BENCHMARKING TOOL HOME HOW TO USE THE TOOL THE VALUE OF BENCHMARKING       Regional Insights       Company Size Insights       Company Type Insights       Industry Insights       Employee Job Type     Household Income Insights       Generation Insights       Life Stage Insights ABOUT THE DATA This annual Study is the source data for the Benefits Benchmarking Tool. It is unique in its scope and depth  and provides extraordinary levels of detail regarding benefits programs and perceptions of employers and employees. Access the Study

With consumer prices and healthcare costs increasing and more families living paycheck-to-paycheck (up to 44% from 37% in 2007), getting the most value out of employee benefits is becoming increasingly important. Employers will be pressed to design high value benefits strategies that are affordable for employees at all income levels while controlling costs. It’s understandable that attitudes and expectations may vary depending on an employee’s ability to pay for certain benefits, particularly when it comes to voluntary benefits, however this year’s study uncovered some less-than-obvious attitudes centered around income levels. Consider these examples of how household income can impact benefits strategies: Household Income Attitudes Employees earning between $40K and $74.9K are more likely to be interested in a wider array of voluntary benefits (48%) compared to those earning less than $40K (39%). 47% of employees earning between $40K and $74.9K say they are satisfied with their benefits compared to 34% of employees earning less than $40K. 13% of employees earning under $40K say they are on track for reaching their retirement savings goals while 36% of employees earning more than $75K say they are on track. 41% of employees earning over $75K say they have a formal retirement plan compared to 16% of employees earning under $40K. 61% of employees earning more than $75K say a 401(k)/403(b) plan is the most important benefit compared to 50% of employees earning less than $40K. Enlarge | Download View Previous Insight   View Next Insight Source: 6th Annual MetLife Study of Employee Benefits Trends

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