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Aligning with employee needs may produce better talent-related outcomes for employers, and it could be less complex and costly than anticipated.

Further detailed in our articles on well-being, financial wellness and retirement planning around the world (which highlight the latest findings from the Fidelity Global Sentiment Survey 2022), workers and their employers have a lot on their minds.

But in this world of fast paced change, workers have remained consistent in the kinds of support they want from their employer compared to when we asked the same questions last year.

Type of support desired from employer Percentage of workers who desire the support
2022 2021
Work/life balance 33% 33%
Mental health & well-being support 26% 26%
Phased retirement 23% n/a
Physical health 21% 23%
Retirement planning education 20% 21%
Opportunities for ongoing learning 19% n/a
Financial planning education 17% 18%
Investing education  14% 17%

Source: The Fidelity Global Sentiment Survey, 2022.

Suggested actions employers may consider to better meet the needs of their employees

There is a sizeable number of employees who turn to their employers for help; let’s explore how employers might support employee needs further.

1. Start with the fundamentals. Employers may feel pressured to offer an endless stream of benefits, but that approach isn’t supported by previous research and what we learned from our Global Employer Survey. Employees are straightforward in what they want to see their employers offer as part of a benefits and compensation package. It's noteworthy that employees don't see these types of benefit offerings as differentiators but as fundamental expectations for any employer.

Most important part of a compensation package (after salary or wage) Workers who agree
Bonus 32%
Pension and/or retirement savings plan 30%
Annual leave 29%
Workplace flexibility 27%
Private medical insurance 25%

Source: The Fidelity Global Sentiment Survey, 2022.

2. Put the money where it has the most impact. With rising inflation, tightening budgets and increasing complexity in the benefits landscape, employers may benefit from a data-driven approach when considering how compensation and benefit priorities impact talent.

Employers may be able to curb employee turnover with specific actions that align with employee values. Depending on where your company is headquartered, different efforts may yield more positive outcomes.

Value Employers with success in recruiting do the following: Employers with success in retaining do the following:
Fostering a sense of diversity and inclusion Have a diversity and inclusion office and/or head of diversity and inclusion Have a diversity and inclusion office and/or head of diversity and inclusion.
Offering benefits that matter to employees Enhanced compensation (for employees in the US) Enhanced benefits in evidence-based ways - flexibility, time away, health (for employees in the US) and insurance (globally)
Bolstering employee well-being Have a broader definition of what it means to be ‘financially well’

Feel more responsible for their employees’ mental health

Source: The Fidelity Global Employer Survey, 2022.

3. Position your benefits and compensation strategy to your workforce more holistically with a Total Rewards Strategy. With more than half of workers stating that meeting their immediate needs is causing them some or a lot of stress, many workers might see the appeal of considering a larger salary at another company. However, by leveraging a Total Rewards Strategy to highlight the true value of total compensation, employers may be able to demonstrate that a higher salary may not necessarily mean more take-home money if benefits are more expensive or, in some cases, not provided elsewhere.


4. Think differently about compensation with a company stock plan. As companies continue to compete for top talent, employers may benefit from positioning their company stock plan as a unique differentiator. This could potentially play a key role in attraction and retention strategies from both a compensation and company culture perspective. A company stock plan may help employers to potentially improve and/or restructure compensation packages at a time when inflationary pressures are significantly impacting salaries. From an employee perspective, we’ve found that a company stock plan is viewed as an attractive benefit and a tax-efficient way to invest and save. A company stock plan may also have positive cultural impacts, potentially providing employees with a sense of ownership, which may contribute to higher loyalty and productivity.


Source: The Evolving Role of Company Stock within Employee Benefit Plans, Fidelity Investments.

With record-level rates of inflation and local market factors, maintaining a workplace that attracts, supports, and retains talent may seem like an expensive, complex endeavour, but it doesn’t have to be. By taking into consideration the potential actions highlighted in Financial Wellness around the World, Retirement Planning around the World, and Well-being around the World, as well as the information above, employers may be able to attain meaningful and sustainable talent outcomes for their companies and their workforce.

Important information:

The data collection, research, and analysis for the above markets regarding global employees was completed in partnership with Opinium, a strategic insight agency. Data collection took place between August 2022 and September 2022. The sample consisted of respondents with the following qualifying conditions: Aged 20–75; Either they or their partner were employed full-time or part-time; A minimum household income of: Australia: A$45,000 annually; China: RMB 5,000 monthly; Hong Kong: HK$15,000 monthly; USA: US$20,000 annually; Canada: CA$30,000 annually; UK: £10,000 annually; Mexico: $4,500 MXN monthly; Ireland: €20,000 annually; Germany: €20,000 annually; Netherlands: €20,000 annually; France: €20,000 annually; Italy: €15,000 annually; Spain: €15,000 annually; Japan: 3m yen annually; Brazil: R$1,501 monthly; India: 55,001 annually; Singapore: SGD$2,000 monthly.

The data collection, research, and analysis for the above markets regarding multinational firms, also known as global employers, was completed in partnership with Dynata, a third-party market research company, using their global research panel in conjunction with their partner vendors. Data collection took place between 14 December 2021 to 12 January 2022.

This information is intended to be educational and is not tailored to the investment needs of any specific investor. This information does not constitute investment advice and should not be used as the basis for any investment decision, nor should it be treated as a recommendation for any investment or action. Fidelity refers to one or both of Fidelity International and Fidelity Investments. Fidelity International and Fidelity Investments are separate companies that operate in different jurisdictions through their subsidiaries and affiliates. All trademarks are the property of their respective owners.

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