Regardless of whether they are younger or older, employees who feel personally supported by their employer’s benefit package are significantly more likely to stay with the organization, the findings of a global study conducted by Thomsons Online Benefits indicate.
Drawing on a survey of more than 2,200 employees of multinational companies, the “Global Employee Benefits Watch” study, released on May 22, reported that respondents who said they feel that their benefit scheme has a positive impact on their lives were more than 40% more likely to classify themselves as loyal towards their employer than those who did not.
The findings indicated, however, that global employers are struggling to provide the range of benefit options needed to support today’s diverse workforce. For example, the survey showed that almost 60% of employees want to improve their mental well-being and get fit and healthy, but only 23% of employees feel fully supported in such efforts by their employer.
Researchers also observed that employees who currently have a vast array of choices in how they manage information in their personal lives now seek to have this level of choice replicated in their workplace. When respondents were asked which platforms they would like to use in managing their benefits, 45% cited their desktop and 35% said their mobile device, while 46% indicated they still want face-to-face communication. Noting that the desire to have a range of communication types was found across age groups, researchers advised employers looking to win the loyalty of their employees to focus on supporting their individual needs, and stop thinking in generational stereotypes.
In addition, the analysis shed light on regional discrepancies, with employees based in the Asia-Pacific countries (APAC) displaying higher expectations of employer support around life events than workers in other parts of the world. For example, the survey found that 42% of respondents in APAC countries, but just 19% of respondents in European, Middle Eastern, and African countries (EMEA) said they would appreciate support from their employer when starting a family. Similarly, 47% of APAC respondents, but only 19% of EMEA respondents, said they would like help from their employer when getting married.
From Benefit Trends Newsletter, Volume 61, Issue 7
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