MetLife’s 21st annual U.S. Employee Benefit
Trends Study reveals ‘care’ is a key driver of life and job
satisfaction – and not prioritizing it is causing major issues in
the workplace
The Great Resignation, quiet quitting, and labor hoarding are
among the buzzy workplace trends ignited by one common theme: a
lack (or perceived lack) of care for employees. MetLife’s 21st
annual U.S. Employee Benefit Trends Study (EBTS) reveals feeling
‘cared for’ at work is a key driver of employee holistic health and
happiness, which are strongly connected to employee productivity
and job loyalty. Yet the study found nearly half of today’s
employees (42%) don’t feel cared for by their employers.
When employees don’t feel cared for at work, their wellbeing,
happiness, and overall satisfaction take a hit. They are over
two-thirds less likely to be holistically healthy and happy than
employees who do feel cared for. These employees are also 65% less
likely to feel a sense of belonging at work and 72% less likely to
feel valued by their employers. This, in turn, has a measurable
impact on organizational performance: among employees who don’t
feel cared for at work, only 45% are engaged, 58% are productive,
and 54% are loyal (versus 87%, 90%, and 89%, respectively).
“Our research shows care is not only a differentiated driver of
the employee experience – but also a proven workplace metric to
measure employer outcomes,” said Todd Katz, executive vice
president, Group Benefits at MetLife. “As the economy and labor
market remain volatile and workplace trends fluctuate, employers
can’t afford to overlook employee care. When organizations
genuinely demonstrate employee care, they are much more likely to
weather macro challenges effectively, and rise to the top for
current employees and job seekers alike.”
Care Gaps Leave Certain Employees Feeling Less Valued,
Healthy and Loyal
While employers recognize the importance of employee care, many
are failing to demonstrate it in an effective way – defaulting to a
one-size-fits-all approach, rather than through an inclusive and
compelling employee experience that meets individuals’ needs.
As a result, certain employee cohorts have emerged as feeling
less valued and appreciated than others – leading to clear
disparities across the workforce. For example, while 72% of men and
70% of white-collar workers feel their employer is demonstrating
care on the job, only 60% of women and 58% of blue-collar workers
say the same. Across age groups, Gen Z employees are the least
likely to feel cared for at work (only 53% do, versus 61% of
millennials).
Consequently, these are some of the least healthy employees in
the workforce. In the last year, holistic health has declined 20%
for female employees, while it has remained the same for male
employees. Similarly, only 26% of Gen Z employees feel holistically
healthy, compared to 48% of baby boomers. These cohorts are also
less likely to think their employers are committed to their
success, leading to a greater willingness to consider leaving their
employers this year.
Demonstrating Care at the Individual Level
Amid the fluctuating employment landscape, employers need to
look at each aspect of the employee experience through the lens of
care – including everything from culture, purposeful work, and
flexibility, to benefits, career development and even compensation.
While demonstrating care across all these touchpoints is important,
the research shows each cohort prioritizes certain aspects over
others – and understanding these niche needs will enable employers
to optimize their approach and meet expectations. For example:
- Women say their employers can better show care for them with
safety and comfort in the work environment, and more support from
managers. To address these priorities, employers must recognize the
role supportive managers play in building a strong and healthy
culture, and work to better equip and empower managers to provide
heightened support.
- With most blue-collar workers saying affordability of benefits
would improve their level of perceived care on the job, employers
have an opportunity to reconsider contribution levels to help
alleviate employees’ financial pressures, while also enhancing
their benefit communications procedures to ensure this cohort is
able to truly maximize their yearly elections and meet their
diverse needs.
- To meet Gen Z’s expectation of their employer taking action on
environmental, social, and political issues, employers should use
mission and value statements to better clarify what their
organization stands for, its actions, and community impact.
“While the concept of care is not new, our research makes clear
that when it’s demonstrated genuinely, it has a profound and
measurable impact in the workplace,” said Katz. “To really get this
right, employers not only need to prioritize care, but also offer
solutions that reflect the varying needs of their employees,
ensuring they feel cared for as individuals.”
To download MetLife’s 2023 Employee Benefit Trends Study, visit:
https://www.metlife.com/ebts2023
Research Methodology
MetLife’s 21st Annual U.S. Employee Benefit Trends Study was
conducted in November 2022 and consists of two distinct studies
fielded by Rainmakers CSI – a global strategy, insight, and
planning consultancy. The employer survey includes 2,840 interviews
with benefits decision-makers and influencers at companies with at
least two employees. The employee survey consists of 2,884
interviews with full-time employees, ages 21 and over, at companies
with at least two employees.
About Rainmakers CSI
Rainmakers CSI is a UK-based global strategy, insight, and
planning consultancy with a focus on delivering game-changing
commercial impact. Since our inception in 2007, we’ve worked
collaboratively with leading companies to help define opportunities
for brands, categories, and businesses. Our expertise spans not
only Financial Services, but also Food and Drink, Beauty,
Healthcare, Telecoms, Technology, Entertainment, and Travel. Our
programs and client relationships span all continents, with 50% of
our work originating in the 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 individual and institutional
customers build a more confident future. Founded in 1868, MetLife
has operations in more than 40 markets globally and holds leading
positions in the United States, Japan, Latin America, Asia, Europe
and the Middle East. For more information, visit
www.metlife.com.
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Media: Liz Harish 929-343-7473 elizabeth.harish@metlife.com
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