MetLife’s 22nd Annual U.S. Employee Benefit Trends Study reveals that 92% of employees desire more consistent care from their employers, and 79% seek greater support in their personal lives. The research indicates that employees feeling supported by their workplace are 60% more likely to remain with their current employer for another year and 55% more likely to be productive. However, many employees reported feeling unsupported during times of financial unpredictability, mental health issues, or when they become the main earners in their families.
The study, gathering data from over 2,500 benefits decision-makers and 2,800 full-time employees, highlights the pressing need for employers to address contemporary challenges affecting their staff. Todd Katz, executive vice president at MetLife, emphasizes the critical need for employers to enhance support for their employees to create more successful work environments.
Employers are increasingly recognizing the role of comprehensive benefits in meeting employee needs, aiding in retention, and attracting new talent. Research by the Employee Benefits Research Institute in 2022 found that many employees believe their employers share responsibility for their well-being, encompassing mental, emotional, physical, and financial health.
The Business Group on Health’s survey last year reflected a significant concern for mental health support in the workplace, with 80% of large employers prioritizing access to mental health services. Moreover, 77% of these employers noted a rise in workplace mental health issues.
Employers’ proactive responses to societal and political events also play a role in attracting potential job candidates. For instance, companies that adapted their benefits or publicly supported reproductive healthcare following the Dobbs v. Jackson Supreme Court decision witnessed an 8% increase in job posting engagement, according to a study by Indeed and Glassdoor. This trend underscores the impact of employer policies and support on employee retention and attraction in the current job market.
