STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

Teach Them Well
Demographic and Social Trends Will Strongly Influence
Future Benefit Offerings
Thirty years ago, workplaces were treated as mostly homogeneous and companies
struggled to make any benefits package available. Employers did not have the luxury
or need to develop benefits solutions by employee segment.
Today, the rapidly changing workforce is a reflection of our changing world and its
economic forces. The pre-retiree and even retiree populations (from former “primary”
careers) work alongside other generations. Multicultural and multilingual employees
who are so important to our future, also have special benefits needs. Dual working
parents, single parents, and empty nesters (no children at home) often require special
consideration as well.
Today, savvy companies and their HR functions seek to develop benefits programs
that meet the needs of various employee segments to keep workforce retention and
production high. Benefits providers must be effective partners, capable of developing
benefits features and communications that meet the challenges of a modern 21st
century workforce.
IMPACT OF DIVERSITY TRENDS ON BENEFITS OFFERINGS
STRONG INFLUENCE — TOP 2 POINTS OF 7-POINT SCALE
Doing in 2006 Plan to do by 2010
Mature employees
age 50+
Multigenerational
workforce
Multilingual/multicultural
workforce
Workforce
education/income gap
Dual working couples
Single working parents
Same sex partners
26%
47%
23%
33%
25%
33%
17%
24%
19%
26%
27%
33%
12%
16%
2006–2010
Change
+21
+10
+8
+7
+7
+6
+4
16