentage, but it's twice theproportion who said the same thing in response to a similar surveyin 2012.

|

“I do these surveys all the time, and it's rare where you seethings change that quickly,” Paul Fronstin, director of the healthresearch and education program at the Employee Benefit ResearchInstitute, told Kaiser Health News.

|

In contrast, 14 percent of workers said they would forfeit somemoney in exchange for better benefits.

|

Fronstin explained that younger workers care less about healthbenefits than their elders. However, another recent survey showedthat young people are nearly as likely as older workers to say thathealth benefits are an important factor in deciding whether to takea job.

|

Consistent with other surveys, the EBRI poll showed that mostworkers are generally happy with their healthcare coverage. Twelvepercent said they were “extremely” satisfied, while 38 percent saidthey were very happy. Forty-one percent said they were “somewhat”satisfied, leaving only 9 percent who were apparentlyunsatisfied.

|

Although many employees appreciate being able to customize theirinsurance plan, only 17 percent say they would prefer for theiremployer to simply give them the money to buy their own plan.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.