Retention is key priority for employers when providing employee benefits

MetLife’s 15th Annual U.S. Employee Benefit Trends Study, most employers (83%) chose retaining employees as their top objective when providing benefits. And the importance of benefits works both ways. 66% of Millennials said benefits customization was important for increasing their loyalty to their employers, compared to 67% of Baby Boomers. “Employees have very distinct wants and needs and expect their employers to meet them,” said Todd Katz, executive vice president for group benefits at MetLife, a provider of life insurance and other employee benefits. “To attract and retain top talent in this new era, especially during a time of decreasing unemployment rates, employers have an opportunity to adapt their workplaces to address the unique needs of their employees.” MetLife offers five ways employers can meet employees where they are from a benefits perspective:

  1. When employers offer a breadth of benefit options, they can help alleviate the anxiety that comes with the integration of work-life and home-life.
  2. When employers deliver tailored solutions, they help an increasingly diverse workforce find the security it’s looking for.
  3. When employees have access to the right expertise, it ensures they can get the help they need to meet today’s challenges.
  4. By providing clearer information about the benefits available, employers can empower employees to choose the ones that fit their needs.
  5. Lastly, when enrollment is simplified, employees are able to discover the immense value of their benefits. As a result, their appreciation can enhance their loyalty and commitment to their company.
The survey was conducted from October 2016 through November 2016 and comprised 2,504 interviews with benefits decision-makers at U.S. companies of all sizes and 2,652 interviews with full-time employees. View the full report here.]]>

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