One in Three U.S. Employees Would Rather Talk About Their Weight Than Their Employer-Offered Benefits
September 17 2019 - 8:00AM
Business Wire
Workers feel overwhelmed by open enrollment
process
One-third of American workers would rather talk
about their weight than their employee benefits, and nearly half
dread the benefits enrollment process as much as asking for a
raise, according to a new survey released today. In fact, U.S.
workers say they dread the open enrollment process only marginally
less than renewing their driver’s license or passport.
According to the survey sponsored by MetLife, one in five
workers spend only a few minutes reviewing benefits offered by
their employer before making a decision. The survey also revealed
women are more likely to bring up their mental health with friends
(26 percent) than discuss their finances (18 percent) or their
employee benefits (20 percent).
In today’s war for top talent, employers are increasingly
offering benefits that better serve their employees’ needs and help
differentiate them from their competitors; yet, a knowledge gap
remains. Employees are still struggling to understand which benefit
options their employers offer, often overlooking helpful coverage
such as legal plans and employee auto and home insurance discounts,
and what traditional benefits cover, such as life insurance,
disability insurance, critical illness insurance and accident
insurance. MetLife’s survey found nearly a third of respondents
chose “I don’t know” when asked whether disability insurance could
be used if you have a mental or emotional illness and are unable to
work, while 1 in 5 of survey respondents chose only “funeral
expenses” as a reason to buy life insurance.
“Employees have the unique opportunity to leverage a growing
number of benefits from their employers—benefits that are
specifically tailored to their needs and the needs of their
families,” said Meredith Ryan-Reid, senior vice president, Group
Benefits at MetLife. “But first, they need to be armed with a
better understanding of how these employer-offered benefits can
play a central role in protecting them against the unexpected and
helping them achieve their short- and long-term financial
goals.”
MetLife research revealed that learning from others’ experiences
can help employees better understand how their choices connect to
their overall financial wellbeing, which is critical to feeling
confident and informed going into open enrollment. While these
conversations with friends, family and colleagues are important to
have year-round, taking action on benefits only happens once a year
for most U.S. workers.
To better understand the impact benefit choices have had on
others, employees across the U.S. can visit
www.metlife.com/openenrollment for helpful resources, including
videos, articles and the Make Your Match tool, which offers
tailored benefit suggestions. By reading about and watching others
discuss their life situations and the role benefits played,
employees will gain knowledge that will help them make informed
benefits decisions this open enrollment and that can make the
difference between achieving and suspending short- and long-term
goals.
Research Methodology
This report presents the findings of a CARAVAN survey conducted
by Engine among a sample of 1,004 adults comprising 502 men and 502
women 18 years of age and older. The online omnibus study is
conducted twice a week among a demographically representative U.S.
sample of 1,000 adults 18 years of age and older. This survey was
live on July 18-21, 2019. Respondents for this survey were selected
from among those who have volunteered to participate in online
surveys and polls. The data have been weighted to reflect the
demographic composition of the 18+ population.
About Engine
Engine is a new kind of data-driven marketing solutions company.
Powered by data, driven by results and guided by people, we help
our clients make connections that count—leading to bottom line
growth, an inspired workplace and business transformation. With
global headquarters in New York and 17 offices across North
America, the UK, Europe and Asia-Pacific, Engine offers clients a
vast range of marketing solutions—including insights, content,
distribution, data and technology. Find out more at enginegroup.com
or follow us @Engine_US.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates (MetLife), is one of the world’s leading financial
services companies, providing insurance, annuities, employee
benefits and asset management to help its individual and
institutional customers navigate their changing world. Founded in
1868, MetLife has operations in more than 40 countries and holds
leading market positions in the United States, Japan, Latin
America, Asia, Europe and the Middle East. For more information,
visit www.metlife.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190917005153/en/
Natalie Geisler natalie.geisler@metlife.com (212) 578-2643
MetLife (NYSE:MET)
Historical Stock Chart
From Mar 2024 to Apr 2024
MetLife (NYSE:MET)
Historical Stock Chart
From Apr 2023 to Apr 2024