Nearly six in 10 companies say that voluntary benefits are a significant part of their benefits strategy, new research shows.
MetLife discloses this finding in a summary of results from its “Study of Employee Benefits Trends.” The 11th annual report describes successful tactics and strategies to increase the value of company benefits programs.
The study reveals that 58 percent of employers say that voluntary benefits are a “significant benefits strategy.” The sentiment is most pronounced among businesses with more than 500 employers: Nearly three-quarters (72 percent) of these firms view voluntary benefits as important.
Among companies with 500 or fewer employees, the proportion falls to 50 percent.
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More than half of the employees surveyed say that employer-paid life, dental and disability benefits influenced their decision to join their employer (51 percent) and stay with their employer (54 percent). In respect to medical benefits, the proportions are 57 and 47 percent, respectively.