2018 Employee Benefit Trends Study

Chapter 4
Creating experiences
that matter


Moments of truth are different for every company. Depending on your company's size and culture, moments of truth will come to life in nuanced ways. However, these moments aren't only about creating changes in employee experiences; they are also about changing a mindset. Crafting a more human experience means enriching the culture of the organization and backing it up with real experiences that provide meaning and value.

Understanding that employees' lives aren't always predictable and that they care about causes in the wider world are just two examples of how to tap into more human experiences. Programs and offerings that support flexibility and that empower employees to make an impact are essential to the human workplace.

Reshaping the structure of how employees can utilize these programs along with the types of programs offered, allows employees to feel heard and acknowledged. Two ways that employers can immediately shift to a more human workplace are through flexible benefit packages and financial wellness programs.

Today's employees are nontraditional


Not only in the way they live their lives but in the world that surrounds them. Therefore, offering traditional, rigid benefits doesn't always meet the employees where they are.

While today's workforce deeply cares about the intangibles, employees understand the value of financial wellness and saving for retirement


However, true to form, employees want to do it their own way. While some things remain the same, today's employees' view of retirement doesn't look like it did for the previous generations—and their preferences reflect it.

With both traditional and nontraditional benefits, employees are on a quest to be financially well


Employees see their finances and their benefits as crucial to enriching their work and life. When employers play an active role in employees' financial wellness, that benefits everyone.

Financial wellness benefits are a great way to create a more human connection with employees and to recognize employees both personally and professionally. These benefits build confidence for employees, and that creates positive results both inside and outside the workplace.

Benefits help the employee's mental well-being and the right benefits keep today's employees coming back


Traditional benefits are still valuable to today's employees


Chapter 4
Conclusion


Rethinking employee benefits can serve as a tangible and meaningful step toward a more human workplace. Benefits that offer personal recognition, choice and security combine to honor employees—building trust and stoking loyalty.

Two ways employers can immediately shift to a more human workplace are through flexible benefit packages and financial wellness programs.

Looking for more global insights? Go to:benefittrends.metlife.com

Employees want flexibility, choice and nontraditional options. And they’re willing to pay for it.

Employees want flexibility, choice and nontraditional options. And they’re willing to pay for it.

And both employees and employers agree that non-medical benefits can be a win

Employees recognize the importance of saving for retirement

Saving for retirement is a priority for me
0
The majority of today's employees expect employers to help them save

I am concerned about outliving my retirement savings
0
Employees want more options and they would be interested in converting some or all of their retirement savings into lifetime income

Are interested in an employer providing ways to convert some or all of retirement plan (e.g., 401(k)/403(b)/457) money into a stream of income for life at the point of retirement
0
Employees are increasingly looking to their employers to play a more active role in their financial security

I believe my employer should help me solve my financial security concerns
0

Agree

Employers have a responsibility for the financial well-being of their employees

Many employees are confident in their decision making and don't feel in control of their finances or on track to meet their goals

Employers underestimate just how much employees want to learn about financial wellness

Benefits help the employee's mental well-being

Having insurance/benefits gives me peace of mind for the unexpected
0
The right benefits keep today's employees coming back

The employee benefits offered to me were an important reason why I came to work for this company
0
Trending up
Benefits lead to less worry

The right benefits save money for today’s employees

Non-medical benefits, such as critical illness and accident coverage, helps me to limit my out-of-pocket medical expenses
0
Traditional benefits are still valuable to today's employees

Beyond your retirement plan, which non-medical benefits do you feel reduce your financial stress?

Life insurance
0
Auto insurance
0
Dental insurance
0
Home insurance
0
While many are satisfied with their benefits today, there is still room for—and need for—improvement

I am satisfied with the benefits that I receive through my employer
0

Looking for more global insights? Go to:benefittrends.metlife.com