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January 2016
© 2016 Willis Towers Watson. All rights reserved.
Results from the 2015/2016 Global Benefits
Attitudes Survey...
2015/2016 Global Benefits Attitudes Survey
Survey of nearly 30,000 employees in 19 countries
Americas Responses Europe Res...
Lessons learned from the survey
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis...
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers...
A focus on addressing financial security
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. F...
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers...
47%
37%
46%
52%
48%
47%
27%
24%
30%
17%
20%
25%
11%
16%
7%
12%
10%
10%
15%
23%
17%
19%
22%
18%
Asia Pacific
Latin America
...
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers...
A growing focus on retirement security
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For...
What rewards do employees want?
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis...
What benefits do employees want?
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willi...
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers...
Issues employees face tend to cluster
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For ...
Why does it matter? Business Impact of poor health and stress
© 2016 Willis Towers Watson. All rights reserved. Proprietar...
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers...
Despite strong commitment from employers….
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential....
45%
40%
23%
28%
31%
36%
48%
49%
56%
54%
56%
52%
7%
11%
21%
18%
13%
12%
Asia Pacific
Latin America
Europe
Canada
US
Global
...
On-board employees are more likely to participate in activities
© 2016 Willis Towers Watson. All rights reserved. Propriet...
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers...
Employees are on-board to employer intervention
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confiden...
Further information
© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Wats...
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Global Benefits Attitudes Survey 2016 Highlights

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The Global Benefit Attitudes Survey provides insights from nearly 30,000 employees in 19 countries on health and retirement issues.

Published in: Economy & Finance

Global Benefits Attitudes Survey 2016 Highlights

  1. 1. January 2016 © 2016 Willis Towers Watson. All rights reserved. Results from the 2015/2016 Global Benefits Attitudes Survey Overview of key findings
  2. 2. 2015/2016 Global Benefits Attitudes Survey Survey of nearly 30,000 employees in 19 countries Americas Responses Europe Responses Asia Pacific Responses Argentina 1,508 France 1,007 Australia 1,006 Brazil 1,004 Germany 2,281 China 2,005 Chile 1,005 Ireland 758 India 2,003 Colombia 1,001 Netherlands 1,006 Japan 2,002 Mexico 1,011 Turkey 1,031 Philippines 1,010 Canada 2,013 United Kingdom 1,895 South Korea 1,000 United States 5,083 For over a decade Willis Towers Watson has surveyed employees about health and retirement. This survey fielded from June to August 2015 and is the second globally consistent survey. It includes representative samples at non-governmental employers. © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 2
  3. 3. Lessons learned from the survey © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 3 Key findings 1. Financial situation improves but long-term financial worries linger 2. Employees feel vulnerable, want security and are willing to pay for it 3. Employees’ issues are multi-faceted: health, financial and engagement issues tend to cluster 4. The business case: Health and financial issues affect business results through drag on productivity 5. Barriers: Weak engagement on health and financial issues is strongly linked to broader work experience 6. The role of the employer: Employees are in favor of employers taking an active role in their health and in retirement saving, but are less certain on financial issues. Employers need to build brand permission first.
  4. 4. © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 4 Lessons from the survey 1. Long-term financial worries linger
  5. 5. A focus on addressing financial security © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 5 Sizeable numbers of employees concerned on the level of debt they face Canada 67% Latin America 76% Europe 60% Asia Pacific 59% Financial security has become a more important issue for me over the last two or three years US 74% Global 31% US 36% Canada 35% Europe 24% Latin America 43% Asia Pacific 26% I often worry about how much debt I have Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees only.
  6. 6. © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 6 53% 34% 50% 31% 47% 25% 58% 39% 53% 32% 54% 34% 0% 10% 20% 30% 40% 50% 60% 70% Lack of confidence in having sufficient retirement resources 25 years into retirement Lack of confidence in having sufficient retirement resources 15 years into retirement Global US Canada Europe Latin America Asia Pacific My generation is likely to be much worse off in retirement than my parents’ generation are/were Note: Percentage agree or strongly agree, not at all confident or not too confident Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees only. The long-term outlook is pessimistic … Half of employees are not confident of having enough resources to afford long spells in retirement Global 66% US 76% Canada 74% Europe 76% Latin America 70% Asia Pacific 51%
  7. 7. 47% 37% 46% 52% 48% 47% 27% 24% 30% 17% 20% 25% 11% 16% 7% 12% 10% 10% 15% 23% 17% 19% 22% 18% Asia Pacific Latin America Europe Canada US Global Unworried Future worries Current worries Struggling Financial worries © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 7 We define four types of employees according to their financial worries Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees only. Unworried Employees are not worried either for the short- or long-term Future worries Employees experiencing long-term worries only Current worries Employees experiencing short-term worries only Struggling Employees worried about both, the short- and long-term Profile of employees
  8. 8. © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 8 Employees desire security and are willing to pay for it Lesson 2
  9. 9. A growing focus on retirement security © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 9 And employees are looking to their employers for a lead Canada 65% Latin America 62% Europe 52% Asia Pacific 51% Retirement security has become a more important issue for me over the last two or three years USA 70% Source: 2015/2016 Global Benefits Attitudes Survey Sample: Members of a retirement plan. My retirement plan is the primary way I save for retirement 2013 2015 Change Global 65% 72% +7 US 74% 79% +5 Canada 55% 59% +4 Latin Am. 66% 67% +1 Europe 54% 67% +13 Asia Pac 62% 70% +8 I would be willing to pay a higher amount out of my pay each month to ensure I have a guaranteed retirement benefit 2013 2015 Change Global 58% 56% -2 US 62% 63% +1 Canada 65% 65% -1 Latin Am. 66% 69% +3 Europe 45% 53% +8 Asia Pac 56% 50% -6
  10. 10. What rewards do employees want? © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 10 A focus on core pay and benefits Nearly 3-in-10 prefer superior retirement or health benefits to pay and bonus. Almost 3-in-5 would prefer some alternative to pay and bonus. 42% 42% 37% 44% 38% 42% 24% 23% 29% 25% 22% 23% 7% 11% 9% 3% 6% 5% 28% 24% 25% 28% 35% 30% Global US Canada Europe Latin America Asia Pacific From the following list, please rank the areas you would choose if offered a choice by your employer. Percentage top priority. Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees only. Pay and Bonus Getting larger base pay increases Getting larger bonus opportunity Retirement Getting a more generous contribution to a retirement plan Having a guaranteed retirement benefit that does not alter with financial markets Health More generous health care plan Other Getting more paid time off per year Having greater opportunity for flexible work- life arrangements Having greater opportunities for future career advancement Having the option to purchase a wider variety of benefits Pay and bonus Retirement Health Other
  11. 11. What benefits do employees want? © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 11 A focus on ‘traditional’ benefits … but interest in broader products Average allocation of benefits budget (%) 32% 32% 32% 37% 25% 31% 18% 29% 22% 9% 21% 13% 12% 9% 11% 13% 13% 14% 10% 7% 8% 9% 11% 12% 12% 12% 16% 12% 13% 11% 8% 5% 5% 7% 9% 9% 9% 6% 6% 11% 9% 10% Global US Canada Europe Latin America Asia Pacific Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees only. Retirement plan Health care plan Life and disability Financial protection Medical protection Health and well-being Employee discounts Retirement and health Lifestyle benefits Insurance and income protection If your employer provided you with an allowance to spend on a variety of benefits, where do you think you would spend your money? a) Retirement plan b) Health care plan c) Life and disability insurance, income protection d) Financial protection (critical illness insurance, other insurance) e) Medical protection (dental and vision/optical plans) f) Well-being programs (gym discounts, healthy eating courses, onsite services) g) Employee discounts
  12. 12. © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 12 Health, financial and engagement issues tend to cluster … and affect business results via the drag on productivity Lesson 3 and 4
  13. 13. Issues employees face tend to cluster © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 13 Links between health, stress, and financial worries Employees who are struggling financially report higher levels of stress. Employees who are struggling financially tend to be in poorer health. 26% 21% 24% 26% 23% 30% 50% 41% 49% 47% 32% 59% 54% 49% 54% 53% 49% 59% 68% 66% 66% 72% 50% 73% Global US Canada Europe Latin America Asia Pacific Unworried Future worries Current worries Struggling 14% 4% 7% 14% 5% 25% 29% 11% 13% 22% 9% 48% 13% 6% 9% 17% 7% 18% 32% 20% 16% 34% 15% 52% Global US Canada Europe Latin America Asia Pacific Unworried Future worries Current worries Struggling Financial worries Financial worries Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees only. % High stress % Poor health
  14. 14. Why does it matter? Business Impact of poor health and stress © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 14 Links to absence and productivity Higher levels of workplace stress results in higher absenteeism. 2.6 1.9 2.8 1.5 3.8 3.02.9 2.4 2.6 2.4 4.4 2.8 4.1 3.3 4.1 2.6 6.2 3.8 Global US Canada Latin America Europe Asia Pacific Workplace stress Low Moderate High Healthy employees are more engaged. Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees only. 24% 25% 40% 31% 25% 23% 37% 38% 36% 39% 33% 39% 50% 47% 47% 57% 43% 56% Global US Canada Latin America Europe Asia Pacific Poor health Good health Very good health Health status FTE days lost to absence % Highly engaged
  15. 15. © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 15 There is weak engagement on health issues Lesson 5
  16. 16. Despite strong commitment from employers…. © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 16 Employees have not connected to employer initiatives The initiatives offered by my employer have encouraged me to live a healthier lifestyle. Canada 25% Latin America 33% Europe 19% Asia Pacific 36% USA 33% Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees with employer-based health care.
  17. 17. 45% 40% 23% 28% 31% 36% 48% 49% 56% 54% 56% 52% 7% 11% 21% 18% 13% 12% Asia Pacific Latin America Europe Canada US Global Attitude toward employer involvement in health and well-being © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 17 Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees with employer-based health care. We define three employee types On-board Support the role of the employer in encouraging health and their initiatives and are comfortable with targeted messages Persuadable Positive to some employer involvement but sceptical about the degree to which the employer should move beyond Resistant Do not support the role of employers in health and well-being and are very uncomfortable with targeted messages On-board Persuadable Resistant
  18. 18. On-board employees are more likely to participate in activities © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 18 Building trust is key to developing on-board employees Participation in well-being initiatives via employer or health plan On-board Persuadable Resistant Global 24% 31% 58% US 17% 30% 60% Canada 25% 33% 60% Europe 29% 32% 55% Latin America 22% 30% 49% Asia Pacific 26% 31% 58% I don’t trust my employer to be involved in my health. 32% 29% 21% 15% 31% 38% 19% 17% 16% 9% 25% 24% 15% 10% 12% 11% 26% 24% Global US Canada Europe Latin America Asia Pacific Resistant workers are 2x as likely to have concerns on their employer having a role in their health. % Agree / Strongly agree Source: 2015/2016 Global Benefits Attitudes Survey Sample: All employees. Except US and Canada, full-time employees with employer-based health care. . On-board Persuadable Resistant
  19. 19. © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 19 What is the role of the employer? Lesson 6
  20. 20. Employees are on-board to employer intervention © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 20 Positive on health and retirement but apprehensive on personal financial matters Strongly prefer Prefer Slightly prefer Neutral Slightly prefer Prefer Strongly prefer Retirement Employers should actively encourage employees to save for retirement Employers should provide a basic retirement plan and let employees do the rest Health Employers should take an active role in encouraging their employees to live a healthy lifestyle It is not the role of an employer to encourage their employees to live a healthy lifestyle Financial issues Employers should take an active role in encouraging their employees to better manage their finances It is not the role of an employer to encourage their employees to better manage their household finances Targeted messages I am comfortable if my employer sends targeted messages to employees with financial issues It is not the role of an employer to send targeted information to employees who are not saving enough Americas EuropeAsia Pacific USA Canada Europe Latin America Asia Pacific Source: 2015/2016 Global Benefits Attitudes Survey. Sample: All employees. Except US and Canada, full-time employees only.
  21. 21. Further information © 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 21 For more information please contact us Follow us on social media #WTWgbas16

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