A lot has been written about the Great Resignation and its impact on the workplace over the past year (more than 3,400 articles since May 2021).1In recent months,a record number of U.S. workers have quit their jobs. At the same time, employers are struggling to find workers, with some businesses needing to adjust their hours and services due to staffing shortages. Areas gearing up for the summer travel season, like my hometown, arestruggling to find seasonal workersto lifeguard beaches, dock ferry boats, and wait tables. Even with some recent layoffs and slowdowns in hiring, in most industries workers have the upper hand in today’s job market. They’reasking employers for the things that matter mostto them—whether that’s better pay, more flexible schedules, hybrid working arrangements, or increased caregiving support. They’re also looking for more supportive workplace cultures, where they feel a sense of belonging.
According to MetLife’s recent study on employee benefits trends,employee loyalty has been decreasing for the past 20 years—a trend which accelerated during the global pandemic as increased pressures and new perspectives have caused people to switch careers or leave the workforce altogether. Among those who felt higher levels of job dissatisfaction were “women, Generation Z, people of color, and manual laborers.”2
Author and thought leader Aaron Hurst recently posted a LinkedIn poll about the shift occurring in many workplaces, asking people which terms best describe their company culture: “command and control” or “care and connection.” Nearly 70% of respondents selected the latter approach. If you’re looking to illustrate how you can support employees, benefits are just one of the many ways you can tangibly show your organization’s commitment to creating and sustaining a culture that values empathy and well-being.
In fact, MetLife’s research indicates that when people understand their benefits, including what’s covered and what isn’t, they’re more likely to be engaged with their work in several key ways:
101% more likely to trust their employer’s leadership
94% more likely to feel valued and appreciated
80% more likely to be satisfied with their current job
60% more likely to intend to still be working for their organization in 12 months
Source: MetLife’s 20th Annual U.S. Employee Benefit Trends Study 2022,metlife.com/ebts2022.
If these statistics don’t make a compelling case for benefits communication, I don’t know what does!
2“The Rise of the Whole Employee: 20 Years of Change in Employer-Employee Dynamics,” MetLife’s 20th Annual U.S. Employee Benefit Trends Study, 2022.metlife.com/ebts2022
Megan Yost, SVP Engagement Strategist, is a recognized thought leader in benefits communications, particularly in the areas of retirement, financial wellness, and employee engagement.
