The ongoing economic turmoil has created a complex web of business challenges for employers – including a multi-generational workforce that is now looking more than ever to their employer for help with their financial security. According to MetLife’s 10th Annual Study of Employee Benefits Trends, nearly half (49%) of all employees – and 66% of Gen Y employees – say they are counting on their employer for help.
The age of an individual at the time of the 2008 recession, and where they were in their career, was a defining moment in employees’ lives. About one in three Boomers now say they plan to postpone retirement and one in four older Boomers say they are significantly behind in saving for retirement. At the same time, for younger generations, the recession fueled a focus on workplace benefits in an effort to achieve financial security at an earlier point in their life.
As employees struggle to make ends meet and plan for their future, the potential for benefits to help employers meet their benefits objectives of attracting and retaining key talent and moving the needle on employee productivity is stronger than ever.
Explore "What a Difference a Decade Makes" with this Interactive Fact Wheel to see what employees are saying today.
