Consulting group Mercer popped the lids on the heads of about3,000 U.S. workers to see what was going on inside. Mercer wantedto know how they were feeling about their jobs in general,their compensation andbenefits, and their financial future.

Some of the results defied expectations.

For instance, employees apparently didn't begrudge theiremployers asking them to share the cost of benefits. And,despite the rebounding economy and higher wages that have beenhanded out as a result, folks generally didn't feel properlyrewarded for their role in the economic recovery.

There were three major outcomes from the study:

• Workers were bullish on benefits. “Even with employees beingasked to pay more for health care, benefits are highly valued and makeemployees feel appreciated,” Mercer said.

• They had concerns about retirement readiness. “Retirement plansare a valued part of the deal, but employees doubt their financialreadiness for retirement — especially when it concerns health careexpenses in retirement,” Mercer reported.

• There were talent challenges. “Base pay continues to be the mostimportant reward element across all age groups, but satisfactionwith it remains mixed. In addition, employees still see opportunityfor growth but don't feel their skills are particularly well-usedor developed by employer,” the study said.

Digging deeper into the data, Mercer saidtwo-thirds of respondents were satisfied with their health coverageat work and believed that health care today is affordable. But thatcould be about to change. Gazing five years into the future, only41% thought health coverage will be affordable then.

Six of 10 said they were strongly satisfied with theirretirement benefits. But they were worried about health insurancecoverage taking care of all their needs after they retire. One inthree said saving for health care expenses in retirement is a toppriority because they worry they won't have enough.

Base pay questions elicited some negative feedback. Althoughwages have been rising since the recession's end, 45% of thosesurveyed said they were not satisfied with their base pay. That'snot good, given the current battle for talent that's being waged inAmerica's corporate trenches. And 58% said they weren't happy withthe process for awarding bonuses.

Meanwhile, overall working conditions, including flexiblescheduling and location options, mattered greatly to youngerworkers.

“Workers ages 34 and younger are demanding more flexibility inthe benefits delivered by employers, with 70% of that group sayingthey would like to reduce the value of some benefits whileincreasing the value of others,” Mercer said. “They also rankretirement benefits ahead of low health care costs, but placecareer opportunities as second in importance behind base pay,compared to eighth in importance for the overall workforce.”

On another front, though, youths on the job registered greatersatisfaction than their elders. More than half thought their careeropportunities were just fine, compared to 45% of all thosesurveyed.

“Employees of all types continue to value benefits, with nine in10 saying they are just as important as getting paid,” GillianPrinton, senior partner in Mercer's Health & Benefits businesssaid.

“This is remarkable despite a marked shift toward greater costsharing with employees and a perception that benefits are lessrobust today than in the past. Combined with younger generationsseeking more flexible offerings, this study suggests we have anincreasingly benefit-savvy working population that is acceptingshared accountability but with grave concerns over affordability injust a few short years,” Printon said.