Customization May Be the Future of Employee Benefits

A recent MetLife study revealed having customized benefits is a top concern of employees.

The study found that 74 percent of employees said that being able to receive benefits customized to their needs is an important factor when weighing a job offer. In addition, 72 percent of employees surveyed said that being able to customize their benefits would boost their loyalty to their current employers.

“Today, our lives reflect our preferences,” said Todd Katz, executive president of MetLife. “We choose how our coffee is made, create personalized playlists and decide which apps we have on our phones. In all aspects of our lives, we can make choices to meet our unique needs. The same should apply when it comes to benefits.”

Some 59 percent of employees surveyed said that health and wellness benefits are important to increasing feelings of company loyalty, while 53 percent cited financial planning programs as a major contributing factor. 

However, the survey also showed many employees do not fully understand the extent of the benefits available to them. Not having the time or energy to fully explore their benefits and a not knowing who to go to with questions were cited as two reasons for this lack of understanding. 

Another benefit employers may want to explore is the availability of employee assistance programs, BenefitsPro advised. These programs help employees “resolve personal problems that impact their work performance,” and have been shown to improve employee productivity and happiness. 

A recent study by MetLife revealed that having customized benefits is a top concern of employees.