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A company’s best assets are in the eye of the beholder. A USA Today.com survey of 1,000 professionals showed communication and employee recognition are most important, according to human resource managers. However, the overwhelming response from employees ranked benefits second most important, behind job security.

Indeed, benefits are increasingly taking center stage in job searches and negotiations. While there’s certainly something to be said for salary, benefits like comprehensive health insurance, 401(k) match, and even the option to telecommute are ever more valuable in this turbulent economic age with its skyrocketing healthcare and gas costs.

“The single biggest change has been driven by the increasing healthcare costs,” said Len Strazewski, employee benefits columnist with Human Resource Executive magazine. “When I first started, health insurance was taken for granted, it was a pretty standard format, you had a minor deductible or maybe no deductible, and the employee was very hands-off. Flash forward to today; employers are very hands-on in managing the costs and managing their workforce, in terms of controlling those costs.”

The goal of controlling costs has given rise to company gym membership discounts, on-site fitness centers, and office weight loss challenges. Unfortunately, it has also resulted in decreased medical coverage.

“Many companies, in order to cap their liability, are on the verge of simply giving employees a lump sum to go find their own health insurance,” said Peter Capelli, director of the University of Pennsylvania’s Wharton Center for Human Resources.

Capelli added that one increasingly popular cost-cutting strategy – higher office visit co-pays – can really backfire.

“It seems quite short-sighted, as the office visit prevents much more expensive problems later on,” he said. “The real costs in health care center on complications and diseases that can be prevented or managed with cheaper, up-front care.”

Strazewski voiced similar concerns about health savings accounts. More commonly referred to as an HSA, this option has recently become the darling of the health insurance world for its tax-free status and ability to put the consumer in the driver’s seat.

“Those can be real attractive, but I have real questions about those programs because you provide a disincentive to seek regular preventive healthcare and a disincentive to seek timely healthcare, because you don’t want to tap those funds,” Strazewski said.

One upside is that the funds can rollover to help pay post-retirement health insurance premiums, which are often astronomical.

“I think many retirees underestimate the cost of healthcare,” Strazewski said. “Retirees who are even covered under supplemental insurance can expect to pay $200,000 to $250,000 for healthcare costs in the course of their retirement. That’s deductibles, uncovered expenses, transportation costs to and from medical facilities, and so on.”

Higher post-retirement costs are another reason a 401(k) company match should be so highly valued. With the company matching employee contributions dollar for dollar, typically up to a certain percentage, it allows workers to save more than ever before.

Strazewski also gave a nod to the traditional government-insured pension plans as a very secure retirement investment, though many companies have fazed them out in favor of the 401(k). Employee retirement savings plans should provide plenty of investment options – not try to pigeonhole employees into buying company stock, a high-risk move that could prove disastrous. The earlier a young employee learns to be savvy on their retirement options, the better they will fare in their golden years.

“This generation is more sophisticated, overall, so they are hungrier for education in the areas of benefits and how to maximize them,” Strazewski said. “But every young generation has a feeling of invincibility, and that just comes with the optimism. I think young people still have a sense that the future is still very far away. I still think they need to be motivated more toward saving for retirement and changes in their lives and lifestyle.”

If employees are wishing in hindsight that they had researched their company’s benefits a little better, they may be able to negotiate a better deal. If they have the solid job performance to back it up, they may be able to request more vacation time or part-time telecommuting to cut driving costs. Benefits are, however, only negotiable to a point. There is usually very little wiggle room when it comes to company policy regarding health and retirement benefits. If these are unsatisfactory, it may be time to consider moving to greener pastures with a better view and a rosier outlook.

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