Benefits, Strategic HR

Younger Workers Value Benefits, but Concerned about Flexibility, Affordability

A new survey from Mercer, representing a cross-section of the national workforce, found that most workers are satisfied with their company’s benefits. However, many respondents, especially younger workers, said they are concerned about the affordability and flexibility of these benefits in the future, especially concerning health care and retirement.

Only 41% of respondents see health care as affordable 5 years from now versus the 62% who see them affordable today, according to latest data from Mercer’s Inside Employees’ Minds Survey. Also notable is that 32% of respondents indicated they were concerned about their ability to afford health care in their retirement, up from 24% in the previous survey.

A press release from Mercer, the global consulting firm, states that workers age 34 and younger are demanding more flexibility in the benefits delivered by their employers, with 70% of that group saying they would like to reduce the value of some benefits while increasing the value of others. For example, they ranked retirement benefits ahead of low healthcare costs on the survey.

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Results from Mercer's survey on benefits