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Employee Benefits

By the Numbers: Voluntary Benefits and Salary Increases

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Published On: May 5, 2022

Each week, the Mployer Advisor team parses through dozens of reports, industry news, updates, and headlines. Not every statistic or data set warrants an exclusive blog post, but there are numbers that deserve to be reported on a smaller scale.    

 

Here are some of the top numbers that caught our attention over the past two weeks.  

 

30% 

  The number of employees who said that pet-related benefits would influence them to stay with their employer, according to a recent Nationwide survey. The survey found that voluntary benefits, including pet-related benefits, could be a differentiator for employees who own pets (especially among Gen Z and Millennials).

The most desired pet-related benefit was pet insurance at 40%, followed by paid time off to care for a pet (29%), then a pet-friendly workplace (27%).   

4x

Individuals in the U.S. who are living in multigenerational households have quadrupled since 1971–reaching 59.7 million in March 2021, according to an article from the Pew Research Center. Furthermore, four in 10 men between ages 25-29 currently live with older relatives. Financial stress is the top reason cited for those in this category.  

 

24% 

The percentage of companies that increased pay or paid bonuses during the pandemic, according to data from the Bureau of Labor Statistics. Accommodation and food services was the sector with the highest percent of establishments offering bonuses at 45.8%. 

 

1/3 

An article from Deloitte states that this is the portion of the workforce made up of Gen Z workers. What’s more, Deloitte researchers predict that Gen Z constitutes more than a quarter of the population and, by 2020, will be the most diverse generation in the nation’s history. 

 

$5,780 

The increase in salary that the average employee says would considerably improve their life, according to a new survey. The employees who were surveyed stated that this number would make a difference to both their mental and physical health. Check out this article for more information on compensation and employee benefits packages.  

 

25%  

The increase in heart attacks on the Monday following the spring forward time change compared to other Mondays, according to a study conducted by a fellow at the University of Colorado. For every hour shifted with the time change, people may need as long as a week to readjust. The passing of the recent bill, “The Sunshine Protection Act” in the Senate could alleviate these problems.  

 

Looking for more exclusive content? Check out the latest over on the Mployer Advisor blog, or read on for our most recent By the Numbers: Stress Awareness Month.  

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Sarah Ann Johnson

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