Workplace Shift: Embracing Benefits Over Higher Salaries

Amid rising living costs and changing workplace expectations, a new report highlights a notable shift in employee priorities. According to the study by Genius Consultants, 74% of employees prefer long-term benefits like health insurance and retirement planning over slightly higher salaries.

The report surveyed 1,139 employees across various sectors in India and found only 32% of respondents felt their current benefits effectively supported their financial well-being, whereas over 61% considered them inadequate. Furthermore, more than half noted their company did not prioritize mental and financial health in wellness programs.

An overwhelming 84% of employees indicated flexible work arrangements, such as hybrid or remote options, as critical to managing finances efficiently. Additionally, 73% favored performance-based bonuses to address financial concerns, underscoring a shift toward variable compensation models. The findings urge organizations to redefine compensation strategies as integral to employee loyalty and productivity.

(With inputs from agencies.)