Workforce Report | Employers with Benefits

Many generations of workers in the United States have participated in company-provided benefits, like healthcare, life insurance, and profit-sharing since the 1950s. Before World War II, most Americans paid their healthcare providers directly for services performed. 

The state of Ohio’s total population breaks down the source of healthcare coverage as follows:

• 52.6% Employer
• 4.0% Non-Group
• 20% Medicaid
• 15.9% Medicare
• 0.8% Military
• 6.7% Uninsured

Job seekers and incumbent workers are evaluating not only pay for their work but also the benefits being offered to them by their employers. In addition to the insurances previously mentioned, today’s worker is looking for companies that offer some of the following: 

• flexibility of workplace/hours
• mental health and wellness assistance
• child/elder care and support
• professional development
• financial literacy education and budgeting tools
• student loan repayment help
• performance bonuses and more

Over 35% of the workforce is now comprised of Millennials (born between 1981 and 1996). The Top 5 most desired company offered benefits among this peer group are:

• Student loan repayment assistance
• Paid Time Off as a bonus
• Work hours that are neither 9-5 nor on-site (when possible)
• Corporate responsibility in societal issues
• Investment in their professional development

Gen Z (born between 1997 and 2011) represents our newest entrants to the workforce and comes with their own set of expectations from the workplace. In addition to the standard benefits package of health/life insurance and paid time off, they value:

• Learning and Development
• Mental Health and Wellness Resources (TeleMed as an option)
• Financial Literacy and Education
• Lifestyle Spending Accounts (covering gym memberships, continuing education not covered by employer)

As you build your workplace to best reflect the needs of your employees, consider reviewing and updating you’re your benefits packages. 

To continue the conversation, join us for our Experience Series: The Whole Package.

Kelly Fuller 
Vice President of Talent & Workforce Development 
KellyFuller@columbus.org