MetLife Study Finds Employees Who Are Satisfied with Benefits More Likely to Recommend Employer as a “Great Place to Work”

  MetLife Study Finds Employees Who Are Satisfied with Benefits More Likely to
  Recommend Employer as a “Great Place to Work”

    Only 42 Percent of U.S. Workers Give Their Employer Strong Endorsement

Business Wire

NEW YORK -- March 18, 2013

MetLife’s 11^th Annual Study of Employee Benefits Trends, released today,
reveals that while only two out of five U.S. workers would strongly recommend
their employer as a “great place to work,” those who do are three times more
likely to be satisfied with their benefits.

Other notable findings include:

  *Three out of five employees who would strongly recommend their employer
    report benefits are an important reason why they remain with the company.
  *More than half (51%) of employees report they are willing to bear more of
    their benefits costs in order to have a choice of products that meet their
    needs.
  *58% of employers say providing voluntary benefits is a significant
    benefits strategy – up significantly in 2012 from 32 percent in 2010.

“Companies that are recognized by employees as great places to work appear to
be making the connection between job satisfaction and benefits satisfaction.
With many employees saying they would pay more for a wider range of voluntary
benefits, employers clearly have an opportunity to increase benefits
satisfaction without increasing the bottom line,” said Anthony J. Nugent,
executive vice president, MetLife.

As companies grow their voluntary benefits offerings, encouraging and enabling
participation in their programs is vital. Less than half (42%) of employers
are very satisfied with the current employee participation levels in their
voluntary benefits programs. The study explores several strategies for
improving employee participation rates, including:

  *Improving communications around benefits: While 52% of employers believe
    their communications are very easy to understand, only 43% of employees
    agree. More than one-third of employees grade their company’s benefits
    communications a “C” or below.

  *Creating a benefits shopping experience that consumers find familiar:
    Seventy-five percent of employers who offer online enrollment and are
    satisfied with employee participation rates report a buying experience
    that compares favorably with the best online consumer shopping
    experiences.

To learn more about how employers can improve the voluntary benefits
experience and receive employee recommendations as a “great place to work,” as
well as the top benefits communications tactics employees find most helpful,
access MetLife’s 11th Annual Study of Employee Benefits Trends by visiting
BenefitTrends.MetLife.com.

Methodology

MetLife’s 11th Annual Study of Employee Benefits Trends was conducted during
October 2012 and consisted of two distinct studies fielded by GfK Custom
Research North America. The employer survey comprised 1,503 interviews with
benefits decision-makers at companies with staff sizes of at least two
employees. The employee sample comprised 1,422 interviews with full-time
employees age 21 and over, at companies with a minimum of two employees.

About GfK

GfK is one of the world’s largest research companies, with more than 11,500
experts working to discover new insights into the way people live, think and
shop, in over 100 markets, every day. GfK is constantly innovating and using
the latest technologies and the smartest methodologies to give its clients the
clearest understanding of the most important people in the world: their
customers. To find out more, visit www.gfk.com/us or follow GfK on Twitter:
www.twitter.com/gfk_en.

About MetLife

Metropolitan Life Insurance Company (MetLife) is a subsidiary of MetLife, Inc.
(NYSE: MET), a leading global provider of insurance, annuities and employee
benefit programs, serving 90 million customers in over 50 countries. Through
its subsidiaries and affiliates, MetLife holds leading market positions in the
United States, Japan, Latin America, Asia Pacific, Europe and the Middle East.
For more information, visit www.metlife.com.

Contact:

MetLife, Inc.
Christina Tso, 212-578-4946
ctso@metlife.com
 
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