STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
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Plan Sponsors and Participants Are Receptive<br />
to Targeted Communications<br />
The complexity of insurance and retirement products and the challenge of reaching<br />
financial goals cause many employees to prefer more tailored, personalized benefits<br />
communication. A surprising four in ten employees are willing to share personal<br />
information to receive more effective and customized benefits offerings and advice.<br />
Plan sponsors who are frustrated by low participation in certain voluntary benefits<br />
are testing various communication and enrollment strategies. Among these emerging<br />
strategies is life-stage or life-event marketing, offering more customized benefit<br />
communications to select employee segments based on personal information the<br />
employer has obtained willingly from its employees (e.g., “permission marketing”).<br />
This allows a plan sponsor or its benefits provider to target the right benefits options<br />
to the right employees at the right time.<br />
WILLINGNESS TO SHARE PERSONAL INFORMATION<br />
FOR PERSONALIZED BENEFIT <strong>OF</strong>FERINGS/COMMUNICATIONS<br />
61%<br />
64% Not very willing<br />
to share<br />
personal information<br />
Very willing<br />
to share<br />
personal information<br />
39%<br />
36%<br />
Employers<br />
Employees<br />
17