Younger Workers Would Swap Pay for Benefits, Survey Says

Posted by CFR Multimedia
CFR Multimedia
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on Thursday, 12 April 2012
in Benefits Buzz

A growing number of workers, particularly those under 40, would be willing to give up some pay for more secure retirement and more generous health benefits, according to a recent Towers Watson survey. Also:

  • Sixty-three percent of younger employees and 40 percent of all employees fear their retirement benefits will be cut in the next two years.
  • Even more are concerned about higher out-of-pocket health care costs and copays in the next two years.
    • Rising health care costs was the top reason employees are concerned about retirement security (64 percent) .

Clearly, your health care and retirement benefits package are more important than ever to current and potential employees. Make sure you communicate your health and retirement benefits effectively, so employees know the full value available to them through your plans.

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