Study 30% of employees would take less salary for better benefits

Study 30% of employees would take less salary for better benefitsStudy 30% of employees would take less salary for better benefitsAttraction, engagement, purpose, and retention are the themes of this years MetLife Annual U.S. Employee Benefit Trends Survey.The insurance giant surveyed both employers and employees the employer survey included 2,500 interviews with benefits decision-makers the employee survey consisted of 2,675 interviews with full-time employees over 21 years old.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moraMany of employees top sources of financial stress were medical-related72% being able to afford the cost of healthcare in retirement68% outliving my retirement savings67% having money to pay the bill is someone loses their job67% having money to cover out-of-pocket medical costs66% the ability to rely on Social Security/Medicare in retirementIn fact, the percentage of peop le polled by MetLife since 2015 who agree with the statement I expect to postpone my retirement due to my financial situation has skyrocketed from 37% in 2015 to 52% in 2019. Stagnant wages may be one likely cause.Employers know that offering benefits is good for business. The vast majority of employers (80%) said benefits were so important that they played an important role in building workplace culture. And 78% of employers said that benefits let employees be more productive.Still, employees want more and better benefits. On the employees side, benefits attract talent 6 in 10 employees said that benefits were a major reason why they chose to work at their company.Still, theyre not as happy with them as they could be.Only 67% of employees are satisfied with the benefits they receive, while 73% of employers think their employees are happy with the benefits offered.A not-insignificant 3 in 10 employees say they would trade more money for better benefits.A slew of new emerging benefi ts is an area where employers can make a difference in making employees happy. Here are the emerging benefits people care about the most72% unlimited paid time off69% wellness programs rewarding healthy behavior68% phased retirement programs66% paid sabbatical program61% on-site free/subsidized services like meals, gym, dry cleaning, hair59% on-site health/medical care (including mental health)33% subsidized egg freezingEmployers are attempting to meet employees changing needs with holistic benefits 57% of them this year. After the basics like medical and dental are met, employers can offer a wider range of benefits like accident insurance, legal service, and retirement programs that help employees manage their money after they retire. These types of programs all fell under the nice to have category chosen by employees in the study.The future of benefits may be in customization 93% of employees rated the option as either a must-have or a nice to have. Theyre way ahead of employer s, only 68% who see customization as important.But since 72% of employees agreed with the phrase, Having benefits customized to fit my needs would increase my loyalty to my employer, well see how fast they catch up.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people