Employee Benefits Survey

Employee Benefits

The SHRM Employee Benefits Survey returns with new insights for 2023.

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Overall, benefits related to technology expenses remained largely unchanged from 2022 to 2023. One benefit that returned to the survey this year was a company-owned cellphone for both business and personal use. Its prevalence of 40% shows a 14 percentage-point decline since it was last measured in 2019.

Nonretirement Financial Benefits
Although most nonretirement financial benefits remained consistent in 2023, the number of employers offering nonretirement financial advice increased by 10 percentage points to 31%. Perhaps this benefit declined in the pandemic years when other priorities emerged. Now, with persistent inflation, employers may be recognizing the link between employees’ financial wellness and their well-being and productivity.

Continue below to explore these benefits and what organizations like yours are offering.

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How Do Your Benefits Stack Up?

Use the tool below to explore benefit categories by industry, organization size or location

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*For confidentiality purposes, a minimum of five responses is required to show filtered results. For filters resulting in 5-19 responses, results will display an asterisk to denote a low response count.

Rewarding Employees

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Incentive Bonus Plans
Incentive bonus plans (53%) have become increasingly prevalent since their last measurement in 2019 (32%). Several factors may account for this trend, including a highly competitive job market and a growing focus on employee experience and retention. Incentive bonuses are seen as an effective tool for motivating employees and driving performance while also helping align individual performance with organizational goals.
Retention Bonuses
In the fallout of the Great Resignation, employers are seeking cost-effective ways to both retain top talent and reduce turnover. The promise of a retention bonus (23%) can give employees a great incentive to stay with their organization, rather than being tempted to look for work elsewhere or accept a prospective job offer.
Referral Bonuses
Employee referral bonuses (59%) have become more common since 2019, when they were last measured (52%). As organizations navigate the fallout of the Great Resignation, providing referral bonuses to employees may be an effective way to fill open positions more quickly and replace lost talent. As an added benefit for the employer, referrals from current employees may yield higher-quality applicants, as employees may recommend prospects who would be a good fit.