Retirement savings still the top employee benefit, extra vacation days are catching up

Retirement savings remain the most popular choice for Belgian employees when customising their wage packages, but extra vacation days are gaining significant traction. According to a recent analysis by HR services provider Acerta, employees are increasingly prioritising a better work-life balance.

“Cafeteria plans” allow employees to personalise part of their wage package by choosing from a range of benefits, such as additional vacation, supplementary pension plans, training, or a company car. Among the 11,000 Belgian employees surveyed who participate in those cafeteria plans, 29% opted for retirement savings, maintaining its position as the most chosen benefit. However, extra vacation days are catching up quickly, with nearly one in five employees (19.4%) choosing to buy additional time off - almost double the percentage from last year.

Stock warrants, which allow workers to purchase company shares, remain a popular option (11.5%), especially among older employees, while technology perks like laptops and smartphones make up 23.53% of choices.

The trend of choosing company cars continues to decline, with only 2.75% of employees opting for this benefit, down from 3,53 % last year. Bicycles, in turn, have maintained steady popularity at over 5%, reflecting a move towards more sustainable commuting options. Acerta notes that while electric vehicles are gaining attention, this has not translated into a significant increase in car-related spending within flexible wage packages.

^{People enjoy the nice weather on the beach in Knokke © BELGA PHOTO NICOLAS MAETERLINCK}