How the Economy is Changing Employee Behavior 5 Years ago
The Guardian Life Insurance Company recently released it's survey, Benefits & Behavior: Spotlight on Benefits and the Economy.
It reveals how much the economy is influencing behavior and lifestyle decisions on the part of employees with regard to benefits.
Employees say they're afraid to take vacation time (18%) and are not taking or cutting short leaves for medical or other reasons (16%). Some are returning early from maternity leave or other leave of absence (11%), while others who are pregnant or ill are afraid to take time off (10%). Some even say they're postponing a divorce to preserve coverage (8%) or accelerating a marriage to obtain benefits coverage (6%).
Nearly 30% of full-time employees surveyed said they would look for another job if their employer eliminated medical insurance. And, 57% said they would be willing to take a salary cut or do without a raise or bonus in order to maintain current coverage levels.
Of much surprise, when asked to choose between layoffs or eliminating their health benefits if their employer had to take extreme measures to stay in business, 46% of employees said they would opt for layoffs (they are assuming they would survive the cuts), and 44% would elect to give up their health benefits.