Remote workers want new benefits. This is how employers are responding
Employers who update their privileges to accommodate new work preferences will earn in more ways than one.
Now that more professional workforces are working remotely, employers are forced to rethink the types of benefits they can offer to attract new employees and prevent their existing employees from going elsewhere.
A survey of more than 1,000 professionals by Paychex found that employees who update their benefits packages to new work preferences benefit from increased productivity, higher job satisfaction, and improved company culture as a result.
Paychex, a company that provides payroll and human resources services to small and medium-sized businesses, found that 65% of employees whose benefits have changed since switching to remote work reported an increased level of job satisfaction, while 73% of employees indicated that productivity levels improved when employers adjusted their benefits package.
Similarly, 64% of employees whose company has updated their benefits have no plans to leave over the next year, compared to 47% of those whose work benefits have not changed.
The most common benefit updates for remote workers included flexible working hours and performance bonuses. When asked what additional benefits they want, employees put a salary in the Ministry of internal affairs (31%) and reimbursement of internet costs (30%) in the first two places.
The four-day work week was also a great desire among employees, especially older workers. The idea of reducing employee working hours is rapidly gaining momentum: just this week, the world's largest experiment of the four-day workweek began to explore its impact on productivity, job satisfaction, and employee well-being.
Paychex found that only 45% of survey respondents reported a change in company benefits since switching to telecommuting. However, it found that both employers and employees would gain from modifying benefit packages in light of evolving work patterns and preferences.
Employers often noted an improvement in employee morale (67%) and productivity (63%) after updating their benefits packages. Bayshix noted that given how severely employee morale has been tested over the past two years, "it's encouraging to see a path to improvement."
Employers (43%) and employees (58%) also noted an improvement in workplace diversity since adapting to telecommuting: %24 leaders said they had started hiring employees working in other states since their telecommuting orientation, meaning they cast a wider net when it comes to hiring.
However, one-third of employers still report limiting where their employees can live, Paychex found.
"The evidence strongly supports the positive impact of employers adapting their benefits to New telework cultures. But adapting them without careful thought, in general, will not cut it".
"Instead, employers should listen to the specific wishes of their employees and engage in a positive feedback cycle. Employers who do so are likely to enjoy benefits ranging from increased productivity, increased diversity, and improved morale."
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