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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Study Overview<br />
For many U.S. businesses, employee benefits have become a balancing act. With health<br />
insurance premiums continually on the rise, some employers have cut back on other<br />
company-paid benefits or shifted a greater share of the cost to their employees. At the<br />
same time, plan sponsors want to help protect the financial security of their employees,<br />
many of whom rely on certain workplace benefits—such as life, disability, and long-term<br />
care insurance—as an important part of their overall financial plan. Furthermore,<br />
employers still recognize that a competitive benefits program is important to attracting<br />
and retaining talent.<br />
The primary objective of <strong>Prudential</strong>’s “Study of Employee Benefits: <strong>2006</strong> and Beyond”<br />
is to better understand the evolving employee benefits marketplace and provide insight<br />
into the future. This research identifies current and future employee needs and how<br />
employers plan to respond to those needs.<br />
Research Objectives<br />
We surveyed a representative cross-section of plan sponsors and plan participants about<br />
a wide range of topics, including:<br />
What are employees’ top financial and lifestyle concerns?<br />
What role will employee benefits play in the workplace of the future?<br />
Who will be the influential decision makers?<br />
What benefits will be offered and who will pay for them?<br />
Will cost-shifting increase?<br />
Are employees getting the details they need to make informed decisions?<br />
How will technology impact the delivery of services?<br />
Will the growth of work/life balance programs continue?<br />
As the workforce grows more diverse, what impact will this have on employee benefits?<br />
Five Key Themes Emerged from This Research<br />
1. Benefits Matter: Eight in Ten Plan Sponsors Remain Committed to Offering<br />
Competitive Benefits Programs<br />
2. Teach Them Well: Employees Want Greater Support in Understanding and<br />
Using Their Financial Benefits<br />
3. Lifestyle Benefits Offer Win/Win Solution: Healthy Lifestyle Emerges<br />
as a Holistic Desire for Employees and a Cost-Reduction Strategy for Employers<br />
4. Positive Online Outlook: Online Tools Are Popular and Opportunities Exist<br />
to Improve Utilization and Performance<br />
5. The Progressives: A Small But Growing Segment of Plan Sponsors<br />
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