American workers are re-evaluating their needs from employers. From pay to benefits, what is weighing higher in order of importance in this time of the Great Resignation.
A large majority of American workers (67% according to a survey done by Franklin Templeton) have began re-evaluating what they want from their employers. With 44% considering leaving or have left their jobs in the past year.
“For employers, there has never been a more urgent time to evaluate benefit offerings and consider ways to evolve how they are supporting employees needs”. Yaqub Ahmen
Workers Today are feeling...
That their needs are not fully being met. 64% have stated ” I am looking for more out of my employee benefits”, most employees aren’t being educated on the options available. And many employers are unaware that they can offer more than one healthcare option to employees. Therefore, missing the mark on meeting the needs of all employees.
Not all employees are paid on the same scale or have the same family dynamic. Therefore, employers may be missing the mark in healthcare offerings.
By giving the employees 2-3 plan offerings you are giving them the choice to find a plan that works for themselves or their families. Some younger employees may want an HSA plan to help save on cost, while another employee may want a mid to low deductible plan with immediate copays for office visits and prescription drug coverage.
These array of healthcare plans can also make the premiums more affordable. For employees that don’t need as rich of a healthcare plan but, want to have coverage for a catastrophic event or preventative care. To employees that have more of a need, with a better benefit plan that comes with a higher monthly premium.
Today 84% of employees are looking for more choice, more flexibility and more education on being financially stable.
Bringing in professionals to help educate your employees on an array of topics from understanding their health benefits, financial planning and saving for a better future are all great ways to help improve employee satisfaction.
Another survey states that financial well-being among those with debt is a major roadblock.
Despite trying to balance all three elements of well-being ( mental, physical and financial), employees aren’t feeling as in control over their financial health as they do in other areas.
- 83% of American workers carry at least one form of debt. This can have a major impact on their work.
- 60% state concerns about their current levels of debt.
- 56% state that their debt levels have prevented them from taking financial risks they would have taken with less debt.
- 45% have stated it doesn’t seem like it will ever be possible to pay off all of my debt.
