Just over 4 in 10 U.S. workers are extremely or very satisfied with their benefits packages, the 2024 EBRI/Greenwald Research Workplace Wellness Survey found. This percentage is in line with previous years of the survey.
Health insurance is most often mentioned as a top benefit when deciding whether to stay at a current job or leave (72%), followed by a retirement savings plan (55%). Paid sick/vacation time is increasingly important (47%, up from 32% in 2022). Accordingly, health insurance is the benefit offered most often by employers (83%), followed by a retirement savings plan (79%). Of those who are offered each benefit, employees most often select a retirement plan (85%, up from 79% in 2023), followed by health insurance (83%) and dental insurance (81%).
The top suggested improvements are:
- Greater financial contributions from their employer, 51%;
- More resources/benefits to help with financial wellbeing, 32%;
- More choice, 31%; and
- PTO conversion, 31%.
More than half of respondents say work-life balance is one of the top three benefits valued most, outside of income and compensation. Although most rate the work-life balance at their company as at least good, one-quarter say it is fair or poor.
Four in five report being offered paid vacation, and three-quarters are offered paid sick time. Of those, workers are offered an average of 19 days of PTO per year, but less than half use all of the days given to them. On average, workers who do not have unlimited PTO use 79% of the PTO allotted to them. Sixty percent are banking those unused days in case there of emergency, 32% would prefer to work and 25% would like to use it but do not have the funds to enjoy PTO/vacation.
Workers generally are comfortable requesting PTO, although 2 in 5 are not very comfortable doing so. Of those, 40% are uncomfortable because they worry it will leave the employer understaffed, 37% believe their boss will think they are slacking and 32% don’t think their workload allows for it.
On the negative side, 7 in 10 are concerned that employers will reduce or eliminate retirement benefits. A similar share are concerned about layoffs or reduced hours, and 3 in 10 report budget cuts in the past year.