Research: 2020 Navigating Together: Supporting Employee Well-Being in Uncertain Times

Now in its 18th year, MetLife’s annual benefit trends study consists of two pieces of research. The first (wave one) was conducted last year and provides insights gleaned from the late summer of 2019. The second wave was undertaken in early April and highlights emerging perspectives from our current moment in time as we collectively respond to the pandemic.

Key findings

• Data from both before and during the crisis clearly shows that when employers provide greater support to their employees, their employees are more successful.
• Financial wellness support is continually valued: employees who successfully navigate the work-life blend are more likely to say their employers offer financial wellness programmes that meet their needs.
• The top drivers of productivity, engagement and loyalty are employee recognition, competitive compensation and a comprehensive benefits programme.
• Financial wellness is particularly important for holistic well-being. Employees with poor financial health also rate their mental, social and physical health significantly lower than the average.
• A comprehensive approach to benefits can support employee well-being by meeting their diverse and changing needs and ultimately help employees feel more valued by their employers.

Although this research is based on the US market, it provides an opportunity to compare and contrast trends in the UK.