Sony Pixel Power calrec Sony

DEMOGRAPHIC SHIFTS, EMPLOYEE EXPECTATIONS ARE REDEFINING THE WORKPLACE, METLIFE'S 15TH ANNUAL EMPLOYEE BENEFIT TRENDS STUDY FINDS

15/06/2017

Retention is the top benefits objective as the gig economy reshapes the future of work NEW YORK, April 3, 2017 - MetLife's 15th Annual U.S. Employee Benefit Trends Study, released today, confirms that the gig economy and demographic shifts are disrupting the workplace, redefining employees' workplace expectations. MetLife's study found that the gig economy is posing a real threat to employers, with over half (51 percent) of employees saying they are interested in contract or freelance work for more flexible hours, the ability to work from home and project variety, as opposed to a full-time salaried job which may not offer such perks. Freelance work appeals to Millennials most, with nearly two-thirds (64 percent) of the generation interested, followed by Gen X (52 percent) and Boomers (41 percent). Employers agree that the gig economy is affecting the workplace: nearly two-thirds (59 percent) say the increase of temporary jobs will impact the workplace in the next 3-5 years.

This may be why retention is the top priority among employers. When asked to rank their top benefits priorities, more employers (83 percent) chose retaining employees as an important benefits objective than increasing employee productivity (80 percent) and controlling health and welfare benefit costs (79 percent). More so, over half of employers (51 percent) say that retaining employees through benefits will become even more important in the next 3-5 years.

Not only is the gig economy disrupting the traditional workplace, but the workforce itself is transforming. There are four generations working side by side. Employees' definitions of family are changing, and certain demographics, like single women, are on the rise. Employees have very distinct wants and needs and expect their employers to meet them, said Todd Katz, executive vice president, Group Benefits, at MetLife. To attract and retain top talent in this new era, especially during a time of decreasing unemployment rates, employers have an opportunity to adapt their workplaces to address the unique needs of their employees. This is especially critical when it comes to benefits.

Benefits Customization Drives Retention

To meet the varying needs of the workforce today, providing employees with the ability to customize their benefits is key. Nearly three-fourths (74 percent) of employees say that having benefits customized to meet their needs is important when considering taking a new job and 72 percent say that having the ability to customize their benefits would increase their loyalty to their current employer.

Employees say that benefits customization is even more important than the ability to work from home or remotely. In fact, over three-fourths (76 percent) of Millennials say benefits customization is important for increasing their loyalty to their employers, compared to two-thirds (67 percent) of Boomers.

Today, our lives reflect our preferences. We choose how our coffee is made, create personalized playlists and decide which apps we have on our phones. In all aspects of our lives, we can make choices to meet our unique needs. The same should apply when it comes to benefits, said Katz. This is particularly important for driving engagement and loyalty among Millennials, who comprise the largest generation in the workplace today. Customization for them is inherent, and they want to know that their employers understand and are willing to address their specific needs.

Employees Look to the Workplace to Meet their Holistic Wellness Needs

Not only is benefits customization important for employee satisfaction and retention, but so is helping employees with their holistic wellness needs. In fact, nearly two-thirds (59 percent) of employees say that health and wellness benefits are important for increasing loyalty to their employer and 53 percent say the same about financial planning programs.

However, employers are not addressing this need. Only a third of employers (33 percent) say they are very likely to offer wellness benefits and just 18 percent currently offer financial planning programs. At the same time, only about a third (36 percent) of employers say wellness benefits and financial planning programs are valuable to their employees.

In the past, there was a clear delineation between work and life. That line is now blurred with work and life overlapping more than ever before. As this happens, employees are looking to their employers to help them with their overall wellness needs, whether it's through gym memberships to stay healthy or financial education programs to plan for their futures, said Katz. As employees have more non-traditional workplace options available to them, it will become increasingly important that employers prioritize holistic wellness to drive employee engagement and loyalty in this new era.

Research Methodology

MetLife's 15th Annual U.S. Employee Benefit Trends Study was conducted from October 2016 through November 2016, and consisted of two distinct studies fielded by ORC International, a leading business intelligence firm. The employer survey comprised 2,504 interviews with benefits decision makers at companies with at least two employees. The employee survey comprised 2,652 interviews with full-time employees, ages 21 and over, at companies with at least two employees.

About ORC International

ORC International is a leader in the art of business intelligence. Its teams are passionate about discovering what engages people around the world. By combining quality data, smart synthesis and best-in-class digital platforms, ORC delivers insight that powers the growth and drives the future of its clients' businesses. To learn more about ORC International, visit www.orcinternational.com.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one o
LINK: https://www.metlife.com/about/press-room/us-press-releases/2016/index....
See more stories from metlife

Most recent headlines

19/03/2025

Validation Booster: Funding and Mentorship for European Media Innovators

Applications are open for the second cycle of the Validation Booster programme, offering European media outlets, networks, and content creators the opportunity ...

19/03/2025

AUM: The Cult at the End of the World Examines How Evil Can Hide in Plain Sight

PARK CITY, UTAH - JANUARY 20: (L-R) Shoko Egawa, Chiaki Yanagimoto, Ben Braun, and Andrew Marshall attend the 2023 Sundance Film Festival AUM: The Cult at the ...

19/03/2025

NITV and Cricket Australia elevate First Nations sport with National Indigenous Cricket Championships Finals live broadcast on 7 April

NITV and Cricket Australia elevate First Nations sport with National Indigenous ...

19/03/2025

Yumi Stynes wants older women to be SEEN' as SBS podcast returns

Yumi Stynes wants older women to be SEEN' as SBS podcast returns 19 March, 2025 Media releases Feminist icon Yumi Stynes shines a spotlight on trailbl...

19/03/2025

US Space Force Selects L3Harris to Continue Modernization of Space Domain Awareness Program ATLAS

As a trusted partner to the U.S. Space Force, L3Harris has served the space supe...

19/03/2025

Calrec's Argo Q helps NEP Denali go for gold

Calrec's Argo Q helps NEP Denali go for Gold with complete audio overhaul NEP Denali has doubled its surface real estate with the installation of a 144-fad...

19/03/2025

Nielsen Launches its 2025 Global Media Planning Report

Report highlights three key trends in a shifting media landscapeNew York, NY - March 19, 2025 - Nielsen, a global leader in audience measurement, data, and anal...

19/03/2025

Gray Stations Add 'Local News Live' to Daily Programming Lineup

ATLANTA Gray Media has announced that the 'Local News Live' afternoon newscast has been added to the programming lineup on 37 of Gray Media's local ...

19/03/2025

DirecTV for Business Adds Tubi to the Advanced Entertainment Platform

DirecTV for Business has integrated the Tubi app into its Advanced Entertainment Platform for hotels and institutions. DirecTV launched the platform in June 202...

19/03/2025

Frequency to Launch Graphics+ at 2025 NAB Show

LOS ANGELES Frequency has announced that it will be launching a fully integrated graphics platform as part of Frequency Studio at the 2025 NAB Show....

19/03/2025

NAB 2025: CueScript Maximizes Teleprompter Experience with New Tools Ranging from Setup to Delivery

NAB 2025: CueScript Maximizes Teleprompter Experience with New Tools Ranging fro...

19/03/2025

Church of the Nativity Christmas Eve Service Uses Blackmagic Design

Church of the Nativity Christmas Eve Service Uses Blackmagic Design Brie Clayton March 19, 2025 0 Comments Annual event uses Blackmagic Design cameras...

19/03/2025

SMPTE Unveils 2025 NAB Show Educational Presentations

SMPTE Unveils 2025 NAB Show Educational Presentations Brie Clayton March 19, 2025 0 Comments SMPTE , the home of media professionals, technologists, a...

19/03/2025

Music Marketing: 5 Proven Strategies to Engage and Grow Your Fanbase

Music Marketing: 5 Proven Strategies to Engage and Grow Your Fanbase Find out how you can get your work in front of more people with these music marketing str...

19/03/2025

SMPTE Unveils 2025 NAB Show Educational Presentations

WHITE PLAINS, N.Y. SMPTE, the home of media professionals, technologists, and engineers, today unveiled the educational presentations that will be shown at this...

19/03/2025

Approval for new West London studios at landmark venue

Six new sound stages will be built at The Gillette Factory in Hounslow By Matthew Corrigan Published: March 19, 2025 Six new sound stages will be built at...

19/03/2025

Mediagenix Integrates Spideo Recommendation and Curation...

Mediagenix, a global leader in smart content solutions to profitably connect the right content to the right audience, today announced the integration of Spideo&...

19/03/2025

Net Insight partners with NETINT to elevate Nimbra Edge...

Net Insight is taking a major step forward in enhancing its internet media transport solutions by partnering with NETINT Technologies to integrate their cutting...

19/03/2025

Bitmovin unveils new enhancements for Multiview to suppor...

Bitmovin, a leading provider of video streaming solutions, has announced its Multiview has been optimized to support low-latency streaming and advertisements. B...

19/03/2025

ELEMENTS brings advancements to groundbreaking technology...

ELEMENTS will be presenting an extensive line-up of technological advancements as part of this year's NAB Show, including BLINK with fast, flexible and secu...

19/03/2025

SES Update on Annual General Meeting Agenda

Annual General Meeting is scheduled for 3 April 2025 Board of Director Nominees Ellen Lord and John Shaw to provide critical expertise and U.S. perspective ...

19/03/2025

Streaming's TV Viewing Share Hits Record 43.5% in Feb.

NEW YORK Despite the boost provided by massive viewing of the Super Bowl on Feb. 9, a new report from Nielsen's The Gauge shows that streaming increased its...

19/03/2025

Cine Gear Expo to be Held at Universal Studios Lot

LOS ANGELES Cine Gear Expo has announced that the filmmaking exposition has chosen the world-renowned Universal Studios Lot for the location of Cine Gear Expo L...

19/03/2025

Tax Incentives Won't Solve Hollywood's Problems

Tax Incentives Won't Solve Hollywood's Problems Andy Marken March 18, 2025 0 Comments Taking the wrong boy was a lucky break. In other words,...

19/03/2025

Watch Berklee Valencia Alum Wow the American Idol Judges with an Otis Redding Song

Watch Berklee Valencia Alum Wow the American Idol Judges with an Otis Redding So...

19/03/2025

VEON's Kyivstar Expands Digital Portfolio with Acquisition of Uklon, Ukraine's Top Ride-Hailing Business

19 Mar 2025 VEON's Kyivstar Expands Digital Portfolio with Acquisition of U...

19/03/2025

SFG GFX Forum: All Sessions Now Available to Watch on SVG PLAY

SFG GFX Forum: All Sessions Now Available to Watch on SVG PLAY The Feb. 20 event delved into the latest developments in sports graphics tech and creative strate...

19/03/2025

THERES SOME FING IN THE AIR: Taika Waititi leads star-studded cast as shoot begins on new Sky Original family adventure film, FING

Images available HERE. Academy Award winner, Taika Waititi (Jojo Rabbit, Thor ...

19/03/2025

Spry Fox's Spirit Crossing' Comes to Netflix Later This Year

Back to All News Spry Fox's Spirit Crossing' Comes to Netflix Later This Year Entertainment 19 March 2025 Global Link copied to clipboard Prepare...

19/03/2025

Netflix Reveals Release Date for 'The Reserve'

Back to All News Netflix Reveals Release Date for The ReservePlay Video Play Video Entertainment 19 March 2025 GlobalDenmarkNorwaySwedenFinland Link copie...

19/03/2025

Made in California: Celebrating the New Comedy Series The Residence'

Back to All News Made in California: Celebrating the New Comedy Series The Residence' From left to right: Eliza Coupe, showrunner Paul William Davies, Al...

19/03/2025

Finastra unveils enhanced Lending Cloud Service supported by IBM

London, UK March 19, 2025 Finastra, a global provider of financial services software applications, and IBM (NYSE: IBM) today unveiled their collaboration on...

19/03/2025

Hitachi launches new brand design to advance era of sustainable global growth

Tokyo, March 19, 2025 Hitachi, Ltd. (TSE:6501, Hitachi ), today unveiled a bold new brand design that reflects the company's transformation to what it call...

19/03/2025

Harmonic Expands XOS Advanced Media Processor to Elevate Video Delivery

SAN JOSE, Calif. - March 19, 2025 - Harmonic (NASDAQ: HLIT) today announced significant new enhancements to the company's XOS Advanced Media Processor to el...

19/03/2025

Three Industry Veterans Join Blancco's Executive Leadership Team

Home News & Press Press Release Three Industry Veterans Join Blancco's Executive Leadership Team Three Industry Veterans Join Blancco's Executive...

19/03/2025

NVIDIA Blackwell Powers Real-Time AI for Entertainment Workflows

AI has been shaping the media and entertainment industry for decades, from early recommendation engines to AI-driven editing and visual effects automation. Real...

19/03/2025

NVIDIA Honors Americas Partners Advancing Agentic and Physical AI

NVIDIA this week recognized 14 partners leading the way across the Americas for their work advancing agentic and physical AI across industries. The 2025 Americ...

19/03/2025

World's Smallest Slow-motion Camera at NAB2025

World's Smallest Slow-motion Camera at NAB2025 posted: 19/03/2025 Proton to Launch World's Smallest Slow-motion Camera at NAB2025 Proton Camera I...

19/03/2025

Thales to provide high-performance sonar suite for future Orka-class submarines in the Netherlands

Facebook Twitter LinkedIn Under an agreement signed by Thales and Naval Gr...

19/03/2025

Psst... Follow us on Instagram and get 10% off in our web-shop!

We're thrilled to invite you to follow us on Instagram, where we'll be posting exclusive content, behind-the-scenes peeks, special promotions, and so mu...

18/03/2025

Seamlessly Bridge SDI and IP with On-Ramp from Utah Scientific

Seamlessly Bridge SDI and IP with On-Ramp from Utah Scientific Transitioning to IP doesn't have to be a daunting, expensive overhaul. Utah Scientific is pro...

18/03/2025

Celebrate Women's History Month With These Empowering Audiobooks

Looking for inspiration this Women's History Month? Discover the stories of trailblazing women with audiobooks on Spotify. Our Women's History Month aud...

18/03/2025

Podcasts Take Center Stage at SXSW as Top Creators Discuss Video's Impact

From morning commutes to late-night listening sessions, Spotify is the essential daily companion for millions of listeners globally. Podcasts, in particular, ha...

18/03/2025

The Gauge: Mexico February 2025

During February, audiences in Mexico slightly increased their streaming usage by 0.6 points compared to the previous month, accounting for 22.3% of TV viewing. ...

18/03/2025

The Gauge: Poland | February 2025

February is the time of winter holidays, during which Poles often organize trips, which was reflected in less time spent in front of TV screens: on average 5 mi...

18/03/2025

The Gauge: FOX's Successful Cross-Platform Super Bowl Strategy Drives A Huge Day in Television Viewing

Sunday, Feb. 9 becomes the second most-watched day of TV in Gauge history with o...

18/03/2025

Broadcasters Foundation of America Elects New Board Members

NEW YORK The Broadcasters Foundation of America (BFOA) has elected Kristin Cantrell, Owner/CEO, Seven Mountains Media and CapCity Communications, Kate Riley, Pr...

18/03/2025

Peacock Launches Live Streams of NBC Sports Regional Networks

NEW YORK NBCU's streaming service Peacock continues to ramp up its sports offering with the launch of in-market streaming of four NBC Sports Regional Networ...

18/03/2025

FCC Commissioner Starks to Resign 'This Spring'

WASHINGTON Federal Communications Commission commissioner Geoffrey Starks has issued a statement saying he plans to resign from the regulatory agency this spri...

18/03/2025

Miri Technologies to Make NAB Show Debut with X510 Dual-Cellular Bonding Router

Miri Technologies to Make NAB Show Debut with X510 Dual-Cellular Bonding Router Brie Clayton March 18, 2025 0 Comments Innovative, purpose-built hardw...