STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

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Benefits Matter Offering Competitive Benefits Remains Important Nearly eight in ten (78%) employers say it’s important to offer and subsidize a wide range of employee benefits. Twice as many companies believe it is “highly important” (44%) compared to those who feel it is “less important” (22%). PLAN SPONSOR COMMITMENT TO EMPLOYEE BENEFITS PROGRAM Less important: Important: Highly important: 22% 34% 44% “It is not at all important that we offer any benefits to our employees.” 0% 2% 6% 14% 34% 27% 17% “It is extremely important to offer our employees a wide range of benefits and pay for most or all of the cost.” 1 2 3 4 5 6 7 6
Commitment to Benefits Spans Most Company Size Segments More than half of all employers with 500+ employees remain “highly” committed to benefits. Commitment is also noticeable among smaller employers. Employers who feel that offering competitive benefits is “not important” may be faced with financial constraints, or the nature of their business makes it impractical to offer and subsidize a wide range of employee benefits. These companies tend to have the following characteristics: ■ Fewer than 100 employees ■ Retail and sales/trade industries ■ Located in the mid-west region Larger employers are somewhat more likely to rate their benefits as “generous.” Due to their size and economic power, they are able to offer a wider variety of programs and shoulder a greater share of the cost. COMMITMENT TO BENEFITS BY COMPANY SIZE 47% 56% 57% 51% Highly important to offer generous benefits* 40% Not important to offer benefits † * 6–7 responses on 7-point scale † 1–3 responses on 7-point scale 28% 6% 4% 3% 2% 50–99 100–499 500–4,999 5,000–9,999 10,000+ 7
Page 1 and 2: PRUDENTIAL’S GROUP INSURANCE STUD
Page 3 and 4: Welcome The cost of employee benefi
Page 5 and 6: Methodology This study surveyed a b
Page 7: Benefits Matter Eight in Ten Plan S
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

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