With rising cost-of-living pressures and evolving workforce expectations, a report has revealed shifting priorities with 74% of respondents saying they prefer a slightly lower salary with stronger long-term benefits.
Around 74% of employees interviewed stated that they would choose a slightly lower salary in exchange for stronger long-term benefits such as health insurance, retirement planning, and education support, a report by staffing solutions and HR services provider Genius Consultants has revealed.
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The report by Genius Consultants is based on inputs from 1,139 employees across sectors pan India.
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It further found that currently only 32% of employees felt that their current benefits package effectively supports their financial well-being, while over 61% said their benefits were inadequate.
Over 54% of employees interviewed said their company does not prioritise mental and financial health while implementing wellness programs, said the report.
Around 84% of respondents have confirmed that flexible work options such as hybrid or remote arrangements will help them save and manage their finances more efficiently, it said.
This indicates a strong correlation between workplace flexibility and financial wellness, beyond productivity gains, added the report.
About 73% of employees agreed that performance-based bonuses and incentives will significantly ease their current financial concerns, which revealed a growing preference for variable compensation that rewards individual performance and helps bridge income gaps, it stated.
'Today's workforce is redefining the value of compensation. Financial well-being is no longer limited to take-home salary, it includes long-term security, flexible work, and incentives that support individual life goals.
Organisations must recognise that offering sustainable, future-focused benefits is not just an HR function, but a strategic investment in employee loyalty, productivity, and growth,' Genius Consultants Chairman and Managing Director R P Yadav added.
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