Employers don’t think employees value benefits – MetLife

Almost three-quarters of employers think that employees would rather have the cash equivalent of many benefits, despite evidence suggesting that 66% of employees actually prefer life insurance to cash. Research for MetLife also finds that 74% of employers admit to not communicating the benefits of group income protection benefits because they fear employees will take time-off if they are aware the benefit is in place.

Both employees and employers misunderstand the purpose of many group risk benefits such as life assurance and income protection, the research finds.

Tom Gaynor, Employee Benefits Director at Met Life, said:

‘There is a huge gulf between what employers and employees think about benefits and a lack of understanding on both sides on the value of employee benefits.’

Employer research carried out by independent company, Atomik Research, among a sample of 257 company owners, C-level execs and senior managers in companies of 75-250 employees in May 2016. Employee research conducted online by independent company, Consumer Intelligence, among a sample of 1,211 respondents between 5 May and 9 May 2016.