MetLife’s 11 th Annual Study of Employee Benefits Trends, released today, reveals that while only two out of five U.S. workers would strongly recommend their employer as a “great place to work,” those who do are three times more likely to be satisfied with their benefits.
Other notable findings include:
- Three out of five employees who would strongly recommend their employer report benefits are an important reason why they remain with the company.
- More than half (51%) of employees report they are willing to bear more of their benefits costs in order to have a choice of products that meet their needs.
- 58% of employers say providing voluntary benefits is a significant benefits strategy – up significantly in 2012 from 32 percent in 2010.
“Companies that are recognized by employees as great places to work appear to be making the connection between job satisfaction and benefits satisfaction. With many employees saying they would pay more for a wider range of voluntary benefits, employers clearly have an opportunity to increase benefits satisfaction without increasing the bottom line,” said Anthony J. Nugent, executive vice president, MetLife.
As companies grow their voluntary benefits offerings, encouraging and enabling participation in their programs is vital. Less than half (42%) of employers are very satisfied with the current employee participation levels in their voluntary benefits programs. The study explores several strategies for improving employee participation rates, including:
- Improving communications around benefits: While 52% of employers believe their communications are very easy to understand, only 43% of employees agree. More than one-third of employees grade their company’s benefits communications a “C” or below.
- Creating a benefits shopping experience that consumers find familiar: Seventy-five percent of employers who offer online enrollment and are satisfied with employee participation rates report a buying experience that compares favorably with the best online consumer shopping experiences.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV