STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

More documents

Recommendations

Info

Study of Employee Benefits: 2006 and Beyond Table of Contents Welcome 1 Study Overview 2 Methodology 3 Theme One: Benefits Matter 5 Theme Two: Teach Them Well 10 Theme Three: Lifestyle Benefits Offer Win/Win Solution 19 Theme Four: Positive Online Outlook 23 Theme Five: The Progressives 28 Summary of Key Findings 37 About Prudential 40
Welcome The cost of employee benefits is an increasingly important factor affecting each company’s finances. For many years, U.S. businesses have shouldered the responsibility of providing employees with much needed financial products. But with healthcare costs continuing to rise at often double-digit rates, many companies have been forced to find new ways to support insurance and retirement benefits for current and retired employees. Yet, despite these economic pressures, the results of this study show U.S. businesses overwhelmingly view employee benefits as important in competing effectively in today’s market place, particularly as a means to attract and retain talent. In fact, this study suggests many plan sponsors are exploring new and innovative ways to better balance cost containment objectives and maintain a competitive benefits program. At Prudential, we remain committed to helping companies meet this challenge by providing affordable group insurance solutions that protect the financial security of employees and their families—in 2006 and beyond. Vivian Banta Vice Chair, Prudential Financial Our recent research yielded significant insight into the employee benefits marketplace of the next five years—and we’d like to share it with you. Of particular interest, we learned about a small but growing segment of plan sponsors we’ve called “The Progressives” because of their more strategic approach to addressing benefits challenges. Progressive firms focus on programs that manage risk rather than chase costs, such as wellness and prevention, disease state management, mental health counseling, and work/life balance initiatives. Progressive plan sponsors seek to align their valuable benefits dollars with the financial needs and wants of their employees. Their benefits programs are designed not only to attract and retain valued employees, but also help to improve the overall financial security of their workforce. I hope you’ll find this information helpful as you consider your company’s benefits strategy now and in the coming years. Ed Baird President, Prudential’s Group Insurance 1
Page 1: PRUDENTIAL’S GROUP INSURANCE STUD
Page 5 and 6: Methodology This study surveyed a b
Page 7 and 8: Benefits Matter Eight in Ten Plan S
Page 9 and 10: Commitment to Benefits Spans Most C
Page 11 and 12: Benefits Decision Making Is Increas
Page 13 and 14: The Gap Among Top Financial Concern
Page 15 and 16: Voluntary Benefits on the Rise, But
Page 17 and 18: Most Plan Sponsors Do Not Require C
Page 19 and 20: Plan Sponsors and Participants Are
Page 21 and 22: Employee Concerns Extend Beyond Fin
Page 23 and 24: Interest in Lifestyle Benefits Vari
Page 25 and 26: Positive Online Outlook Online Tool
Page 27 and 28: Web Technology is Empowering Employ
Page 29 and 30: Plan Sponsors Want Enhanced Perform
Page 31 and 32: Criteria for Progressive Plan Spons
Page 33 and 34: Progressives Are More In Sync with
Page 35 and 36: Progressives Also Outpace Other Com
Page 37: Progressive Employers Value Persona
Page 40 and 41: Summary of Key Findings Theme One:
Page 42: About Prudential Financial Currentl

STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?