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March 13, 2009
Flex Time Nears Top of Employee Benefits ‘Wish List’
A new survey has found that flex time is near the top of list of benefits that U.S. workers would like their employers to offer. The same survey found that many respondents wish their employers would improve their current healthcare benefits.

In the Principal Financial Group survey of 1,179 employees, conducted in the fourth quarter of 2008, respondents were asked “Which one employee benefit do you most wish that your company would offer you (excluding vacation and holidays)?”

The most desired benefit was a defined benefit plan, cited as the most desired benefit by 21% of respondents in the Principal Financial Well Being Index survey. This finding was consistent with those of a year earlier (fourth quarter 2007) when defined benefit plans also topped the wish list of employees at 21%.

Meanwhile, a desire for flex time is on the rise—16% named it as tops on their wish list—up from 13% in 2007, considered by Principal to be a significant increase.

Other benefits that received top spots on employee wish lists were profit sharing/bonus plans (by 13% of respondents), defined contribution retirement plans (7%), and tuition reimbursement plans (6%).

Respondents were also asked to identify which one benefit they most wished their employer would improve upon. Far and away, health insurance topped the list, identified by 43% of respondents (up from 39% in 2007). Defined contribution retirement plans were named by 16% of respondents as the benefit they’d most like their employer to improve upon.

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