65% employees cite financial security as top concern: Study

CHENNAI: Sixty five per cent of employees surveyed across all sectors have cited financial security as their top concern in the case of premature death.

"65 per cent of corporate employees cite financial security as their topmost concern in the case of premature death," the PNB MetLife Employee Benefits Trend Study said.

PNB MetLife is a JV between MetLife International Holdings and Punjab National Bank, Jammu and Kashmir Bank Ltd and other private investors.

The study was conducted across 2,432 employees and 323 personnel between January and March 2015, PNB Metlife, Deputy Director (Employee Benefits), Hemant Khera told reporters.

While 73 per cent of employees seek life insurance as a key benefit, "only 30 per cent of employers offer the same. There are similar issues in health care and information technology sectors".

Sharing some salient findings of the nationwide study, he said, "Fifty seven per cent of employees were concerned about lack of comfortable lifestyle post-retirement".

However on a global scale, 59 per cent of Indian employees were concerned of having enough money to live comfortably post-retirement.

The same stands 64 per cent in United Kingdom, 52 per cent in Poland, 80 per cent in Russia and 78 per cent in United Arab Emirates.

On retaining existing employees, 70 per cent of employers feel highly challenged to retain employees while 46 per cent of companies expressed concern that "shortage of talent" would affect their business in the next 12 months.