As 2017 comes to a close, we at Metlife have our eye on five key trends for employers, brokers and advisors to watch in the year ahead, based on the findings from our 15th Annual Employee Benefit Trends Study (EBTS) and other industry indicators. Here are the areas we believe are deserving of your focus in the year ahead:
1. Human/machine balance
New technologies that enable automation and digitization certainly have a lot of positive potential. But, from the employee retention perspective, these advances can also necessitate a renewed focus on engagement. According to Pew Research, almost three quarters of Americans are worried about a future where robots and computers are capable of performing many human jobs.
Smart employers will stay ahead of employee concerns and show their people they care–and are investing in them–by meeting their personal needs. This means benefits are more strategically important than they've ever been. In fact, 75 percent of employees say that the ability to choose their benefits keeps them loyal to their employers, according to MetLife's EBTS.
Recommended For You
2. New formula for engaged employees
For the last several years, voluntary benefits have been on the rise as employers focused on retaining their talent. As employers continue to focus on engagement, we expect to see medical + voluntary + financial wellness emerge as the new formula for engaged employees. MetLife's EBTS shows that more than half of employees say that financial planning programs are important for increasing loyalty to their employers. However, the study also shows that employers aren't keeping pace with employee demand, with only one in five offering financial planning programs.
Employers who get ahead of this trend and provide the financial wellness resources employees are seeking will be poised to stand out as employers of choice.
3. Personalized prioritized
Employees are turning to their employers for financial resources, like benefits, more than ever before. Our EBTS study showed that 62 percent of employees are now looking to their employers for more help in achieving financial security through employee benefits, compared to 54 percent in 2016. However, only a third of employees feel their employers' benefits communications adequately address their lives and personal situations.
As employee expectations around personalization continue to grow, carriers, brokers and employers will focus on deeply understanding workers' needs and improving the way benefits are communicated through personalization.
4. Greater ecosystem integration
When it comes to delivering an engaging benefits experience for employees, partnerships are what to watch in the year ahead.Employers are relying on brokers for a broader array of advice, according to EBTS. Separate MetLife research shows that benefit communication firms are on a growing number of employers' radar screens.
As the benefits ecosystem continues to expand, seamless integration between carriers, brokers, third parties, and employers will be a necessary focus. In the coming year, we'll see employers move away from "point solutions" and toward better, more integrated user experiences.
5. Data security dilemma
Data security topped our list of trends to watch last year, and we've included it again with good reason.Four in five brokers say they're concerned about employee data security. Cyber threats are also top of mind for small business owners, with a recent Small Business Index from MetLife and the U.S. Chamber of Commerce showing nearly 2/3 are concerned about a cyberattack.
Additionally, more than 80 percent of employers say their top benefits objective is retaining employees, according to EBTS. A data issue would certainly undermine that objective and impair the employer-employee relationship. One way employers can shore up their digital support chain is by moving to a single benefits carrier to limit the exposure of employee data.
Bonus benefit to watch: Hospital indemnity
Critical illness and accident have led the voluntary health lines as options for employees to cover out-of-pocket health care expenses. But this lesser-known supplemental health option is gaining momentum too. Research from the University of Michigan shows that even those with health insurance can pay more than $1,000 for a hospital stay. With more than a third of employees living paycheck to paycheck, according to EBTS, many aren't prepared for a large, unexpected expense. To limit their exposure, employees will look to voluntary options like hospital indemnity plans, giving this benefit legs for the year ahead. In fact, 84 percent of employees say hospital indemnity insurance is a must-have or nice-to-have benefit, according to EBTS.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
