Workers Try to Find the Balance Between Cash and Benefits

May 17, 2006 ( - Even if workers are satisfied with their compensation packages, they may change the mix of cash and benefits if given the chance, according to a recent survey.

A recent survey by Hudson Employment Index found that one in five workers say better benefits would make them more satisfied with their compensation packages. However, only three out of four claim to be satisfied with their compensation. But, of those, 44% said they would change their mix of cash and benefits if given the chance.

According to a news release on the survey, Hudson also found that 33% of employees would choose a flexible work schedule if given the choice of unconventional benefits. Some 22% said they would choose more family benefits, which include parental leaves and personal days. This is followed by 16% who would chose supplemental insurance and 13%, job training.

The survey found that 40% of workers do not participate in an employer-sponsored retirement plan, and of them, 30% work for an organization that does not offer one. Some 10% choose not to participate in the plan even if it were offered.

The Hudson survey also examines employee attitudes about traditional and non-traditional pay and benefit programs, including performance management, consumer driven health care, and total reward strategies.

In the area of health care benefits, 26% of respondents said that they work for an organization that offers no health care benefits, and 25% said they would consider working at a company that does not offer them.

Hudson also looked at workers’ attitudes toward Health Savings Accounts (HSA) programs as a form of health insurance. The findings show that those working for companies that offer HSAs had a more favorable view of them. When HSAs are offered 47% had a positive view of them, and that number fell to 34% if their organization did not offer them. Of the 32% who work for organizations with HSAs, 40% participate.

The group surveyed 10,000 US workers.

For more on the Hudson survey contact Nikki Leonardi .