Employee Benefits

McKinsey Quarterly survey findings shows that vast majority of executives say that employee benefits help their companies attract and retain talent and that benefits are important to competitiveness of a firm.

The respondents acknowledge that employee benefits have a significant impact on company finances. Sixty-three percent of the executives whose companies offerboth health care and retirement benefits view health care benefits for current employees as being more critical to a company's long-term financial health.

Whatever the cost of benefits, it is clear that executives think investing in them is worthwhile, even crucial. An overwhelming majority—89 percent—say that providing benefits is either "somewhat important" or "extremely important" to their company's ability to compete effectively