Data and Research

Employees Want a Full Suite of Benefits

This is prompting employers to ask their benefits brokers for new and innovative solutions.

By Lee Barney editors@plansponsor.com | July 06, 2017
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Sixty-five percent of employers are asking their broker or consultant to recommend new and innovative benefits solutions, MetLife found in its 15th annual employee benefit trends study, “Work Redefined: A New Age of Benefits.” Because employees are changing jobs more often, employers are hoping that enhanced benefits will keep staff in their employ longer.

The survey found that forty-nine percent of employees are anxious about their financial well-being, and 40% would like their employer to provide financial security. Twenty-three percent say they are less productive at work because of financial worries. Fifty-eight percent of employees want customized benefit options, and 43% expect to delay their retirement due to their financial situation.

Sixty percent of employees worry about money. Only 27% are happy with their progress in paying down student debt, and only 32% think they are doing a good enough job of saving for their children’s education.

Forty-nine percent of employees want programs that reward healthy behavior, but only 8% of employers offer such a program. Sixty-two percent of employees want portable benefits. Sixty percent of employees want parental leave to include both partners.

Fifty-nine percent of employees say that if health and wellbeing benefits were offered to them, they would be more loyal to their employer, and another 53% say that of financial planning programs. Seventy-four percent say that of flexible work hours, 72% of customized benefits and 66% of the ability to work from home.

NEXT: The Employer’s Perspective

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