Monday, November 17, 2014

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[IWS] EBRI: VIEWS ON THE VALUE OF VOLUNTARY BENEFITS: FINDINGS FROM THE 2014 HEALTH AND VOLUNTARY WORKPLACE BENEFITS SURVEY [17 November 2014]

IWS Documented News Service

_______________________________

Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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This service is supported, in part, by donations. Please consider making a donation by following the instructions at http://www.ilr.cornell.edu/iws/news-bureau/support.html

 

Employee Benefit Research Institute (EBRI)

EBRI NOTES, November 2014, vol. 35, No. 11

 

VIEWS ON THE VALUE OF VOLUNTARY BENEFITS: FINDINGS FROM THE 2014 HEALTH AND VOLUNTARY WORKPLACE BENEFITS SURVEY [17 November 2014]

http://www.ebri.org/publications/notes/index.cfm?fa=notesDisp&content_id=5459

or

http://www.ebri.org/pdf/notespdf/EBRI_Notes_11_Nov-14_WBS.pdf

[full-text, 10 pages]

 

Executive Summary

 

·         Three-quarters of workers state that the benefits package an employer offers prospective workers is extremely (32 percent) or very (44 percent) important in their decision to accept or reject a job.

 

·         Nevertheless, 34 percent are only somewhat satisfied with the benefits offered by their current employer, and 22 percent are not satisfied.

 

·         Eighty-six percent of workers report that employment-based health insurance is extremely or very important, far more than for any other work place benefit.

 

·         Workers identify lower cost (compared with purchasing benefits on their own) and choice as strong advantages of voluntary benefits. However, they are split with respect to their comfort in having their employer choose their benefits provider, and think the possibility that they may have to pay the full cost of any voluntary benefits is a strong or moderate disadvantage.

 

Press Release 17 November 2014

Workers Rate Benefits Important, Show High Take-Up Rates

http://www.ebri.org/pdf/PR1099.WBS.17Nov14.pdf

 

WASHINGTON—The vast majority of workers say their benefits package is important to their decision

to take a job, as supported by the high take-up rates when benefits are offered, according to a new report

by the nonpartisan Employee Benefit Research Institute (EBRI).

Based on the latest results from the Health and Voluntary Workplace Benefits Survey (WBS) by

EBRI/Greenwald & Associates, workers also say overwhelmingly that health insurance is the most

important workplace benefit by far.

 

Specifically, the WBS found that three-quarters of workers state that the benefits package an employer

offers prospective workers is extremely (32 percent) or very (44 percent) important in their decision to

accept or reject a job. Among those offered the benefits, 80 percent or more signed up for health, dental

and retirement benefits.

 

AND MORE....

 

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

 

 

 

 

 

 

 

 

 




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