STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

Positive Online Outlook
Adoption Rates for Web Technology Vary
Most firms (56%) are either trying to keep pace with technology or follow the
market in adopting proven technologies. However, almost one-third (29%) believe
their company is either “at the forefront” or “somewhat ahead” of other companies
when it comes to adopting new technology.
Financial services (19%) and other service industries (17%) are more likely to be early
adopters of technology, likely because their industries use technology in so many areas
of their businesses. Heavy industry and manufacturing is extremely competitive—more
than half strive to stay ahead of or equal to their market competitors.
The sales/trade industry is least willing to be early adopters of new technology.
Providing technology for commission-based and geographically dispersed sales
associates is challenging and benefits providers need to consider how to better
meet this need.
Adoption of online technology is highly correlated to company size. Over 50% of
employers with 5,000 – 10,000 employees consider themselves ahead of the market
when it comes to adopting new technologies.
Four in ten employers (41%) take a “wait and see” approach and either rely on
legacy technologies or adopt new technologies only after they have proven effective.
PLAN SPONSOR WILLINGNESS TO ADOPT NEW TECHNOLOGY
BY INDUSTRY
13%
3%
4%
9%
19%
17%
16%
20%
20%
8%
20%
14%
30%
31%
34%
16%
34%
32%
28%
29%
26%
39%
20%
26%
13%
13%
12%
23%
6%
9%
At the Forefront
of technology
Somewhat Ahead
of the market in adopting
new technologies
Keep Pace
with the market in adapting
new technologies
Tend to Follow
the market and only adopt
proven technologies
Rely on Legacy
technologies
26
All Employers Heavy Industry Manufacturing Sales/Trade Financial/Ins/Real Estate Services
% of Total Sample: 13% 16% 30% 28% 13%