Remote’s Global Benefits Report 2022
Discover the benefits global employees want and need in 2022 and beyond.
Benefits that matter
2,500+ decision makers and employees in key markets share the benefits that matter in the new world of work.
You’re a business leader expanding your workforce across the globe. With partners like Remote, international hiring has never been easier. But as we recover from the global pandemic, the workforce continues to shift rapidly, and so do the expectations of the employees you’re working to recruit and retain.
Over half of company decision makers expect their employee network to become more geographically distributed over the next five years.
But while the talent pool is larger than ever, so too is the pool of opportunities for top talent. How can your business stay competitive and become a trailblazer in this new era of work?
The answer is one that many overlook – the power of benefits.
US, UK, Eastern Europe, Brazil & India
Our 2022 study of global benefits is a first-of-its-kind report on benefits and employment trends in these key markets.
In addition to region differences, our research shows that benefits expectations differ based on factors including geography, gender, age, remote/hybrid vs. on-site, and more.
It’s crucial to understand these differences as you expand across the globe
Benefits are also more important during times when company budgets are constrained and cost efficiency is essential.
What you’ll learn:
- An understanding of emerging benefits trends globally
- Insights into what benefits employees in different regions consider to be essential and innovative
- An understanding of flexible work as a modern benefit and what benefits remote workers want and need
- Guidance on how to build a more diverse, equitable, and inclusive workforce with your benefits offerings
Our goal is to help employers understand the macro and micro changes in the workforce when it comes to benefits and flexible work.
This includes understanding what benefits their global employees want and need, how to create a healthier and more connected company culture, and how to build a more diverse workplace where everyone has the opportunity to thrive. Download the full report now and also see our key takeaways shared below!
Flexible work as a benefit
Remote work is here to stay.
Both employees and decision makers agree: Remote and global workforces will continue to grow.
62%
of decision makers expect remote work to become more common over the next five years, and 69% of employees feel the same.
For employers, the upside of this is that remote workers are typically more satisfied and don’t need as many perks as their on-site counterparts, as the ability to work flexibly is a crucial benefit in and of itself.
Offering “flexible work” will help companies attract top talent.
When considering a job offer,
29%
more workers look for “flexibility” than “the ability to work remotely” (23%).
What knowledge workers today are looking for is true flexibility, with no strings attached. Employers looking to recruit the best talent would do well to offer flexibility as a benefit (beyond just the ability to work remotely) and tailor their job postings accordingly.
Company decision makers are using flexible work to their advantage.
Remote work is here to stay, and decision makers at many companies are using the global desire for more flexible work to their advantage. When considering offering remote or flexible work, most leaders say the decision is driven by a need to improve retention, to gain access to new markets, and to respond to their employee’s requests and needs.
Remote employees value flexibility more than other employment factors.
We segmented our data to identify differences between fully on-site workers, hybrid workers, and fully remote workers. For remote and hybrid workers, flexibility is an essential benefit. In fact: the majority of these employees
57%
rank flexibility as even more important than their compensation (40%).
While employees should never have to sacrifice fair compensation for flexibility, this drives home how important this benefit is for employees who could do their jobs from anywhere.
How do the needs of remote employees compare to those on-site?
Get our free report for the breakdown!
Competing for global talent
Employers are losing talent to companies with better benefits.
60%
of employees say they have chosen one job over another because it offered a better benefits package.
Offering better benefits enhances employee retention.
78%
of company decision makers have seen greater employee retention after adding or improving benefits packages.
Retention is a top consideration for company decision makers, and better benefits can help build the trust between employers and their employees that makes it easier to sustain and scale their teams.
Employees are less satisfied with their benefits than their employers think.
90%
of company decision makers believe that their employees are satisfied with their benefits, only
72%
of employees indicate they actually are satisfied.
Additionally, 77% of employees state that they have experienced challenges with the benefits and perks offered by their companies. This suggests that people leaders need to take a closer look at their benefits offerings and reevaluate the needs of their workforce in order to stay competitive in the talent marketplace.
Localized benefits can provide employers with a competitive edge.
An unignorable trend is the number of international employees who now expect benefits to be tailored to their specific needs, with
67%
large majority stating that they expect their benefits to be comparable to those of other professionals in their country or city.
Localized benefits plans can provide employers with a big advantage when trying to recruit the best talent in highly competitive fields. On the flip side of this, almost half (44%) of all company leaders say they’ve lost international employees or had international candidates turn down offers because the benefits offered in their country weren’t adequate.
Meeting employee’s individual needs trumps considerations about the organization.
The most important things to employees when seeking a new job:
63%
Compensation
40%
Career growth potential
38%
Benefits/perks
...outranking considerations focused on the organization like prestige or culture. While an overtly bad culture might push candidates away, a neutral or good one might not be a strong pull to get them to sign on the dotted line compared to the things that meet their individual needs, such as benefits.
Good benefits are even more important when budgets are constrained.
88%
of employees say that when money is tight, having good benefits that cover their fundamental needs becomes even more important. Additionally,
79%
agree that if a company needs to freeze salaries due to a difficult economic climate, offering a good benefits package can still set it apart as an appealing place to work.
This shows that during challenging business and economic times, benefits can help maintain positive relationships between global team members and employers and allow businesses to continue to scale.
What benefits might you be wasting your budget on?
Download the full report to find out:
Diversity, Equity, and Inclusion (DEI)
Benefits are more important to female employees
Female employees say that benefits and perks are one of the most important factors for them when considering a job offer, second only to salary.
Male employees, on the other hand, value salary and opportunities for career growth more than their benefits packages. Business leaders who hope to attract and retain more female talent and create a more equitable company culture cannot overlook the importance of benefits.
The most essential benefit for women is time off
For women, sick leave, paid holidays, and parental leave are more essential than they are for men (who instead place a higher value on bonuses and severance pay.) Along this vein, women also place greater importance on flexibility, with 32% listing it as one of their most important job considerations compared to 26% of men. In order to create a more inclusive and welcoming workplace for female employees, an emphasis on benefits that provide guaranteed time off and flexibility is crucial.
To build equity & inclusion for older workers, benefits – particularly retirement benefits – are key
Benefits and perks are the second most important consideration for Baby Boomers (52%) and members of Generation X (43%) when evaluating a job offer.
Who deem them more important than their Millennial (38%) and Gen Z (24%) counterparts, who are more interested in career growth opportunities after salary. When it comes to the benefits that older workers want most, after essentials like health insurance and time off, retirement plans with company contributions are considered most important to Baby Boomers (65%) and Gen X (64%), followed by annual bonuses and merit bonuses.
Older workers seek remote work & flexibility too
Dispelling common perception that remote work opportunities are more appealing to the young, nearly a third of each generation says their ideal work setup is to be remote full-time. More than two-thirds of each generation want a work setup that’s at least partially remote.
Which additional perks will set your company apart for women?
See the full report to learn more!