STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Welcome<br />
The cost of employee benefits is an increasingly important factor affecting each company’s<br />
finances. For many years, U.S. businesses have shouldered the responsibility of providing<br />
employees with much needed financial products. But with healthcare costs continuing<br />
to rise at often double-digit rates, many companies have been forced to find new ways<br />
to support insurance and retirement benefits for current and retired employees.<br />
Yet, despite these economic pressures, the results of this study show U.S. businesses<br />
overwhelmingly view employee benefits as important in competing effectively in today’s<br />
market place, particularly as a means to attract and retain talent. In fact, this study<br />
suggests many plan sponsors are exploring new and innovative ways to better balance<br />
cost containment objectives and maintain a competitive benefits program.<br />
At <strong>Prudential</strong>, we remain committed to helping companies meet this challenge by providing<br />
affordable group insurance solutions that protect the financial security of employees and<br />
their families—in <strong>2006</strong> and beyond.<br />
Vivian Banta<br />
Vice Chair, <strong>Prudential</strong> Financial<br />
Our recent research yielded significant insight into the employee benefits marketplace of<br />
the next five years—and we’d like to share it with you.<br />
Of particular interest, we learned about a small but growing segment of plan sponsors<br />
we’ve called “The Progressives” because of their more strategic approach to addressing<br />
benefits challenges. Progressive firms focus on programs that manage risk rather than<br />
chase costs, such as wellness and prevention, disease state management, mental health<br />
counseling, and work/life balance initiatives. Progressive plan sponsors seek to align their<br />
valuable benefits dollars with the financial needs and wants of their employees. Their<br />
benefits programs are designed not only to attract and retain valued employees, but<br />
also help to improve the overall financial security of their workforce.<br />
I hope you’ll find this information helpful as you consider your company’s benefits<br />
strategy now and in the coming years.<br />
Ed Baird<br />
President, <strong>Prudential</strong>’s Group Insurance<br />
1