{"id":741145,"date":"2023-03-20T08:04:45","date_gmt":"2023-03-20T12:04:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/can-employers-afford-not-to-care\/"},"modified":"2023-03-20T08:04:45","modified_gmt":"2023-03-20T12:04:45","slug":"can-employers-afford-not-to-care","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/can-employers-afford-not-to-care\/","title":{"rendered":"Can Employers Afford Not to Care?"},"content":{"rendered":"

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Can Employers Afford Not to Care?<\/b><\/p>\n

MetLife\u2019s 21st<\/sup> annual U.S. Employee Benefit Trends Study reveals \u2018care\u2019 is a key driver <\/i>of life and job satisfaction \u2013 and not prioritizing it is causing major issues in the workplace<\/i><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe Great Resignation, quiet quitting, and labor hoarding are among the buzzy workplace trends ignited by one common theme: a lack (or perceived lack) of care for employees. MetLife\u2019s 21st<\/sup> annual U.S. Employee Benefit Trends Study (EBTS)<\/a> reveals feeling \u2018cared for\u2019 at work is a key driver of employee holistic health and happiness, which are strongly connected to employee productivity and job loyalty. Yet the study found nearly half of today\u2019s employees (42%) don\u2019t feel cared for by their employers.\n<\/p>\n

\nWhen employees don\u2019t feel cared for at work, their wellbeing, happiness, and overall satisfaction take a hit. They are over two-thirds less likely to be holistically healthy and happy than employees who do feel cared for. These employees are also 65% less likely to feel a sense of belonging at work and 72% less likely to feel valued by their employers. This, in turn, has a measurable impact on organizational performance: among employees who don\u2019t feel cared for at work, only 45% are engaged, 58% are productive, and 54% are loyal (versus 87%, 90%, and 89%, respectively).\n<\/p>\n

\n\u201cOur research shows care is not only a differentiated driver of the employee experience \u2013 but also a proven workplace metric to measure employer outcomes,\u201d said Todd Katz, executive vice president, Group Benefits at MetLife. \u201cAs the economy and labor market remain volatile and workplace trends fluctuate, employers can\u2019t afford to overlook employee care. When organizations genuinely demonstrate employee care, they are much more likely to weather macro challenges effectively, and rise to the top for current employees and job seekers alike.\u201d\n<\/p>\n

Care Gaps Leave Certain Employees Feeling Less Valued, Healthy and Loyal<\/b><\/p>\n

\nWhile employers recognize the importance of employee care, many are failing to demonstrate it in an effective way \u2013 defaulting to a one-size-fits-all approach, rather than through an inclusive and compelling employee experience that meets individuals\u2019 needs.\n<\/p>\n

\nAs a result, certain employee cohorts have emerged as feeling less valued and appreciated than others \u2013 leading to clear disparities across the workforce. For example, while 72% of men and 70% of white-collar workers feel their employer is demonstrating care on the job, only 60% of women and 58% of blue-collar workers say the same. Across age groups, Gen Z employees are the least likely to feel cared for at work (only 53% do, versus 61% of millennials).\n<\/p>\n

\nConsequently, these are some of the least healthy employees in the workforce. In the last year, holistic health has declined 20% for female employees, while it has remained the same for male employees. Similarly, only 26% of Gen Z employees feel holistically healthy, compared to 48% of baby boomers. These cohorts are also less likely to think their employers are committed to their success, leading to a greater willingness to consider leaving their employers this year.\n<\/p>\n

Demonstrating Care at the Individual Level<\/b><\/p>\n

\nAmid the fluctuating employment landscape, employers need to look at each aspect of the employee experience through the lens of care \u2013 including everything from culture, purposeful work, and flexibility, to benefits, career development and even compensation. While demonstrating care across all these touchpoints is important, the research shows each cohort prioritizes certain aspects over others \u2013 and understanding these niche needs will enable employers to optimize their approach and meet expectations. For example:\n<\/p>\n