Employee Benefits Trends and Data (Updated for 2024)

Statistics reveal that a strong benefits package is one of the main factors in keeping employees engaged. Read on to find up-to-date employee trends and learn how they shape employee choices and company culture.

Benefits Trends

May 15, 2024 ⋅ 4 min read

What employees want from their benefits

• 75% of employees state that they are more likely to stay with their employer because of their benefit program.
  (Source: WTW)

• 78% of employees agree that benefits are very or extremely important in their decision to accept or reject a job.
  (Source: EBRI)

• 69% of employees would choose one job over another if it offered better benefits.
  (Source: One Medical)

• 73% of employees would be encouraged to stay with their current employer for longer if offered access to more benefits.
  (Source: MetLife)

• 49% of employees would bear more of the cost to have access to more benefits that suit their needs.
  (Source: MetLife)

• 40% of employees feel less stressed when their company offers benefits.
  (Source: TotalJobs)

Employee engagement statistics

• Businesses rated highly in employee engagement are 14% more productive than less engaged companies.
  (Source: Gallup)

• The average employee turnover rate in the UK is approximately 15% per year, although this varies drastically between industries.
  (Source: Monster)

• The UK has one of the lowest employee absence rates in Europe, with each worker taking an average of 4.6 sick days per year.
  (Source: Safe Workers)

• Businesses who score highly for employee engagement have 81% less absenteeism compared with less engaged companies.
  (Source: Gallup)

• 73% of survey respondents reported they don't measure the engagement rate of their benefits.
  (Source: Ben Benchmarking)

• Engaged employees are 21% more productive than disengaged employees.
  (Source: Gallup)

• 48% of HR directors are seeing poor uptake of employee benefits because “employees don’t seem interested” in what is on offer.
  (Source: People Management)

Benefits benchmarking data

• Benefits related payroll errors cost companies $140 per employee per year.
  (Source: EY)

• There has been a 48% increase in the average benefits score from Ben’s Benefits Benchmarking survey, with the average score rising from 29 in 2022 to 43 in 2023.
  (Source: Ben Benchmarking)

• Companies rated highly on benefits and compensation saw 56% lower attrition than those rated lower.
  (Source: LinkedIn Talent Solutions)

• Only 2.8% of companies are looking to decrease their benefits budget over the next 12 months.
  (Source: Ben Benchmarking)

• 44% of companies in 2023 are looking to increase their benefits budget over the next 12 months.
  (Source: Ben Benchmarking)

• 53% of employers now offer some kind of salary exchange or salary sacrifice program.
  (Source: Ben Benchmarking)

Health & wellbeing employee benefit statistics

• Burned-out employees are 63% more likely to take a sick day and are 23% more likely to go to A&E.
  (Source: Gallup)

• Depression and anxiety cost the global economy $1 trillion each year in lost productivity, presenting a strong business case for investing in employee wellbeing and mental health support.
  (Source: World Health Organization)

• There was a 14% uplift in the number of employers offering mental health benefits from 2022 to 2023.
  (Source: Ben Benchmarking)

• 88% of workers report that employment-based health insurance is extremely or very important, far more than for any other workplace benefit.
  (Source: EBRI)

• 72% of employers say that stress, burnout, and other mental health factors are benefits challenges for their company.
  (Source: MetLife)

• 86% of employers believe they are responsible for the health and well-being of their team.
  (Source: MetLife)

• Employees with access to assistance programs are 34% more likely to report improved mental health over 12 months.
  (Source: MetLife)

• 59% of employees have not called in sick when they needed to.

  • 36% of respondents did not think there was anyone to cover them.
  • 28% did not want to miss work and 16% had a deadline to meet.

Remote work statistics

• 64% of millennials would like to have more flexibility in when and where they work.
  (Source: Deloitte)

• 74% of companies in 2023 still offer the ability to work remotely.
  (Source: Ben Benchmarking)

  • When asked how often remote working was allowed, 52% reported that remote work was allowed a few times a week.
  • 29% said the option was fully flexible.
  • 10% said they were a fully remote organisation.

Flexibility at work trends

• 73% of employees want a more tailored benefits package.
  (Source: Get Living)

• Employees who are content with their employers’ time and location flexibility are more than two times more likely to recommend their employer to job seekers.
  (Source: LinkedIn Talent Solutions)

• Employees are 18% more likely than before the pandemic to accept a new role if it offers a flexible work schedule and the ability to work remotely.
  (Source: MetLife)

Final thoughts

The numbers don’t lie–as you can see, data clearly shows that employee benefits play no small role in building a top-of-the-line team and keeping them engaged and ready to do their best work (for the long haul!).

As the world of work evolves, so should your benefits strategies. Investing in an exceptional benefits package not only supports your employees but also boosts your company's productivity and reputation.

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We aim to keep these statistics as up-to-date as possible. Each data point is reviewed by our team every six months.