Stronger Culture
Fostering Our Award‑Winning Culture
Being mutual guides our actions today, as it has throughout our history. We focus on the environmental, social, and governance factors that are material to our long-term success. Integration of these factors within our business drives long-term growth, aligns with our steadfast commitment to risk management, sparks innovation, and helps us build the culture and attract the talent we need to succeed in a changing world. We are committed to continuously advancing our sustainability approach and performance in support of our business.
MassMutual’s focus on mutuality extends to the people who drive our strategy forward every day. We take the long view in how we care for our employees as well, knowing that their well-being and professional growth enables our best work for our policyowners and customers.
We’re always looking ahead, excited for what new things we can do tomorrow, together. Our company culture shines through all that we do and is brought to life by our employees every day. We share a common language and understanding of what it means to be part of MassMutual: focus on the customer, act with integrity, value people, work collaboratively, and achieve results. Our ethos of interdependence has created an environment where people rely on each other and feel that they’re part of something bigger than themselves.
Our culture is guided by our commitment to sustainability and mutuality, which is overseen by a company-wide sustainability strategy. Learn more about our efforts to build workforce culture and engage with all stakeholders in our sustainability report.
At MassMutual we…
Providing a Flexible Workplace That Meets the Needs of All Employees
MassMutual’s flexible workplace approach combines the importance of connecting in person and the flexibility of working remotely. Our hybrid model puts collaboration first with employees coming in at least three days per week to our spectacular campus settings and also enjoying the added flexibility of remote Fridays, company-wide remote weeks and a bank of flexible remote weeks to use throughout the year.
$7.7 million reimbursed to over 6,500 employees via Well-Being Wallet in 2023
Elevating Our Employees’ Experience with Holistic Benefits
At MassMutual, we are committed to providing holistic, flexible benefits that fit the changing needs of our workforce, meeting their diverse needs at every stage of life. In 2023, we continued to enrich the benefits offered to employees, promoting wellness across all aspects of health and enabling them to opt in to the benefits that are most meaningful to them.
Expanding Support for Caregiving and Mental Well-Being
As individuals and as a company, we’re interconnected: we all do better when each of us has the support we need to face life’s challenges. That’s why we expanded our range of mental health solutions in 2023, including fast access to high-quality providers and services for employees and members of their household. We quadrupled caregiver leave to assist employees with the responsibility of caring for loved ones, and renamed what were formerly referred to as “occasional sick days” to “take care days,” signifying the flexibility and autonomy that employees have to use their time off however they see fit. We also added access to a dedicated and diverse team of care coordinators that offer one-on-one, specialized health advocacy and navigation support tailored specifically to Black/African American and LGBTQ+ employees enrolled in a MassMutual medical plan.
Encouraging Employees to Choose What Works Best for Them
It’s important to both MassMutual and our employees that benefits continue to elevate their physical, emotional, and financial well-being throughout their career. To give our employees the flexibility they value, MassMutual launched a Well-Being Wallet in 2023, providing all eligible employees with $1,250 per year to invest in their total health — whether physical, emotional, or financial. This digital wallet reimburses employees for a wide range of eligible wellness expenses — from physical health (home fitness equipment, gym memberships, roller derby classes to name a few) to mental health (gardening, art supplies, meditation, and more) to financial health (student loan payments and 529 contributions, to budgeting software and child/eldercare expenses) and more. Employees also have the option to use their Well-Being Wallet to reimburse themselves for student loan payments and 529 contributions.
This year’s enhancements also included several new voluntary benefits, such as auto and home insurance, pet health insurance, identity and fraud protection, offering convenient ways for our employees to save money, boost financial health, and protect loved ones.
Ensuring our business thrives in a rapidly changing environment also means investing in people’s careers to amplify agility and innovation. Offered in person, virtually, and via online platforms, learning initiatives focus on working in a flexible environment; digital upskilling our business; diversity, equity, and inclusion (DEI) education; and what it means to be a transformational leader.
Shaping a Diverse, Equitable, and Inclusive Workplace
We value diverse perspectives and strive to reflect the growing diversity of the markets we serve. This begins with our leadership, wherein nearly half of MassMutual’s Executive Leadership Team and more than half of MassMutual’s Board of Directors are women or people of color, making us one of the most diverse boards among Fortune 500 companies.
Over one-third of employees participate in MassMutual’s eight business resource groups (BRGs), which are instrumental in providing the company with valuable insights into the groups they represent. The BRGs foster a culture where every employee feels like they belong. We continue to increase member engagement by providing safe spaces to have conversations about potentially sensitive topics and work to understand those who may have differing viewpoints.
Building on our strong foundation of DEI education and progress over the past 15 years, we’re broadening our focus, deepening our commitments, and building on our leadership position in DEI. That means hiring, investing in, and retaining the best talent; continuing to create a work environment where all feel seen, heard, valued, and respected; and identifying ways to attract more diverse customers and better serve marginalized communities. For example, MassMutual’s partnerships with nonprofits and historically Black colleges and universities help expand opportunities for underrepresented students, totaling more than $1.5 million in scholarships over four years.
MassMutual awarded Top Score on 2023 Disability Equality Index, Disability:IN and Equality 100 Award Leader in LGBTQ+ Workplace Inclusion, Human Rights Campaign
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