COMP NEWS – Metlife has released its 20th annual comprehensive study on U.S. employee benefits trends. One of the most pronounced trends from the last two decades of data is a dramatic decline in employee loyalty – and a shifting power dynamic between workers and their employers as a result.
The Power Dynamics Between Employees and Employers Have Shifted
Over the past 20 years — and even more so in the past two years — loyalty has declined. The disruptions of the last few years have caused many individuals to explore more meaningful work, start their own businesses, and prioritize personal and family commitments over careers. As a result, employers must figure out how to address low job satisfaction rates and meet expectations of workers from various generations, races, gender identities, and industries.
The study identified five areas that dramatically influenced worker productivity and loyalty. Workers who felt their employers contributed to these areas of holistic health were several times more likely to stay at their jobs.
Employees who are satisfied with their employers’ measures in five key areas are…
- Purposeful work: 2x more likely to stay
- Flexibility & work-life balance: 1.8x more likely to stay
- Social & supportive cultures: 1.5x more likely to stay
- Career development/training: 1.7x more likely to stay
- Wellness programs & benefits: 1.6x more likely to stay
According to the study, employees focus more on their holistic well-being than in the past, and they now expect their employers to value that focus.
Well-Being Drives the Bigger Picture. Here’s How.
With the decline in mental health, employees are looking to their employers to help support their mental and social well-being through benefits and policies.
Holistically healthy employees are
74% More likely to be satisfied with their job
51% More likely to say they intend to be at their organization in 12 months’ time
53% More likely to be productivee
Employee holistic health is increasing, but fewer than half of employees say they are holistically healthy — and the insight is in the nuances.
To read Metlife’s 20th Annual U.S. Employee Benefits Trends Study, click here.
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