High take-up rates are usually seen whenever benefits are offered to workers, the survey reveals. Results show 75% of respondents state the benefits package an employer offers prospective workers is extremely or very important in their decision to accept or reject a job.
Paul Fronstin, director of EBRI’s health research and education program, says workers are well aware of the lower costs of employee benefit plans compared with purchasing benefits on their own. Employees also see increased levels of choice and support as strong advantages of voluntary workplace benefits.
“Workers clearly recognize the value of employer-provided benefits in their decision to take or reject a job,” Fronstin says. “And when those benefits are offered, especially health benefits, workers sign up for them.”
Among those workers offered benefits, 80% or more signed up for health, dental, and retirement benefits. Health insurance was rated the most important compared to any other work place benefit, with 86% of workers reporting employment-based health insurance is extremely or very important.
There were mixed responses with regard to workers’ comfort in having employers choose their benefits provider. Workers also think the possibility that they may have to pay the full cost of any voluntary benefits is a strong or moderate disadvantage.
Additional findings from the “2014 Health and Voluntary Workplace Benefits Survey” can be found here.