ore than eight out of 10 Portuguese people (86.7%) say that having health insurance as part of their compensation package is important, according to the results of “The state of compensation 2023-24 - a study on the future of work and the work of the future”, organised by Coverflex. The study, in which 2,247 people took part, evaluates three dimensions related to current work in Portugal: flexibility, diversity and inclusion, and compensation.
The importance of including insurance in the employee compensation offer
According to the participants in the study, 82.4% of Portuguese people have access to health insurance offered by their company, reinforcing our conviction that health insurance is one of the fundamental pillars when it comes to building a 360º compensation offer.
Among the factors most valued by respondents when it comes to health insurance are, in order of importance, the network of providers (77.4%), the possibility of including family members (51.9%), and the absence of health insurance excess (48.9%).
When it comes to life insurance, more than half of the participants in the study want to have access to life insurance offered or reimbursed by their company; however, only 18% currently have it.
"Flexibility" is still the buzzword
In the post-pandemic era, the labour market has never been more diverse, and never before have people managers had to take such a detailed and personalised look at the individuality of the talent they want to attract, recruit and retain.
But even though people are more than ever at the centre of decisions, we still see room for improvement: only 35% of the surveyed participants expressed satisfaction with their compensation package. Of all the respondents who have flexible compensation, 41.7% were satisfied with their compensation, compared to just 23% of those who don't have flexible compensation.
There seems to be a very clear relationship between the flexibility of the working model and access to flexible compensation: 66.5% of people who work in a hybrid format and 60% of those who work remotely have flexible benefits, compared to 46.4% of those who work face-to-face.
The gender gap is not yet a thing of the past
The gender gap still exists in a labour market where more and more companies are announcing diversity and inclusion practices. Males account for more than 75% of all employees in the companies of 17% of respondents, and more than 75% of leaders are male in the companies of 40% of respondents.
The way we look at work reveals some of the most profound manifestations of the change we witness every day. The full study can be downloaded here.