How Much Do Employees Really Value their Work Benefits? | Keynes Fund Project | Benjamin Arold

Описание: Speaker: Dr. Benjamin Arold is an Assistant Professor in the Faculty of Economics at the University of Cambridge: https://www.econ.cam.ac.uk/people/aca...

Keynes Fund project: Read more about Benjamin’s sponsored project here: https://www.keynesfund.econ.cam.ac.uk...

Summary:
Benjamin Arold discusses his research (with co-authors, Elliott Ash, Bentley MacLeod and Suresh Naidu), about how much employees really value their work benefits. By putting the data to the test, Benjamin and his co-authors demonstrate that employees do indeed value their work benefits – so much so that they are often willing to accept pay cuts to have more of them.

Using a large Canadian data set and the help of AI, it was possible to compare employees with similar qualifications and similar benefits but with one difference: one employee received slightly more flexibility to work from home than the other.

They discovered that once employment benefits reached a generous level, employees were willing to accept as much as a 5% reduction in pay to secure these benefits.

One may conclude therefore that benefits outlined in employment contracts really do matter enormously to employees for their well-being.

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