Here are the most important benefits to workers this year according to recent surveys
While choice may vary slightly based on industry, region, generation, and gender identity, we didn’t find a huge change from our 2021 survey review.
*Health Insurance includes major medical and access to telehealth services.
**Financial Wellness includes Critical Care, Accident and Cancer coverage.
Our survey review shows that employees continue to make choices based on challenging economic times most people are facing right now. While financial wellness benefits were gaining in popularity during the pandemic, overall they have risen from 18% in 2019 to 51% currently.
As much as 40% of employees are believed to leave jobs for better benefits
Other benefits and perks most popular among employees:
- Two other benefits that rank almost as high as health insurance are paid time off (77%) (being most important to those who are middle-aged or near there, and retirement benefits (75%).
- Younger employers (18-40) would prefer to have pet insurance as part of the benefit offering.
As an employer, it’s important to understand that employee benefits play a major role in attracting and retaining top talent and that couldn’t be more true post pandemic. Providing employees with a comprehensive benefits package not only ensures their physical, financial and mental wellbeing, but also demonstrates that you value their contributions and are invested in their long-term success within the company.
From health insurance and retirement plans to paid time off and professional development opportunities, offering a range of benefits can help boost employee morale, increase job satisfaction, and ultimately improve overall productivity and performance.
By prioritizing the needs and interests of your employees, as MetLife refers to as “Delivering Care Across the Employee Experience,” you’re not only creating a positive work environment, but also investing in the long-term success of your business. So, don’t underestimate the importance of employee benefits – it’s a win-win for both employers and employees.
Source:
Forbes Advisor, Best Employee Benefits In 2023
MetLife, MetLife’s 21st Annual U.S. Employee Benefit Trends Study 2023