Benefits Transparency x2 for in-person jobs
Pay transparency is growing rapidly in all business sectors and role types, and is here to stay. It has been encouraged by regional legislation, a tight labor market, and the fact that it provides a significant recruitment sales tool for employers.
Benefits transparency has also increased dramatically, in low-wage jobs in-person jobs in particular, as is viewed as a significant recruiting tool for employers in a tight labor market.
Indeed postings in low-wage sectors that are more likely to be in person have seen the fastest growth in the advertisement of health insurance, paid time off, and retirement plans over the past three years.
Job postings in in-person sectors nearly doubled in the advertisement of retirement plans from August 2019 to August 2022.
Dental postings lead in advertisements of all three major benefits, with 62.4% of dental job ads in August 2022 highlighting paid time off.
Pay and benefits transparency has the most immediate (and dramatic) positive impact on low-wage, in-person jobs. Pay transparency has a dramatic positive impact across all wage groups. Benefits transparency will likely grow in importance in high-wage sectors when other factors (remote & high pay) level out.
Lastly, these articles infer that benefits are advertised as descriptive text inside job descriptions: Indeed only supports text job descriptions, and the average character length of a job posting on Indeed jumped nearly 20% due to, in part, the inclusion of benefits verbiage. One may conclude that the impact of transparent pay & benefits will be even more significant when these are presented as visual interactive job descriptions, complete with total rewards calculations.
View Indeed’s Benefits transparency paper here.
