The economy is causing employees – particularly younger generations – to turn with greater interest to employers for help with establishing financial security.  Nearly half (49%) of all employees surveyed say that because of the economy they are counting on employers' benefits programs to help with their financial protection needs, and that percentage climbs to 55% for Gen X workers and 66% for Gen Y.  The majority of surveyed employers (60%) feel economic conditions are creating additional opportunities to leverage workplace benefits programs to achieve their objectives, and only about 10%, regardless of company size, say they plan to reduce benefits, according to MetLife's 10^th Annual Study of Employee Benefits Trends.  Findings from the study, available at www.metlife.com/benefitstrends, highlight ways employers can evolve their benefits strategies as a result of the recession to cost-effectively attract and retain a talented and productive workforce

Among the employers that see additional opportunities to leverage their benefits programs, 91% feel strongly that benefits can be used to retain employees, 86% say that benefits can greatly increase employee productivity, and 80% feel that benefits can greatly help attract employees – all key objectives. 

"Economic conditions are driving fundamental differences in younger workers' attitudes toward employee benefits, financial decision-making, career planning, job satisfaction and loyalty to employers," says Dr. Ronald S. Leopold, vice president, MetLife.  "While one out of three surveyed employees are hoping to work for a different employer this year that number jumps to one out of two among Gen Y.  With younger workers in particular looking more closely at their workplace benefits, employers have the opportunity to leverage them as a driver of employee loyalty.  The study found that employees who are very satisfied with their benefits are nearly three times as likely to say they are very satisfied with their jobs."