MetLife 2024 Employee Benefit Trends Study

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Apr 22, 2024, 3 Minute Read

MetLife - Nearly 6 in 10 employees say benefits are important in deciding where to work.

MetLife - Enmployees who are satisfied with the benefits are 1.6x more likely to be productive, 1.5x more likely to be engaged, and 1.5x more like to be loyal.

The latest MetLife study highlights the importance of maintaining a caring and supportive work environment during times of macroeconomic uncertainty, geopolitical conflicts, and election year tensions. Offering a robust benefits package and a welcoming culture can establish a foundation for mutually beneficial employment relationships, providing stability and helping employees prepare for unexpected events and challenging times.

Organizations that prioritize employee care are better positioned to achieve their talent management objectives, even in turbulent times. Investing in such initiatives not only supports financially stressed employees but also enhances productivity and retention, positively impacting the bottom line. The study demonstrates that the benefits of investing in employee well-being extend to both the workforce and the organization, emphasizing that the cost of neglecting employee care could be far greater than the investment in it.

MetLife’s 2024 U.S. Employee Benefit Trends Study, Maximizing Employee Care: Opportunities for Enhancing Care Delivery Across the Employee Experience, not only tracks shifts in employee expectations and workplace dynamics but also offers insights into how a well-structured employee care strategy can significantly enhance both employee well-being and organizational outcomes. By addressing the holistic needs of employees across various life and work scenarios, employers can develop a more engaged, loyal, and productive workforce.

The MetLife Study Will Help You Learn:

How strategic employee care can significantly impact well-being and talent outcomes.
What “always on” care is and how best to implement it.
Strategic approaches for employers to demonstrate care across critical moments in the employee journey.
How employees expect employer support during moments that employers may not be aware of.

Key Findings

93% of employees consider workplace well-being as important as salary.
87% of employees would consider leaving a company that does not focus on their well-being.
Among employees at companies that support their well-being: 85% say they plan to stay in their roles, and 65% report improved productivity due to well-being programs.
63% of employees say that their current benefits package helps reduce stress and 61% say it eases financial burdens. The more benefits employees are enrolled in, the higher their holistic health.
The large gap between the care employers believe they are providing – 88% of employers believe they show adequate care, yet only 60% of employees feel cared for—highlights a critical need for alignment between employer efforts and employee perceptions.
Of the benefits they use, employees expressed the highest satisfaction with executive benefits (92%) and identity fraud and protection (92%). Disability insurance (81%), legal services (80%), and unpaid leave (76%) saw lower rates of employee satisfaction.

To learn more, check out this video:

As a benefits advisor, the data-driven insights and valuable strategies from the MetLife Study can help you play a pivotal role in guiding employer groups to create a workplace environment that truly supports their employees. Contact us today to develop benefits solutions tailored to your clients’ needs.

Download The MetLife Study

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