72% of U.S. employees staying with their employer to keep pay, job security: survey

Top reasons cited by respondents for staying with their current employer were pay (48 per cent), job security (41 per cent), health benefits (36 per cent) and flexible work arrangements (31 per cent). Notably, more than half (56 per cent) said they’d still consider another job offer for better pay, although they noted they’d need a 10 per cent salary increase to make the move.

Read: 68% of U.S. employees plan to stay with their current employer, citing pay and benefits: survey

Half (49 per cent) of respondents chose their current employers due to their benefit packages and another 54 per cent said they stayed with their employers for the same reason. Meanwhile, two-fifths (40 per cent) said they’d leave their employers for better benefits elsewhere and no change in salary. Among those whose benefit packages met their needs, 82 per cent said they intend to remain with their employers.

Two-thirds (66 per cent) of respondents said they had more choice in benefits, which allows them to alter core benefits or use a flexible benefits fund that allows them to access other benefits, including voluntary benefits. When employees had the most choice in benefits, three-quarters reported their benefits met their needs (76 per cent) and they’d recommend their employer as a good place to work (78 per cent).

“The war for talent is no longer just about pay; benefits matter, and the ability to choose those benefits is important for adapting to employees’ changing needs,” said Cecile Chang, WTW’s global growth leader of health and benefits, in a press release. “Employers should invest in their employees’ long-term well-being and offer a sense of security through the benefits package. While they can’t control the world outside of work, they can support their employees through an inclusive and tailored benefits process.”

Read: U.S. employees staying at current jobs due to work-life balance, financial stability: survey