What Employees Want in Their Compensation Package [INFOGRAPHIC]

June 2, 2015

4:00 pm

As we’ve observed here, on Tech.Co, salary isn’t always everything when it comes to attracting the right employees to a company. Oftentimes, it comes down to the overall package that you can offer a future member of your company. Aside from compensation, potential employees are often attracted by the kind of company culture the types of benefits that you’re able to provide that can’t be found elsewhere.

According to a recent infographic created by Cloud-based HR and payroll platform Namely, a good overall benefits and compensation package can often signal that employers care for the well-being of an employee. And, what’s more, by believing this, they are 38 percent more engaged than those who don’t get the same sense from their employers.

We’ve seen before how 56 percent of employees would trade a salary increase for certain perks. Whether that’s in the form of gym memberships, casual dress codes, or flex time and remote work, employees nowadays are more willing than ever to forego higher salaries for better on-the-job benefits. And, oftentimes, not offering benefits that allow for things like work-life flexibility can actually lead employees to leave your company.

The infographic from Namely looks at everything that employees look for when it comes to their complete compensation package, and what percentage of companies actually offer certain benefits. For instance, one of the bigger takeaways from the infographic is that 80 percent of employees believe that their benefits package will influence their overall engagement at their employer – an important consideration for any startup. We also learn that Preferred Provider Organizations (PPOs) are the most preferred healthcare plan offered by companies.

Of course, benefits aren’t everything. Sometimes, company culture is really what it comes down to. In an article we published in May, we discovered that a companies with cultures that emphasize consistent and open communication are likely to be more attractive to potential employees than companies simply offering trendy benefits.

Take a look at the full infographic from Namely below:

04_2015_BenefitsInfo_052915_972px

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Ronald Barba was the previous managing editor of Tech.Co. His primary story interests include industry trends, consumer-facing apps/products, the startup lifestyle, business ethics, diversity in tech, and what-is-this-bullsh*t things.

Aside from writing about startups and entrepreneurship, Ronald is interested in ‘Doctor Who’, Murakami, ‘The Mindy Project’, and fried chicken. He is currently based in New York because he mistakenly studied philosophy in college and is now a “writer”. Tweet @RonaldPBarba.

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