Employee Benefit Trends Study 2020

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MetLife Employee Benefit Trends

Navigating Together: Supporting Employee Well-Being in Uncertain Times

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The Coronavirus (COVID-19) pandemic has transformed work and life, creating new challenges for employees and employers. Understanding how to improve employee well-being is key to helping employees navigate this new reality.

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Navigating Together: Supporting Employee Well-Being in Uncertain Times

What You'll Learn

A holistic model of well-being, and a mix of programs and benefits to support it, can help employees and employers navigate the stresses of the pandemic and manage successfully through to recovery.

Companies that address the holistic needs of their employees can help them feel more protected and cared for, which in turn improves productivity, engagement and reduces stress and burnout. In this way, companies that support their employees holistically are better positioned to meet the evolving challenges of the Coronavirus (COVID-19) pandemic, and support both employee and business performance.

The study we are sharing today blends two waves of research:

 

  • Wave 1 = pre-pandemic insights (from late summer 2019)
  • Wave 2 = insights from the start of the pandemic (a narrower study fielded in early April 2020).
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    As an advocate for the workforce, now more than ever our goal is to help people and organizations navigate uncertainty together and emerge on the other side of this crisis stronger and more united.

    Chapter 1: The New Work-Life Reality

    In the midst of the pandemic, work and life are blending more than ever before and employees are increasingly stressed. Meaningful employer support and resources can help employees better manage this blend.

    Employee Stat on covid-19

    Want the full study?

    Get over 60 pages of data and insights.

    Chapter 2: Driving Employee Engagement and Reducing Stress

    Employees who feel supported by their employers report feeling more successful, valued, engaged, productive and respected. If employees are unsupported, reports of those feelings drop significantly.

    Improving productivity, engagement and loyalty, as well as reducing stress and burnout, are key objectives for organizations looking to manage both through and beyond the pandemic. Explore tangible ways to drive positive outcomes, mitigate employee challenges and recover from the impact of crisis.

    Data Visualization: What Drives Desired Employee Outcomes
    Filter the drivers of employee outcomes based on your organization’s goals and industry in the interactive tool below:

    To experience the data visualization fully, click here.

    Chapter 3: Supporting Employees by Embracing a Model of Holistic Well-Being

    74% of employees are concerned about at least one aspect of their well-being as a result of the virus

    A holistic well-being approach that addresses four key components — mental, financial, social and physical health — will be critical for companies both to help their employees manage the crisis and support their organization’s recovery. Learn how this approach can influence positive business outcomes, like productivity.

    We have weekly calls led by our CEO and CHRO focused on well-being. There are doctors with different specialties (family, mental health, etc.) who give updates on COVID-19 and answer questions.

    Want the full study?

    Get over 60 pages of data and insights.

    Chapter 4: Promoting Employee Well-Being With Benefits and Communications

    A comprehensive benefits program is the #3 driver of holistic well-being

    As employers think not only about addressing the pandemic, but recovering from it in the months to come, a comprehensive approach to benefits and communications can be critical to both the company and its employees.

    See how this approach can support the holistic, diverse and evolving needs of employees.

    Data Visualization: What Employees Consider Must-Have Benefits
    Explore what employees consider must-have benefits to focus your benefits strategy
    Filter the benefits by industry, company size and region in the interactive tool below:

    To experience the data visualization fully, click here.

    In Summary

    One thing remains constant in the blended work-life world: employees whose employers provide effective support and the right mix of benefits are better equipped to manage and recover from the impact of the crisis. We hope this study can be a helpful resource for employers in this challenging time.

    Download the full study with 60+ pages of comprehensive insights and strategies

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    Group Benefits Head shares unique approach to the study

    Perspectives