Loyalty on the decline among employees

Posted on: Wednesday, August 03, 2011

A new study appears to indicate workers don't have the same kind of loyalty for their employer that they used to.

According to insurance provider MetLife and its annual study, employees' allegiance to their current company dropped to 44 percent last year. That's down significantly from 2010, when 62 percent said they were committed to their employer.

Jeffrey Tulloch, vice president of business for the insurance giant, said this should be a concern for small businessowners.

"The MetLife study is a reality check for smaller employers who may still be viewing their workforce through rose-colored glasses," said Tulloch. "One area small businesses may overlook is whether their benefits programs are designed as strategically as they could be."

Compared to 2007, the study also indicated employers were offering fewer benefits to their employees in nearly every category surveyed, the exception being vision.

The study concluded that because loyalty is down, it may pose a problem down the line for small businesses when it comes to keeping the workers they have.

Small businesses often serve as agents' most profitable insurance leads. Making them aware of these retention issues may help them determine the plan for their employees.

Posted In: Insurance News, Leads

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