Half of employees were very satisfied with their workplace benefits in 2013, up from 38 percent in 2012, according to a new report from MetLife.
The portion of satisfied employees is the highest since MetLife began doing the "U.S. Employee Benefit Trends Study," now in its 12th year.
"Employees who are very satisfied with their benefits are more than twice as likely to report being very satisfied with their jobs. Because of this, offering a wider variety of benefits pays dividends for both employers and employees," Todd Katz, executive vice president of MetLife's group, voluntary and worksite benefits, said in a press statement.
The study also found that among employees:
- 78 percent want a greater variety of benefits from which to choose
- 80 percent would value benefits customized to individual circumstances and age
- 60 percent are willing to bear more of the cost to have a choice of benefits to meet their needs.
However, only half of employers reported that voluntary benefits -- those that employees choose and pay for -- are a significant part of their benefits strategies. That was down from 58 percent in 2012.
Katz said the shift by employers was surprising, but was probably due to companies being consumed by health care reform and controlling costs versus a change in strategy.
The study features results from surveys of employer benefits managers, employees and brokers fielded in October and November 2013 by GfK Custom Research North America.