Employees are hurting. Company benefits could be the balm.
National Employee Benefits Day is April 6, 2024. Celebrated every April, it’s a time to thank all benefits professionals. Those who administer company benefits play a pivotal role in employees’ overall wellness. Especially now.
Currently, employee wellness (or lack thereof) is at a pivotal point for American workers. The pandemic hit workers incredibly hard, and many are still struggling to regroup.
Employees are hurting
Data from a recent survey by MetLife shows that employees are hurting. From mental health issues to negative feelings about work, the survey indicates that more than 51 percent of employees reported feeling more depressed at work than before the pandemic.
MetLife explains the reason for these feelings is from people being in a state of “permacrisis” — a continued sense of heightened alarm from the pandemic, inflation, war, and other chaos.
As a result, there’s an urgent need for employers to take an active role in supporting their employees through company benefit programs.
Some good news
The MetLife report wasn’t all doom and gloom. Employees reported being more satisfied with their benefits now (65 percent) than last year (61 percent).
Along with higher benefit satisfaction, the survey showed that employees are more interested in:
- Tailored benefit options,
- Benefit communication, and
- Support when making decisions when choosing benefits.
This means, employers that are regularly sending out communication about benefits — whether it’s flyers on the back of bathroom stalls or announcements on an intranet page — are likely faring better when it comes to supporting and retaining employees than employers that are doing nothing (or the bare minimum).
The impact doesn’t stop there. MetLife data also says that when employees use their benefits and understand them, they feel like their employer cares about them (88 percent). This translates into 60 percent indicating that they plan to stay at their employer within the next year (i.e., employee retention.)
Employer options
Even though much of this data seems bleak, it’s all about how employers approach the issues at hand. This could mean starting with a full audit of a company’s benefit offerings or an employee survey.
Another tactic could be focusing on major changes in employees’ lives, such as:
- Hiring/onboarding
- Getting married
- Having a baby/adopting/fostering
- Divorcing
- Caring for elderly parents
Life changes may present employees with the need to reassess benefits or pursue options they have never used before. This might require some guidance from the employer. Shore up any communication plans to address these major life events. This could include:
- Bringing in guest speakers,
- Hosting lunch-and-learn sessions, or
- Posting training videos about benefits.
Whatever communication method works best to encourage employees to be engaged with their benefits is a step in the right direction.
Key to remember: In the aftermath of the pandemic, many employees are still struggling. Companies can help demonstrate their support through benefit programs.