- Despite the conversations about ‘quiet quitting,’ 9 in 10 U.S.
workers say they aim to do their job well or go above and
beyond
- More than half of workers prefer to work in person one-to-four
days a week, value human connections
- Workers stressed about their household finances, affecting
productivity
New research from The Hartford, a leading provider of employee
benefits and absence management, found 84% U.S. workers are at
least somewhat happy at work and 92% aim to do their job well or go
above and beyond. However, burnout levels remain high as many
employers say their employees work long hours and are expected to
be available outside of normal working hours.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230517005808/en/
The Hartford's 2023 Future of Benefits
Study Infographic (Graphic: Business Wire)
“We are in a unique era in the world of work as employers and
workers navigate shifting workplace models to discover what will be
the new normal,” said Jonathan Bennett, head of Group Benefits at
The Hartford. “It is encouraging to see most workers are happy in
their jobs, but employers must take note of the burnout trend.
Companies that have benefits and programs in place to support the
personal and professional wellbeing of their employees will foster
a happy, healthy, and productive workforce that can help their
company thrive.”
The Hartford’s 2023 Future of Benefits Study, which polled U.S.
workers and human resource benefit decision-makers (employers)
found only 16% of U.S. workers indicate they are not very happy or
not at all happy at work, with the remaining 84% saying they are at
least somewhat happy (9% extremely, 31% very, 44% somewhat).
Despite the trending “quiet quitting” conversation, 92% of
workers say they get their work done well or go above and beyond
(49% and 43% respectively). Baby Boomers (52%) are more likely than
Gen X (41%), Millennials (42%) and Gen Z (36%) to say they go above
and beyond at work. However, 60% of U.S. workers are experiencing
some level of burnout at work as more than half of employers have
high expectations of their workers:
- 56% of employers say workers should always strive to go above
and beyond
- 57% of employers say workers at their company typically work
more than 40 hours a week and 55% of workers say they do
- 51% of employers say workers are expected to be available after
normal working hours and 34% of workers say they feel pressured to
be available
Although work-life balance is a common priority, there is a
disconnect between what other factors U.S. workers say make them
happy at work and what top actions employers are taking to make
employees happy. Aside from salary, the top three drivers of
happiness for U.S. workers are paid time off (37%), work-life
balance (29%) and a sense of accomplishment (27%). Employers are
focused on creating work-life balance (46%), providing good
employee benefits (43%), and improving company culture (39%).
Workers value human connections
As many employers continue to discuss what their future work
models may look like, U.S. workers see significant value in the
personal connections they form at work and most workers prefer some
degree of in-person work, which fosters this connectivity.
The Hartford’s national study found 69% of U.S. workers say
strong personal connections with co-workers are important and 67%
say they have these strong personal connections. Workplace location
influences these connections, with more in-person (71%) and hybrid
workers (67%) saying they have strong personal connections compared
to remote workers (59%).
Although more than half of employers (53%) believe employees at
their company would prefer to work remotely full-time if allowed,
only 21% of U.S. workers say this is their preference. One-quarter
of workers prefer being in a physical workplace full time and more
than half prefer to be in person one-to-four days a week. This
comes as nearly two-thirds of employers (63%) are requiring
employees to come into the physical workplace more often.
Financial stress impacts productivity
In today’s economic environment, U.S. workers continue to feel
stressed about their household finances and for some, it is
affecting their productivity at work. Three-quarters of U.S.
workers feel at least somewhat stressed about their household
finances, with 39% saying they feel very or extremely stressed.
One-third of workers do not feel secure about their household
financial situation, which is highest among Millennials (38%)
compared to Baby Boomers (29%), Gen X (31%) and Gen Z (28%).
The financial stress workers are experiencing is affecting
productivity in the workplace. Thirty percent of U.S. workers say
their financial health always or almost always negatively affects
their productivity at work. This is higher than the impacts of
mental health (24%) and physical health (18%) on productivity. U.S.
workers would welcome financial education offered by their
employer, with the top three topics being support for retirement
planning (57%), managing debt (38%) and establishing a savings plan
(33%).
The Hartford’s research demonstrates that employee benefits
remain important to support the overall wellness – financial,
mental, and physical health - of U.S. workers and in helping
employers attract and retain talent. Overall, most workers feel
positive about the benefits they are offered in the workplace and
influence their decision to stay in their job:
- 72% of U.S. workers say employee benefits offered through their
company have at least a moderate impact on their decision to stay
with their current company
- 79% of workers value the insurance benefits their company
offers
- 64% of workers trust their company is making the best decisions
about the benefits they make available, an increase from 59% in
2022
Despite the positive feelings about the benefits offered, most
employers (68%) feel their employees underutilize the benefits and
programs available to them. Additional benefits education could
help with nearly half (49%) of U.S. workers saying resources to
help them better understand which employee benefits would be best
for them would be very/extremely valuable.
For more information about The Hartford’s Group Benefits
offerings, visit www.thehartford.com/groupbenefits. For more
information about The Hartford’s 2023 Future of Benefits study,
visit www.thehartford.com/futureofbenefits.
Survey Methodology
The Hartford’s 2023 Future of Benefits Study was fielded Feb. 14
- Feb. 28, 2023 and included 500 employers and 1,100 U.S. workers.
The employers surveyed were HR professionals who manage/decide
employee benefits and U.S. workers surveyed were actively employed.
The margin of error is employer +/- 4% and U.S. worker +/-3% at a
95% confidence level. The generational breakdowns in The Hartford’s
2023 Future of Benefits Study are: 1997 to 2004 (ages 21-26) for
Gen Z; 1981 to 1996 (ages 27-42) for Millennials; 1967 to 1980
(ages 43-56) for Gen X; and 1955 to 1966 (ages 57-68) for Baby
Boomers.
About The Hartford
The Hartford is a leader in property and casualty insurance,
group benefits and mutual funds. With more than 200 years of
expertise, The Hartford is widely recognized for its service
excellence, sustainability practices, trust and integrity. More
information on the company and its financial performance is
available at https://www.thehartford.com.
The Hartford Financial Services Group, Inc., (NYSE: HIG)
operates through its subsidiaries under the brand name, The
Hartford, and is headquartered in Hartford, Connecticut. For
additional details, please read The Hartford’s legal notice.
HIG-E
Some of the statements in this release may be considered
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. We caution investors that these
forward-looking statements are not guarantees of future
performance, and actual results may differ materially. Investors
should consider the important risks and uncertainties that may
cause actual results to differ. These important risks and
uncertainties include those discussed in our 2022 Annual Report on
Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the
other filings we make with the Securities and Exchange Commission.
We assume no obligation to update this release, which speaks as of
the date issued.
From time to time, The Hartford may use its website and/or
social media outlets, such as Twitter and Facebook, to disseminate
material company information. Financial and other important
information regarding The Hartford is routinely accessible through
and posted on our website at https://ir.thehartford.com. In
addition, you may automatically receive email alerts and other
information about The Hartford when you enroll your email address
by visiting the “Email Alerts” section at
https://ir.thehartford.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230517005808/en/
Media: Michelle Symington 860-547-5385
michelle.symington@thehartford.com
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