1、2017 Global Benefits Attitudes Survey The employee voice: more security, more flexibility, more choice 2017 Global Benefits Attitudes Survey The employee voice: more security, more flexibility, more choice Contents 1. Key findings .2 2. About the survey .3 3. The changing benefit landscape .4 4. Und

2、er pressure: employees health and finances .6 5. The benefit deal: the employee perspective .14 6. Rethinking the benefit deal .17 7. Summary .28 1 2017 Global Benefits Attitudes Survey 2 2017 Global Benefits Attitudes Survey Changing economic and workplace dynamics are driving employers to redefine

3、 the benefit programs they offer to their employees. Meanwhile, employees are responding to the same developments and conditions, albeit from a different perspective. Todays employees are saying: “Understand my needs,” “I want more security” and “give me more choices and flexibility.” As many employ

4、ers review their benefit programs, the Willis Towers Watson Global Benefits Attitudes Survey (GBAS) seeks to understand the employee perspective and answer the question: What benefits do employees need and value most? 1. Key findings Key findings include: Benefits matter more than ever. Employees lo

5、ng-standing desire for greater security continues to intensify. Employees particularly younger employees want more benefit choices. Those with choice and flexibility today are twice as likely to feel their benefit program meets their needs. In many countries, employees are increasingly concerned abo

6、ut their finances, both immediate and long term. More than one-fifth of employees expect to still be working at age 70 or later. Over 60% say their employer retirement plan is their primary means of saving for retirement. Employees look to their employers for support in improving their health and we

7、ll-being, and becoming more financially secure. Although companies are responding with programs that support physical, emotional, financial and social well-being, employees are lukewarm about what they have seen so far. Employee engagement in well-being programs remains low. Designing programs that

8、leverage the workplace environment and promote the use of new technologies is strongly linked to more positive attitudes about a companys well-being efforts and to health engagement. 3 2017 Global Benefits Attitudes Survey For over a decade, Willis Towers Watson has been examining trends in employee

9、s attitudes toward their benefits across several countries. Since 2013, the surveys and analysis have been performed on a globally consistent basis, providing detailed insights that can guide employers in developing benefit programs that are both attractive to employees and cost effective. This late

10、st biennial edition of GBAS analyzes more than 31,000 employee responses in 22 markets, including representative samples from medium and large private-sector companies. This report represents a high-level summary of the survey results. The 2017 survey takes an in-depth look at the role of benefits i

11、n defining and differentiating todays employee value proposition. The analysis explores the extent to which benefits individually and collectively shape employees actions; how closely they are aligned with employees employment and lifestyle priorities; and their links to stress, absence, presenteeis

12、m1 and work engagement.2 The report focuses on four aspects of employee attitudes and how they affect the benefit deal: Benefit preferences Retirement expectations Financial well-being Health and well-being 2. About the survey Respondents from developing countries Total respondents: 11,866 Argentina

13、 .970 Brazil .990 Chile .993 China .1,996 Colombia .986 India .1,988 Mexico .994 South Africa .998 The Philippines .999 Turkey .952 Respondents from developed countries Total respondents: 19,374 Australia .1008 Canada .1,349 France .981 Germany .2,023 Hong Kong .985 Ireland .758 Japan .1,498 Singapo

14、re .988 The Netherlands .986 U.A.E. .992 U.K. .2,824 U.S. .4,982 Total number of respondents: 31,240 Respondents from developing countries Total respondents: 11,866 Argentina .970 Brazil .990 Chile .993 China .1,996 Colombia .986 India .1,988 Mexico .994 South Africa .998 The Philippines .999 Turkey

15、 .952 Total number of respondents: 31,240 Respondents from developing countries Total respondents: 11,866 Argentina .970 Brazil .990 Chile .993 China .1,996 Colombia .986 India .1,988 Mexico .994 South Africa .998 The Philippines .999 Turkey .952 Respondents from developed countries Total respondent

16、s: 19,374 Australia .1008 Canada .1,349 France .981 Germany .2,023 Hong Kong .985 Ireland .758 Japan .1,498 Singapore .988 The Netherlands .986 U.A.E. .992 U.K. .2,824 U.S. .4,982 Total number of respondents: 31,240 1 Presenteeism is when an employee is physically at work but not fully productive du

17、e to physical or mental health conditions, or to stress related to job, personal or financial matters. 2Work engagement (a measure we call sustainable engagement) is the intensity of employees connection to their organization, based on three core elements: (1) extent of employees discretionary effor

18、t committed to achieving work goals (being engaged), (2) an environment that supports productivity in multiple ways (being enabled), and (3) a work experience that promotes well-being (feeling energized). 4 2017 Global Benefits Attitudes Survey It has been a decade since the financial crisis started

19、 in the U.S. and then overwhelmed the global economy. Over the ensuing 10 years, global economic growth has generally remained moderate, leaving most countries somewhere short of full recovery and increasing the pressure on government finances, employer costs and household budgets alike. 3. The chan

20、ging benefit landscape 2. Rising health care costs: Escalating health care costs over the last decade far in excess of general inflation rates3 have prompted many employers to pass a larger share of cost and risk to employees through arrangements such as higher copayments and deductibles. 3. Tighten

21、ing of public purses: Aging populations and weak public finances have forced many governments to restrict or delay public retirement benefits, placing even greater pressure on private retirement saving. 4. Multi-generation workforce: An increasing number of older employees are delaying their retirem

22、ent because they cant afford to stop working, while millennials financial outlook is clouded by mounting student debt and high housing costs. These different financial priorities are leading to diverging preferences between young and old, challenging employers on how to satisfy everyone. 3Willis Tow

23、ers Watson Global Medical Trends Survey (2017). Together with shifting workforce demographics and the breakneck pace of technological advances, these forces have significantly altered the employee benefit landscape. Many of these forces have been brewing for decades, but today they are coming togeth

24、er to create an opening for employers to offer a new proposition. And ideas that were not technologically feasible or cost effective before can now be realized. We identify seven trends that are impacting employee benefits today: 1. Shift to defined contribution arrangements: As the cost and financi

25、al risk of maintaining defined benefit (DB) retirement plans became increasingly untenable, the investment and other risks inherent in securing a retirement income have been transferred to employees. Concurrently, the defined contribution (DC) funding approach is also filtering into health care prov

26、ision. It is becoming clear, however, that insufficient savings coupled with mediocre economic growth and low interest rates will not deliver the retirement income that many employers and employees had hoped for, prompting questions about how well the DC model is working. 5 2017 Global Benefits Atti

27、tudes Survey 5. Technological innovation: Changes to the ways most people shop and go about their daily lives are prompting them to expect similar innovation (online tools and apps) in their benefit experiences. Technology has reduced the costs of providing benefits and enabled greater benefit plan

28、integration and more choice. New delivery platforms are enabling employers to realize many ideas that have been percolating for decades (and to do so in a cost-effective, engaging way). 6. Focus on health and well-being: Rising rates of obesity and chronic conditions, and greater awareness of stress

29、 and other mental health issues have prompted employers to redouble their efforts to improve the health and well-being of their workforce. Many employers have added programs in some markets decades ago to help employees adopt healthier lifestyles, to hold the line on health care costs and to improve

30、 productivity. 7. Emergence of financial well-being: Employers are focusing more attention on financial insecurity and other workforce concerns, particularly the near-term financial challenges many employees are living with. Many companies intend to offer a wider selection of benefits and more optio

31、ns, including health, well-being and financial well-being initiatives, while remaining mindful of the potential for choice overload. Employers also plan to enhance employees benefit experience with more and better online tools and changes in the workplace to reinforce their strategy and connect with

32、 workers on a day-to-day basis.4 4See Willis Towers Watsons U.S. Best Practices in Health Care Survey (2017) and Regional Benefits Trends Survey (2017). Employers know that many of their employees are struggling and want to help. They are interested in expanding their benefit package and incorporati

33、ng a greater focus on employee well-being. 6 2017 Global Benefits Attitudes Survey Figure 1. Around three in 10 workers report severe stress, anxiety or depression within the last two years Sample: All employees. Except U.S. and Canada, full-time employees only. 4. Under pressure: employees health a

34、nd finances 0%10%20%30%40%50% Global North America Latin America Europe, Middle East and Africa (EMEA) Asia Pacifi c 27% 33% 32% 29% 21% Physical and emotional health In many developed countries, inactivity is a growing health challenge. According to the World Health Organization (WHO), between a qu

35、arter and a third of adults globally are not active enough, and this is having long-term effects on their health.5 Obesity rates and chronic conditions are increasingly prevalent around the world, and not just in rich countries. In response, employers are seeking physical health and well-being solut

36、ions for their workforces, both to reduce costs and in recognition of the links between health, well-being and productivity. While employees physical health has always been on employers radars, mental health and stress are receiving more attention of late. Mental health issues are widespread around

37、the world, with around three in 10 employees reporting they have suffered from severe stress, anxiety or depression in the last two years (Figure 1). Around half of employers have either introduced initiatives to reduce stress or are planning to do so.6 5See World Health Organizations Global Health

38、Observatory Data Repository, apps.who.int/gho/data/view.main.2482?lang=en 6See Willis Towers Watsons Regional Benefits Trends Survey (2017) Employers increasingly recognize mental health and stress among the biggest challenges to health and well-being in the workplace, and many are trying to find be

39、tter ways of reducing work-related stress. 7 2017 Global Benefits Attitudes Survey Short-term financial security Alongside this focus on physical and emotional health, employers increasingly recognize the stress that can arise from financial insecurity. This has contributed to financial well-being e

40、merging as a near-term priority for many employers, with many companies planning to offer or expand upon their current financial well-being initiatives.7 Recent trends suggest that these employer interventions cannot come soon enough. Financial satisfaction has taken a turn for the worse in most cou

41、ntries, reversing the gains enjoyed from 2013 to 2015 (Figure 2). Attitudes have deteriorated in most developed countries and in many developing markets as well. The U.S. presents a particularly gloomy picture, with financial satisfaction plunging by 13 percentage points between 2015 and 2017 from 48% to 35%. And deteriora