2. We Meet Expectations
In depth research on Prudential’s
benefits package
Each team member surveyed 10
students in person
Compared Prudential’s benefits
with other companies
Created online survey where 109
people responded
Analyzed results
6. “In Business for Yourself, But Not by
Yourself”
53% value work environment
Family type relationships
Support
Career development program
Formal
“Test Drive”
12. Prudential vs. Principle
Health and wellness programs, including
on-site fitness facilities where available
No meeting Fridays
Adoption reimbursement
Mothers rooms in many locations
Cindy- Hello, my name is Cynthia Mogensen and I am the project manager for our team. We have Itzel, Andres, Xiaolin, Zhenwen, Carlos, Quan, and Anngellie. Each of our members will be talking about key points in our project. I’d like to go over our mission and hopefully clarify what we are here to present. We were tasked with answering the question “How does our benefits package meet expectations and attract top talent”? I’d like to tell you how we came to our conclusion.
Cindy-In doing all of our research, our team has come to the conclusion that Prudential’s benefit package is successful at meeting current expectations and attracting top talent. We dove deep into the information that was given to us and found several interesting facts that will be presented later. We listened and became excited with the different programs that Kenny spoke to us about. It is so much easier to get excited about a project when the person you are talking with is so happy to tell us about what Prudential has to offer. We could tell how proud Kenny is to be a part of the Prudential Team, and after our research, so are we. We made a comparison with 8 different companies and will show you the results of the top two we found. Our team created a survey that we presented in person to 10 people and posted online. I’d like to show you what it looks like now. As you can see, we went through various topics to determine the outcome we wanted. Finally, we analyzed the results, which Itzel will review with you now.
Itzel – So for our survey we had a total of 110 responses and as Cindy mentioned, we surveyed 10 people each totaling our in person surveys to 80 and we had an additional 30 in online surveys. Now I will show you a visual and go through our survey results with you. The first question we asked was “What is your major?”, as you can see most of the majors listed are in the business field since we are in a business class but surprisingly most of the people who responded to our survey were in the others category. The next question we asked was simply if they had heard about Prudential, 39.1% said yes they have and 60.9% said no they haven’t but fortunately after taking our survey, they now know about Prudential. Our third question was “Other than salary, what do you find most attractive about a company?” the winning response was work environment, which Andres will touch on in a minute, flexibility and advancement tied to come in second, but work environment was the most important because people want to feel comfortable in their work setting along with the people they work with. Next, we asked them if they would rather have a fixed salary or a salary dependent on their performance and as you can see there is minimal variance between the two, which in our opinion was shocking because we thought the growth potential would overwhelm the responses. The last four questions we asked them to scale their answers from 1 to 5 (1 being the lowest and 5 being the highest), the first scaling question was about how foster care/adoption programs would affect their decision on choosing a position. 51 people that responded didn’t see this as a top priority when choosing a position but there were 35 people who were in the middle with this question and actually wouldn’t mind this type of program. Our next scaling question was about the child/adult care programs affected their decision on choosing a position and on this one the answers really varied, maybe some of the people that answered have kids of their own or plan to have kids in the future so as you can see child care is important. After that, we asked people if they had a desire to help others reach their life goals and it seems that people do in fact love helping others in succeeding as well. On the last question, where we asked them if they were interested in a program that helps them build their own business, almost everybody said yes, we had 46.4% of them that were all for this program. That is all for the results, but to fully answer our project question, Andres is going to give you more details.
Carlos- Prudential has composed a competitive benefits package, capable of attracting the best of the best. Now, let’s take a look at what Prudential’s competitors are doing differently to keep up with us. As we can see, Principle offers health and wellness programs that include on-site fitness facilities, this can easily attract people that want to stay healthy while doing what they are passionate about. Also, Principle doesn’t have meetings on Fridays which is a plus for many that want to use their Fridays to catch up on paperwork or follow up on prospective clients. One thing that really fascinated me was the fact that Principal offers mother’s rooms in many of their locations. With women growing more and more in this industry, we need to create an incentive for them to want to join our team. A reason why they haven’t taken a foothold in this industry is because many of them are mothers and it can definitely be a challenge for them running a business and simultaneously being a mother. What if we can make them feel like they don’t have to choose between being a successful business woman and being a mother? Let’s show them that they too are more than welcomed to Prudential and that being a mother is not a factor when it comes to recruiting top talent. (one way that you are evenly competing with other companies is with your adoption program; specifically Principal offers an adoption reimbursement plan, though we found through our results that adoption isn’t a top priority, it is still relevant to oncoming advisors.) (Quan will now give you an insight to another one of Prudential’s top competitors.)
Anngellie- Based on our teammates’ exploration, we found that Prudential is a force in recruiting top talent. Andres told you how our career development programs is key in accomplishing that goal.
We have seen what other companies can offer, and we all agree that in spite of differences between top competitors Prudential is leading the way in regard to benefits. However, one interesting result from our research, we found that more than 60% of people surveyed haven’t heard of Prudential. Through this project, we’ve gained understanding of what Prudential has to offer and believe other students would benefit from our experience. Please continue to support Bauer and the University of Houston through the GENB class so that prospective students can acquire the knowledge of what the company has to offer. Prudential provides not only that knowledge but especially the support throughout the learning process. We thank you for your time and consideration. We can now take time for any questions you may have.
