MetLife Employee Benefit Trends
Unlock the Voluntary Value Forumla: End One-Size-Fits-All Benefits, and Do It Cost-Effectively
Unclock the Voluntary Value Forumla
Today’s workforce is made up of a variety of generations — Boomers, Gen X and Millennials. And each generation of employees is faced with different challenges. So how can offering employees benefits at work possibly meet this wide and disparate range of needs? This MetLife Study demonstrates how the Voluntary Value Formula can help employers.
The Voluntary Value Formula ends one-size-fits-all benefits. And does it cost-effectively. By following the Voluntary Value Formula, employers can offer employees:
- A wider array of voluntary, cost-sharing benefits — such as life, disability, supplemental health, vision, auto and home insurance — so employees can discover benefits that “work for me”
- Options that have specific meaning for each generation
- Multiple enrollment channels, flexible communications and outstanding customer service to improve the ongoing benefit experience
Giving employees the option to pick and choose more benefits that match their individual needs, lifestyles and age segments can make them feel valued. And this can lead to greater employee satisfaction and loyalty.
| Need for coverage | + | Features that fit | + | Price perception | = | Voluntary Value |