Curious about the most sought-after employee benefits in 2023? Hubex gathered insights from our BenefitHub portal, analysing individual company portals, employee trends, and compiling data based on the most clicked and viewed benefits.
With the ever-evolving landscape of the professional world, companies are constantly seeking innovative ways to attract and retain top talent. One key aspect that plays a crucial role in employee satisfaction and retention is the array of benefits offered. As we delve into the 2023 data, let's explore the most popular employee benefits, shedding light on the trends that are shaping the modern workplace.
Bike to Work (44%): Embracing Sustainable Commuting
In an era marked by a growing awareness of environmental issues, it comes as no surprise that Bike to Work programs have claimed the top spot. With a substantial 44% opting for this benefit, companies are not only promoting a healthier lifestyle but also contributing to a greener, more sustainable future.
Fitness/Wellbeing (16%): Prioritising Employee Wellness
The focus on employee wellbeing continues to gain momentum, with 16% of individuals choosing fitness and wellbeing programs. From gym memberships to wellness workshops, employers are recognising the importance of fostering a healthy work-life balance for their teams.
Shopping Discounts (13%): Beyond the Workspace Perks
Employees are increasingly valuing benefits that extend beyond the office. Shopping discounts, with a 13% preference, provide a tangible and enjoyable way for individuals to save money on their everyday purchases, enhancing their overall quality of life.
Taxsaver (6.5%): Financial Perks That Matter
Recognising the financial stress that employees may face, companies offering Taxsaver benefits are gaining favour. This benefit, chosen by 6.5%, allows employees to make substantial tax savings on their public transport commuting tickets, be it bus, Luas, Dart, train or private coach.
Dental (5.5%): A Smile Goes a Long Way
Dental benefits, selected by 5.5%, remain a staple in employee packages. Ensuring dental health not only contributes to overall wellbeing but also reflects an employer's commitment to comprehensive healthcare for their workforce.
Health Insurance (3.5%): A Fundamental Employee Assurance
Despite being lower on the percentage scale, health insurance remains a fundamental benefit, providing employees with peace of mind and access to essential medical services.
In House Benefits (3.3%): Tailored Perks for the Work Environment
In-house benefits, encompassing perks directly within the workplace, are favoured by 3.3%. This could include anything from employee recognition, holiday entitlements, the purchase of additional days off to recreational facilities, creating a positive and engaging work environment.
PRSA (2%): Planning for Retirement
As employees become more mindful of their future, the inclusion of Personal Retirement Savings Accounts (PRSA) as a benefit option is gaining traction, with 2% of individuals choosing this option.
Flu Jab (1.3%): Prioritising Preventive Healthcare
With a focus on employee health and wellbeing, companies offering flu vaccinations as part of their benefits package are seeing a 1.3% uptake. Preventive measures like these contribute to a healthier and more productive workforce.
Vision Insurance (1.3%): Clearing the Path for Visual Health
Rounding out the list is vision insurance, chosen by 1.3%. This benefit underscores the importance of addressing not just physical but also visual health, contributing to overall employee wellness.
Baby Academy (0.7%): Nurturing the Next Generation
While at the bottom of the list, Baby Academy benefits reflect a niche yet significant offering, supporting employees in their journey through parenthood. This inclusive benefit is chosen by 0.7% of individuals, showcasing a commitment to work-life balance.
In the dynamic landscape of employee benefits, the preferences of individuals are ever-changing. As we navigate the professional landscape of 2023, companies that stay attuned to these trends and tailor their offerings accordingly will undoubtedly stand out as employers of choice. The key lies not just in providing benefits but in understanding and addressing the diverse needs and priorities of a modern workforce.
If you would like to speak to our team about tailoring your employee benefits offering with our BenefitHub portal, please drop us a line on info@hubex.ie.
Alternatively, if you would like to speak to us about boosting more Active Commuting in your organisation with our TravelHub product offering for the administration of both the Bike to Work and Taxsaver Ticket schemes then call us today on Phone: +353 1 5143520
