The US job market is “red hot” with its various work perks

The US job market is “red hot” with its various work perks
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Fresh graduates in the United States (US) are entering the best jobseeker market in history, according to ZipRecruiter lead economist Sinem Buber.

Last April, more than 11 million jobs were opened for people who are looking for employment. And despite talks of a recession, the economy does not seem to be slowing down yet.

With the growing number of vacant positions in the US and the rest of the world, many employers are battling it out to attract high-quality talent. And that’s reflected not just in the number of jobs open, but in the benefits, employers are offering to entice potential employees.

Below is a list of fast-growing work perks that are being offered in job ads on Ziprecruiter’s website. The list also includes the number of jobs offered to them per 100,000 listings, and the growth rate between 2019 and 2022.

  • Pay on demand – Job postings offering this perk: 6,893; Growth rate: 157%
  • Signing bonus – Job postings offering this perk: 5,282; Growth rate: 178%
  • Remote work – Job postings offering this perk: 2,322; Growth rate: 315%
  • Pet insurance – Job postings offering this perk: 71; Growth rate: 231%
  • Mental health and wellness benefits – Job postings offering this perk: 14; Growth rate: 53%

Beuber explained that signing bonuses were a generous offer from employers to talents in 2021. However, most have pulled back on this perk and are prioritizing overall compensation and base pay increases, instead.

As for pay on demand, some companies are now offering workers the chance for employees to get their salary whenever they want, instead of waiting for two weeks or a month.

Remote work, meanwhile, is the most common perk that companies offer these days due to the rise of employees who are preferring this arrangement.

Meanwhile, Kristin Kelley, chief marketing officer at CareerBuilder, said that wellness benefits — including gym memberships, yoga classes, and counseling — are on the rise.

And funny as pet insurance may seem, it’s actually “very common that people have pet insurance on their insurance policies” now, says Kelley.

Offering all these benefits is the easiest way to gain applicants for a vacant position. With the number of vacant positions inversely proportional to the job seekers in the US, it is no surprise that companies are doing whatever they can to gain the most capable employees in their respective industries.

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