Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

EMPLOYEES VALUE BENEFITS AS FINANCIAL PRESSURES RISE

EMPLOYEES VALUE BENEFITS AS FINANCIAL PRESSURES RISE
  • More than half of employees recognise the value of workplace benefits
  • Worries about recruitment increase for nearly half of firms
  • MetLife Employee Benefit Trends Study 2017 highlights the success of health and wellbeing programmes                                                                                                                                                                               

Employees are increasingly recognising the value of their workplace benefits as financial pressures increase, new research from MetLife’s UK Employee Benefit Trends Study 20171 shows.

Their study, which is now in its third edition, shows 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.

More than half of employers (52%) 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.

Findings from this year’s study show that talent attraction remains a key business priority: 73% of employers are using benefits to attract new talent  compared with 61% in 2015, with nearly half of the firms (46%) saying that they expect a talent shortage in the next 12 months.

MetLife’s study credits employers with making great strides in putting programmes in place to address the physical wellbeing of their employees. 38% of employers are now very satisfied with the impact of wellbeing programmes compared with 21% in 2015. Around 87% that have taken part in such programmes say they have had a positive impact on their health.

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.”

“Nearly three in four employers are using benefits to attract and retain staff as they worry about the potential risk to their business from a shortage of talent over the next 12 months.”

“Efforts to tackle physical wellbeing through benefits are bearing fruit for employers but uncertainty over personal finances is emerging as a key challenge. A key goal for employers is to help their staff feel energised and focused at work and addressing employees’ financial concerns through benefits can help.”

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.

The study found around two out of five employees (39%) believe they are paid fairly for the job they do compared with 25% in the 2015 study.

Key insights from the full Employee Benefits Trends Study 2017 can be downloaded from HERE.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post