5 Top Benefits US Tech Workers Want in 2024
Now that the dust has settled, and permanent remote work looks to be not so permanent, the economic and social realities of the post-pandemic world are coming into sharper focus for workers.
As a result, a key focus for employees in 2024 will be company benefits, including a marked evolution in the expectations that workers have to stay motivated and appreciated. To that end, Mercer’s Health & Benefit Strategies for 2024 examines how the benefits landscape may be reshaped next year.
With nearly two-thirds of business leaders (64%) saying they are planning to improve their health and wellbeing offerings next year, this is good news for workers––as long as those enhancements will meet their expectations and improve work-life balance.
With many companies also planning on implementing back-to-office mandates, the report recommends that benefit expansions and improvements should seek to add value to the employee experience.
There are the loud and clear topline benefits like healthcare and paid time off, but there is enormous value to be derived from voluntary benefits that suit your lifestyle too.
The five top benefits American workers will be seeking in 2024 include:
A survey by KFF revealed healthcare to be a significant worry for half of American adults, with the premium for family coverage rising by almost 47% in the past decade, with a 7% increase in 2023 alone.
What workers really want here is for the cost of healthcare to be reduced or, better yet, eliminated entirely. Currently, 15% of employers offer 100% coverage, up from 11% on Mercer’s 2022 figure, so this upward trajectory should continue.
#2. Cost-of-living subsidies
Everything is more expensive now, from commuting to groceries, so practical support like free or subsidized meals in the workplace, reimbursement of travel costs, home-office expenses, and even personal loans are top of the agenda for workers into 2024.
#3. Family subsidies
What many workers want, particularly women, are workplace benefits that support family life. With 46% of employers either offering or planning to offer support around family planning, breastfeeding and other postpartum areas in 2024, this is a welcome step.
Childcare supports and services are also set to increase, including cost subsidies, referrals and on-site facilities. However, more than half of businesses state that such benefits are not on their agenda at all, despite the pandemic highlighting the challenges that exist for working parents.
#4. Increased flexibility
A 2023 survey revealed that 73% of tech leaders believe workers with higher flexibility are more productive. Workers also want to define when and where they work, without being required to be in the office if it doesn’t suit them.
Unlimited PTO policies form part of this new flexibility for some tech firms too, and a massive 72% of businesses offering this policy reported that staff took the same amount of leave as with a defined limit.
#5. Training and education
A career with longevity matters. So upskilling and personal development, whether in your role or outside of it, is another area that can boost morale and productivity. And this makes sense too––it provides an ever-widening talent pool ready to help expand company operations when the time is right.
If you’re after a better salary and benefits, your next role is waiting at the Nextpit Job Board.
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Start your job search today on the Nextpit Job Board. This article was written by Doug Whelan.