Voluntary benefits growing in importance among employers

The share of survey respondents who say that employee-paid voluntary benefits were key to their decision to join and stay with their companies, though generally lower by comparison, are still significant.

The survey finds that between four and five out of ten employees view voluntary life, dental and disability benefits as key to their decision to join their employer (45 percent) and stay with their employer (47 percent). In respect to voluntary supplemental health benefits, the shares are 38 percent and 42 percent, respectively.

"The weak economy has sharpened employee interest in benefits — especially for benefits that meet personal and diverse needs," the report states. "Seventy-seven percent of employees value benefits geared to their individual circumstances and voluntary products can satisfy this desire for more choice and customization in their benefits program."

The survey adds that more than six in ten (62 percent) of surveyed employees say they want employers to diversify their voluntary benefit offerings. The desire is most pronounced among young workers: 70 percent of Gen Y employees (born 1981-1994) and 67 percent of Gen X employees (1965-1980).

These shares compare to 60 percent and 44 percent, respectively, of young boomers (1956-1964) and older boomers (1946-1955).