Employee Satisfaction With Benefits Correlated To Job Satisfaction

Workers who are happy with their benefit packages are also likely to express satisfaction with their jobs and loyalty to their employers, according to an annual survey on employee benefits trends conducted by MetLife. Moreover, many workers place a high value on workplace relationships and work/life balance when deciding whether to change jobs, the study found.

In a survey of 885 employees and 1,514 human resource executives taken in 2005, 39% of employees reported feeling somewhat or very satisfied with their benefit packages, up from 36% in 2004 and 32% in 2003. Among those employees who said they feel very satisfied with their benefits, 65% indicated they are also very satisfied with their current jobs, and 67% said they feel a strong sense of loyalty to their employers.

Employees age 61–69 expressed the greatest levels of satisfaction with both their employer-provided benefits and their jobs, with 63% of respondents in this group indicating they are very satisfied with their benefits and 75% saying they feel loyal to their employers.

The quality of the benefit package provided by an employer is an increasingly important consideration for workers when deciding whether to remain in a job or look for new employment, the study showed. In 2005, 31% of the employees surveyed said benefit offerings were an important factor in the decision to come to work for their current employers, up from 25% in 2004 and 2003; furthermore, 38% of employees cited having satisfactory benefits as an important reason why they remain in their positions, up from 35% in 2004.

The study also indicated, however, that the benefit package offered by an employer is not the leading consideration when a worker is deciding whether to join or stay with a company. When asked what factors were very important in this decision, quality of coworker and/or customer relationships was cited by 58% of the employees surveyed, work/life balance by 56%, working for an organization with a mission or purpose they support by 54%, the opportunity for financial growth and advancement by 52%, and the opportunity for skill building and professional growth by 51%.

"As the demand for experienced knowledge workers intensifies, employers need to understand what motivates—and inspires the loyalty of—today’s high-performing employees," said Maria R. Morris, executive vice president, Institutional Business, MetLife. "In most cases, it’s not the corner office or a large paycheck, but rather, the opportunity to work for a company that fosters strong workplace relationships and inspires a sense of balance and/or purpose."