Principal® Survey Reveals the Effects of Caregiving on Work and Employee Retention
Principal Financial Group's recent survey reveals evolving employee benefits and their impact on retention, especially for caregivers. Key findings include:
1. 24% of workers caring for both a child and dependent adult are more likely to consider leaving their job.
2. 22% of 'sandwich generation' caregivers have left previous jobs due to caregiving responsibilities.
3. Caregivers value life insurance and paid family/medical leave the most.
4. 64% of employees see life insurance as 'extremely valuable'.
5. Higher job retention is associated with more benefit options.
6. 69% of businesses report growing financial health, but concerns about inflation and the economy persist.
7. 55% of businesses are expanding staff, and 70% of employees are seeing wage increases.
The survey highlights the importance of understanding employee needs and effective benefits communication.
Un recente sondaggio di Principal Financial Group rivela l'evoluzione dei benefici per i dipendenti e il loro impatto sulla retention, in particolare per coloro che si prendono cura degli altri. I risultati chiave includono:
1. Il 24% dei lavoratori che si prendono cura sia di un bambino che di un adulto dipendente sono più propensi a considerare di lasciare il proprio lavoro.
2. Il 22% dei caregiver della 'generazione sandwich' ha lasciato precedenti lavori a causa delle responsabilità di caregiving.
3. I caregiver valutano l'assicurazione sulla vita e il congedo retribuito per motivi familiari/medici come i benefici più importanti.
4. Il 64% dei dipendenti considera l'assicurazione sulla vita come 'estremamente preziosa'.
5. Una maggiore retention lavorativa è associata a un numero maggiore di opzioni di beneficio.
6. Il 69% delle imprese riporta una crescente salute finanziaria, ma persistono preoccupazioni riguardo all'inflazione e all'economia.
7. Il 55% delle aziende sta ampliando il personale e il 70% dei dipendenti sta vedendo aumenti salariali.
Il sondaggio mette in evidenza l'importanza di comprendere le esigenze dei dipendenti e di una comunicazione efficace dei benefici.
Una encuesta reciente de Principal Financial Group revela la evolución de los beneficios para empleados y su impacto en la retención, especialmente para quienes cuidan a otros. Los hallazgos clave incluyen:
1. El 24% de los trabajadores que cuidan tanto a un niño como a un adulto dependiente son más propensos a considerar dejar su trabajo.
2. El 22% de los cuidadores de la 'generación sándwich' han dejado trabajos anteriores debido a responsabilidades de cuidado.
3. Los cuidadores valoran el seguro de vida y las licencias familiares/médicas pagadas como los beneficios más importantes.
4. El 64% de los empleados ve el seguro de vida como 'extremadamente valioso'.
5. Una mayor retención laboral está asociada con más opciones de beneficios.
6. El 69% de las empresas reporta una creciente salud financiera, pero persisten las preocupaciones sobre la inflación y la economía.
7. El 55% de las empresas está expandiendo su personal, y el 70% de los empleados está viendo aumentos salariales.
La encuesta destaca la importancia de comprender las necesidades de los empleados y una comunicación efectiva de los beneficios.
Principal Financial Group의 최근 설문조사는 변화하는 직원 복지와 그것이 유지에 미치는 영향을 보여줍니다, 특히 돌보는 사람들에게. 주요 발견 사항은 다음과 같습니다:
1. 근로자의 24%가 아동과 의존 성인을 동시에 돌보는 경우, 직장을 떠나는 것을 고려할 가능성이 더 큽니다.
2. '샌드위치 세대'의 돌보미 중 22%가 돌봄 책임 때문에 이전 직장을 떠났습니다.
3. 돌보미는 생명 보험 및 유급 가족/의료 휴가를 가장 중요하게 생각합니다.
4. 64%의 직원이 생명 보험을 '상당히 가치 있다고' 평가합니다.
5. 더 많은 복지 옵션은 높은 직장 유지와 관련이 있습니다.
6. 69%의 기업가 재정적 건강이 성장하고 있다고 보고했지만, 인플레이션과 경제에 대한 우려는 여전히 존재합니다.
7. 55%의 기업가 직원을 확장하고 있으며, 70%의 직원이 급여 인상을 받고 있습니다.
이 설문조사는 직원의 요구를 이해하고 효과적인 복지 소통의 중요성을 강조합니다.
Une récente enquête de Principal Financial Group révèle l'évolution des avantages pour les employés et leur impact sur la fidélisation, en particulier pour les aidants. Les résultats clés incluent :
1. 24 % des travailleurs prenant soin à la fois d'un enfant et d'un adulte dépendant sont plus susceptibles d'envisager de quitter leur emploi.
2. 22 % des aidants de la 'génération sandwich' ont quitté des emplois précédents en raison de responsabilités de soins.
3. Les aidants attachent le plus d'importance à l'assurance vie et aux congés familiaux/médicaux payés.
4. 64 % des employés considèrent l'assurance vie comme 'extrêmement précieuse'.
5. Une meilleure rétention des employés est associée à plus d'options de prestations.
6. 69 % des entreprises rapportent une santé financière croissante, mais des préoccupations concernant l'inflation et l'économie persistent.
7. 55 % des entreprises étendent leur personnel, et 70 % des employés constatent des augmentations de salaire.
L'enquête souligne l'importance de comprendre les besoins des employés et de communiquer efficacement sur les avantages.
Eine aktuelle Umfrage der Principal Financial Group zeigt die Entwicklung der Mitarbeiterbenefits und deren Einfluss auf die Bindung, insbesondere für Pflegekräfte. Zu den wichtigsten Ergebnissen gehören:
1. 24% der Arbeiter, die sowohl ein Kind als auch einen abhängigen Erwachsenen betreuen, ziehen eher einen Jobwechsel in Betracht.
2. 22% der 'Sandwich-Generation'-Pflegekräfte haben frühere Jobs aufgrund von Pflegeverantwortungen aufgegeben.
3. Pflegekräfte schätzen Lebensversicherung und bezahlte Familien-/Krankenstände am meisten.
4. 64% der Mitarbeiter betrachten Lebensversicherung als 'äußerst wertvoll'.
5. Höhere Mitarbeiterbindung ist mit einer größeren Auswahl an Vorteilen verbunden.
6. 69% der Unternehmen berichten von einer wachsenden finanziellen Gesundheit, jedoch bestehen weiterhin Bedenken bezüglich Inflation und Wirtschaft.
7. 55% der Unternehmen erweitern ihr Personal, und 70% der Mitarbeiter sehen Lohnerhöhungen.
Die Umfrage hebt die Bedeutung hervor, die Bedürfnisse der Mitarbeiter zu verstehen und die Vorteile effektiv zu kommunizieren.
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New research finds employees value a variety of benefit options, especially those who identify as caregivers
Caregiving impacts on employee retention
Family caregivers make up approximately
Caregivers across all categories are more likely to be concerned about feeling burnt out at work, their own mental health and well-being, and their caregiving responsibilities. Among those currently caring for a child, adult, or both, benefits such as life insurance and paid family and medical leave are the most valued.
“There are unique opportunities for employers to support those who are caregiving,” said Amy Friedrich, president of Benefits and Protection at Principal®. “It starts with understanding your employee population and their wants and needs in a benefits program. With over half (
Employees value benefits in addition to healthcare and retirement
Employees place a high value on benefits beyond health insurance, paid time off, and retirement savings plans. Specifically, employees see life insurance (
The survey also finds that
“It’s probably not surprising, but communication is essential to ensuring employees understand the benefits employers are offering,” said Friedrich. “For small-to-midsized businesses with no HR department, it can be challenging to effectively communicate these benefits. Being intentional about the ways you communicate, and how often, is an important step in your benefits program.”
Business owners seeing growth and expansion but identify rising concerns around inflation, the economy
While most businesses (
Even amid economic concerns, the outlook for hiring and retention has stayed positive. Businesses continue to expand staff (
Business owners are optimistic about future growth yet continue to flag interest rates as a barrier. According to the report,
See all results and insights from the latest Principal Financial Well-Being IndexSM (PDF).
About the Principal Financial Well-Being IndexSM
The Principal Financial Well-Being IndexSM surveys business owners, decision makers and business leaders aged 21 and over who work at companies with 2-10,000 employees and offer either health insurance or retirement as an employee benefit. The nation-wide survey, commissioned since 2012, examines the financial well-being of American workers and business employers. In 2020, the Well-Being Index was transformed from an annual survey to a regular pulse, offering three waves, revisiting questions and measuring sentiment regarding timely issues in the small and midsized business marketplace. In the first pulse of the Well-Being Index in 2022, the employee audience was added to the survey to compare and contrast key sentiment from employers. The survey was commissioned by Principal® and conducted online by Dynata from June 28 – July 10, 2024, with a total of 500 business owners, decision makers, and business leader participants and a total of 500 employee participants. The research report focuses on providing a holistic perspective on key trends and timely issues in the small and medium business market.
About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial company with nearly 20,000 employees¹ passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we're helping more than 62 million customers¹ plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of the 2023 World's Most Ethical Companies® by Ethisphere², a member of the Bloomberg Gender Equality Index, and a "Best Places to Work in Money Management³." Learn more about Principal and our commitment to building a better future at principal.com.
¹ As of March 31, 2024
² Ethisphere, 2024
³ Pensions & Investments, 2023
References:
¹ Lerner, D. (2022). Invisible Overtime: What employers need to know about caregivers. https://rosalynncarter.org/wp-content/uploads/2022/03/Invisible-Overtime-White-Paper.pdf
Dynata is not an affiliate of any company of the Principal Financial Group®
Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/-dealers. Referenced companies are members of the Principal Financial Group®,
© 2024 Principal Financial Services,
View source version on businesswire.com: https://www.businesswire.com/news/home/20240910702172/en/
Lauren Peed, peed.lauren@principal.com 515-878-1164
Source: Principal Financial Group
FAQ
What percentage of workers caring for both a child and dependent adult are likely to leave their job, according to the Principal Financial Well-Being Index?
How many 'sandwich generation' caregivers have left a previous job due to caregiving responsibilities, as per the PFG survey?
What benefits do caregivers value most, according to the Principal Financial Group study?
What percentage of employees consider life insurance 'extremely valuable' in the PFG survey?
How many businesses report growing financial health in the Principal Financial Well-Being Index?
