Summarize this content to 2000 words in 6 paragraphs More U.S. employers are dangling benefits to attract job applicants, a trend that could especially buoy workers in sectors that traditionally don’t offer them. Nearly 60% of posted job ads list one or more benefits, up more than 50% from 2020. That’s according to a new analysis by career services firm Indeed.com, which tracked the number of U.S. listings on its platform between January 2020 to May 2024 that mentioned at least one employer-sponsored benefit.The analysis found that since the pandemic, more companies have been listing benefits such as paid time off and health coverage in their job ads. While the trend encompasses companies across the board in every industry and salary level, it is most prevalent among low-wage and low-remote jobs, which generally offer few benefits.
“We’ve had a tight labor market following pandemic shutdowns where there is a lot of competition for hires,” said Allison Shrivastalla, an associate economist at Indeed Hiring Lab and author of the report. “It’s likely that employers have increased their usage of benefits in postings — especially in sectors where benefits aren’t as expected — to attract job seekers.”As of May, 62% of job postings in low-wage sectors highlighted at least one benefit. That compares with 57% of postings in mid-wage sectors and 58% of postings in high-wage sectors.
Family benefits still rareUnlike medical and insurance, retirement and paid time off, which are the most common types of benefits advertised by employers in job listings, family benefits remain a rarity, appearing in just 7% of all postings, although that is up from 2.5% in 2020, Indeed found. The coveted category of benefits includes paid parental leave, adoption assistance, family leave and bereavement leave.”Those tend to be unexpected benefits,” Shrivastalla said. “So, say you were an employer in a sector that did have a lot of those implied benefits — advertising a family-related benefit could still set you apart, because it is still pretty rare.”To be sure, the jump in job postings featuring benefits doesn’t necessarily reflect an increase in the number of companies offering benefits — only a rise in employers choosing to advertise them. As noted by Indeed only time will tell if more workers in lower-wage sectors will have access to retirement benefits for example. Still, the recent shift is a step in the right direction, Shrivastalla said.
“I think it’s a great thing that benefits are increasing across the board and that some of those gaps are closing between safe tiers and things like that. And if I were a job seeker in a sector where postings are less likely to be given, then I would probably be looking at advertised benefits when considering what jobs to apply for. Same as if I were an employer in one of those sectors.”
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Anne Marie Lee
Anne Marie D. Lee is an editor for CBS MoneyWatch. She writes about topics including personal finance, the workplace, travel and social media.
