Younger workers see more value in workplace programs–43 percent think they inspire innovation and 74 percent feel they improve business outcomes. (Photo: Shutterstock)
Employers might think their workplace programs—such niceties as health and wellness, events, rewards and recognition, reimbursement and employee resource groups—are a good way to build employee engagement and company culture, and that's true… for some of their employees.
According to a survey from Espresa, executives aged 55 and older aren't enamored with workplace programs. In fact, they're the least likely to indicate they would like to see company events offered in the future (just 6 percent, compared with 21 percent overall).
Younger workers (ages 25–34), on the other hand, are more likely than their elders to say that a top business goal of workplace programs is to inspire innovation (43 percent, compared with 17 percent), and 39 percent of those whose companies don't already offer one say they'd like to see a health and wellness program put in place. They're even bigger fans of lifestyle and convenience programs, with 43 percent of those whose companies don't offer one saying they'd like one in place.
Of course, 61 percent of those younger workers already say they're “extremely” or “very” satisfied with the variety of programs and events offered by their bosses, compared with just 25 percent of the 55+ group. In fact, the older the group of workers, the lower their satisfaction level; among those 35–44, 56 percent said they were “extremely” or “very” satisfied, while among those 45–54, the percentage dropped to 29.
And while 74 percent of those younger workers also feel that their employers' workplace programs already in place are improving business outcomes “to a great extent,” not so for those older workers—just 25 percent of the 55+ crowd agree with that statement. In fact, 12 percent completely disagreed, with a “no, not at all” response. Even intermediate age groups aren't all that impressed with the results of such programs, with just 44 percent of those aged 35–44 and 31 percent of those aged 45–54 agreeing with their juniors.
When it comes to reimbursement programs for such expenses as gym memberships, education expenses, travel costs and other such items, women are notably more likely to have taken advantage of them than men; in the past 12 months, 52 percent of female employees indicated that they had done so, compared to just 34 percent of their male counterparts.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 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.
Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
