Finance Industry Ranked the Best for Benefits

July 15th, 2016

Ross Campbell Financial Services Insurance Recruiter
By Ross Campbell, Toronto Financial Services & Insurance Recruiter

There are countless things that people factor into their decision to apply for a job. Salary, company reputation, opportunity for career growth, and the list goes on. One of the things that is increasingly on the top of the list are employee benefits.

According to research from Glassdoor, four out of five people prefer new benefits over a pay raise, and benefits are now more important than ever.

“Unlike salaries, benefit packages are highly diverse. Access to benefits matters, but so does the quality of those benefits,” says Gloria Tian and Dr. Andrew Chamberlain in The Best Industries for Benefits: An Analysis of Glassdoor Benefits Reviews.

Finance Industry Offers the Best Employee Benefits

Glassdoor also found that the finance industry is leading the way, providing the best benefits to employees – great news for accountants, finance managers, and others working in the finance industry.

Finance companies received a score of 3.7 out of 5 rating for overall benefits, with technology (3.7) and manufacturing (3.6) rounding out the top 3.

Glassdoor also looked at the companies offering the worst benefits, with the worst being restaurants and food services (2.7), retail (3.1), and business services (3.4).

Benefits That Improve Employee Satisfaction

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Core benefits remain desirable for employees. According to Glassdoor’s global Benefits Reviews database, the following benefits are most desirable:

  • Health insurance
  • Vacation and paid time off
  • 401K and retirement benefits
  • Perks and employee benefits
  • Maternity leave

 

It is no surprise that these benefits remain an important factor for employees, regardless of industry.

How the Finance Industry Scored for Specific Benefits

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As part of their research, Glassdoor examined a number of specific benefits – maternity leave, retirement benefits, free food, snacks, perks.

The finance industry scored well in all these categories:

  • Maternity leave (3.77/5) – number 1 industry
  • Retirement benefits (3.83/5) – number 1 industry
  • Free food, snacks, perks (3.76/5) – tied for number 5. Information Technology was ranked number 1 with a rating of 4.06/5.

 

If you are looking to attract and retain top talent in the finance industry or any other industry, offering good benefits packages can help. Learn more about recruiting top talent by reading these blogs from our experienced finance recruiters in Toronto:

An Overview of the Top Jobs in Accounting & Finance in 2016

3 Ways to Avoid Losing New Hires to Counter Offers

3 Tips to Recruit the Millennial Generation

IQ PARTNERS is an Executive Search & Recruitment firm in Toronto. We help companies hire better, hire less & retain more. We have specialist teams of recruiters in Financial Services & Insurance, Marketing Communications & Media, Emerging Tech & Telecom, Consumer Goods & Retail, B2B & Industrial, Technology, Accounting & Finance, HR & Operations and Mining & Engineering. IQ PARTNERS has its head office in Toronto and operates internationally via Aravati Global Search Network. Click here to view current job openings and to register with us.

Ross Campbell

Ross Campbell is a Partner and Practice Lead, Financial Services & Insurance with IQ PARTNERS. Celebrating over 10 years of management consulting experience in executive search, recruitment, and training in Canadian financial services and insurance companies, Ross thrives on the belief that business can be done significantly better by investing in the right people.