MetLife’s Ninth Annual Study of Employee Benefits Trends finds that employee loyalty, like employee morale, has reached a low point. Forty-seven percent of employees surveyed say they feel very strong loyalty to their employers, down from 59 percent three years ago. But about half of employers think that employees feel strong loyalties, the same as 2008.
And while many employers saw productivity gains over the past year, 36 percent of employees hope to be working elsewhere in the next year.
The MetLife study was conducted in the fourth quarter of 2010 by GfK Custom Research North America. GfK interviewed 1,508 benefits decision-makers at companies with a staff of at least two. The company also interviewed 1,412 employees aged 21 and over.
The study pinpointed three unchanged business objectives: “controlling health and welfare benefit costs, retaining employees, and increasing employee productivity.” Satisfaction with benefits is tied to satisfaction in the workplace, but many employees — 55 percent of respondents — said they don’t feel the communications surrounding benefits offerings was “clear and comprehensive.”
And while employees are calling for social media comms for benefits information — 42 percent of Gen Yers and 38 percent of Gen Xers — 70 percent of employers say they don’t use it and 37 percent say they don’t have the resources to put it in place.