A recent AICPA survey found that employees – by a whopping 4-to-1 margin – would choose a job with benefits over an identical job that offered 30% more salary but no benefits. What do you think?
Of course, depending on the benefits (and salary), benefit costs add up to about 30% of pay – and so, while financially the tradeoff might be seen as “equal.” Interestingly though, that survey found that employed adults appear to overestimate the value of their benefits – assuming that their benefits represent 40% of their total compensation package, though the Bureau of Labor Statistics, puts that figure at about 31.7%.
This week, we’d like to know what you think – do (most) workers understand – and appreciate their benefits? What, if anything, are your plan sponsor clients doing to help workers understand – and maximize their benefits? Do benefits still work to attract and retain qualified workers? Do you know (and take full advantage of) your benefits?
Respond to this week’s NAPA Net reader poll at https://www.research.net/r/S9WWDYH.
We will, of course, wrap it all up for you on Friday.
