Work-life balance most important benefits strategy, say employers – Benefits

Work-life balance most important benefits strategy, say employers – Benefits – Brief Article

Employees who are satisfied with their benefits are three times as likely to feel satisfied with their jobs and loyal to employers.

And when they’re satisfied, they stay. MetLife’s Employee Benefits Trend Survey found retention is 4 one of employers’ main objectives for their benefit packages (interestingly, it was tied for first place with cost reduction). Other objectives: to increase productivity and job satisfaction, and the benefits strategy employers felt was most important in meeting these objectives was work-life balance. The survey was given to employees as well as employers, and the employee results were a little contradictory. Two-thirds were concerned about their family’s financial security if they died prematurely, but only 10% had evaluated their life insurance needs. And while 75% of employees claimed to be concerned about their financial security in the event of a disability, only 48% felt their disability coverage was inadequate or were unsure if they had enough. And there seemed to be a communication disconnect. Although most employers covered maternity leave under group disability plans, 72% of full-time female employee s, ages 21-39, either did not think or were not sure that maternity leave was covered.

# 17419 MANAGING BENEFITS PLANS, 2.03

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