Employees are increasingly recognising the value of their workplace benefits as financial pressures intensify, according to MetLife’s UK Employee Benefit Trends Study 2017. In fact, more than half (55%) of employees highly value the benefits they receive at work – an increase of 25% on the 2015 findings –as employers focus on the personal financial pressures their staff face.
As many as 52% of employers in the survey said they understand the personal financial pressures on their employees and this in turn is driving the issue of financial wellbeing higher up the corporate agenda.
‘MetLife is urging employers to harness the power of employee benefits to help tackle rising uncertainty among their staff, including a focus on financial wellbeing programmes in the workplace to support employees whose financial concerns have increased considerably over the last two years.’
Jo Elphick, Head of Marketing at MetLife UK, said:
'The increasing value that employees place on their benefits creates a real opportunity for businesses to align their benefits strategy with their business strategy. In times of uncertainty employees are looking beyond salary and a well-designed benefits programme can help employers build stronger businesses and succeed in the growing war for talent.'
The survey was conducted in September 2016. It was an ‘online quantitative study’ among 600 employers – 300 offering employee benefits and 300 not offering employee benefits – as well as 301 employees about their attitudes, options and current practices.