Pivt’s Takeaways from MetLife’s Benefit Trends Study
We highlighted what we thought were the most notable findings:
- Less than half of businesses offer personalized benefits for globally-mobile employees and their families. One in six U.S. expatriates did not receive employer resources relating to their overseas assignments at all. Twenty-four percent received tax support, while only twentyone percent obtained services relating to their relocation, pre-travel arrangements, or even access to mental health support programs.
- Employees who live and work abroad have a significant need for better holistic health. Globally mobile employees are struggling across every component of holistic well-being.Only forty-seven percent of respondents feel confident in their mental health, forty-three percent in their financial health, forty-two percent in their social health and forty-five percent in their physical health
- Employers have to consider the various components of well-being when offering support to their global workforce. Most organizations’ well-being efforts focus on support for physical health and access to wellness resources. This traditional approach to wellness fails to incorporate a holistic look at wellbeing, including mental, financial and social health.
- Employers have a different perception of the wellbeing of their globally-mobile employees. Eighty-four percent of those surveyed believed these employees were mentally and physically healthy. Eighty-three percent believed their globally-mobile workforce felt socially healthy, and seventy-nine percent held that these employees felt secure in their financial health. The difference in perceptions between employees and their employers is staggering.
- Taking a holistic approach to well-being will be critical for companies to help their employees manage the crisis, and also to support their business’ recovery by improving productivity and engagement and reducing stress and burnout.
- Only forty-three percent consider social health in their plans, fifty-six percent consider physical health, and seven percent do not include a definition of a healthy workplace.
- Social isolation is difficult in its own right; adding in pandemic-related anxieties only intensifies this common challenge for Pre-COVID-19.
- Employers can foster inclusivity and adoption by providing an open forum for dialogue about holistic well-being across their business.
- Supporting these conversations with resources, campaigns, actionable tools like employee assistance programs and guidance can round out these efforts and make them as effective as possible.
- Mental health and stress are the leading sources of concern for employees working and living abroad. This was true before the start of the pandemic and has only intensified in the months after. Employees need their employers’ help, and globally-mobile employees need assistance from their company’s well-being programs to bridge the knowledge gap as they navigate living in a new country.