The document discusses the findings of MetLife's 10th Annual Study of Employee Benefits Trends. It finds that 60% of surveyed employers see opportunities for benefits to drive business goals in the current economic climate. These "Progressive" employers are more likely than others to see benefits as important for retaining employees, increasing productivity, and attracting talent. They also have a stronger sense of responsibility to contribute to the costs of benefits.
The Millennial Consumer (Boston Consulting Group) - AB12Inspiring Benefits
En este estudio, Boston Consulting Group pretende desmontar mitos sobre la generación conocida como millenials, habitualmente calificada de "vaga" y "poco comprometida" y realizar un acercamiento que ayude a conocer más a este grupo como consumidores. (En inglés)
Next generation strategies for advertising to millennialsUtku Özkan
Millennials are an important target market for advertisers due to their large population size and spending power. While traditional television advertising is less effective for reaching Millennials compared to older generations, digital advertising shows relatively better performance among Millennials. To most effectively reach Millennials, advertisers should employ strong creative messaging that provides compelling reasons to choose the brand over competitors through differentiation, competitive comparisons, or highlighting new products/features. Core elements like branding and focusing on the product can resonate with Millennials similar to other audiences when executed well.
The millennial impact report 2012 (Achieve and Johnson, Grossnickle and Assoc...Inspiring Benefits
Achieve and Johnson, Grossnickle and Associates basa este estudio en los resultados obtenidos de encuestas online a jóvenes de 20 a 35 años, focus group y otra serie de encuestas online a profesionales que hayan dirigido estrategias de proyectos sin ánimo de lucro a este grupo de edad.
This document discusses millennial shoppers and their shopping behaviors. It finds that millennial shoppers have a more negative sentiment about their finances than older age groups. Their shopping patterns have also changed, with some doing more at-home activities like cooking and beauty treatments to save money. The drug channel earns a larger than average share of millennial spending. The document concludes that companies need a strong value proposition reflecting millennial needs in order to attract their business.
Millennials have gotten more attention, but aging baby boomers represent a vast opportunity for marketers at consumer goods and other companies. Based largely on research by ReD Associates, our collaborative paper explores how you can effectively address boomers' changing roles, lifestyle shifts, major purchase patterns, and other behaviors and characteristics.
Gone are the days when consumers were kings with unrivalled dominion and unchallenged tastes
and preferences. Time has seen consumers willingly or otherwise lose such sovereign and indomitable power in
the marketplace and are now captive, on handcuffs of ruthless marketing tactics. Evidence witnessed that
consumers are often hoodwinked
Society has saluted corporate social responsibility of firms blindly without paying keen interest to the
long-term survival of humanity. This has made firms pay insufficient consideration to the need to produce
ecologically friendly products
IMAGE IS INDEED EVERYTHING: AN ANALYSIS OF HOW AMERICANS VIEW LEADING COMPANI...ijmpict
The document analyzes a survey that assessed Americans' views of leading companies' reputations across 7 dimensions. It found:
- Patagonia, Honda, and Moderna were rated highest overall, while Trump Organization, Fox, and Facebook rated lowest.
- Reputation did not perfectly correlate with visibility/familiarity - less visible companies like Patagonia and Moderna had stronger reputations than more visible ones like Amazon.
- The document explores the survey results for each reputational dimension to identify the companies viewed most positively and negatively. It aims to provide insights for corporate reputation management.
The Millennial Consumer (Boston Consulting Group) - AB12Inspiring Benefits
En este estudio, Boston Consulting Group pretende desmontar mitos sobre la generación conocida como millenials, habitualmente calificada de "vaga" y "poco comprometida" y realizar un acercamiento que ayude a conocer más a este grupo como consumidores. (En inglés)
Next generation strategies for advertising to millennialsUtku Özkan
Millennials are an important target market for advertisers due to their large population size and spending power. While traditional television advertising is less effective for reaching Millennials compared to older generations, digital advertising shows relatively better performance among Millennials. To most effectively reach Millennials, advertisers should employ strong creative messaging that provides compelling reasons to choose the brand over competitors through differentiation, competitive comparisons, or highlighting new products/features. Core elements like branding and focusing on the product can resonate with Millennials similar to other audiences when executed well.
The millennial impact report 2012 (Achieve and Johnson, Grossnickle and Assoc...Inspiring Benefits
Achieve and Johnson, Grossnickle and Associates basa este estudio en los resultados obtenidos de encuestas online a jóvenes de 20 a 35 años, focus group y otra serie de encuestas online a profesionales que hayan dirigido estrategias de proyectos sin ánimo de lucro a este grupo de edad.
This document discusses millennial shoppers and their shopping behaviors. It finds that millennial shoppers have a more negative sentiment about their finances than older age groups. Their shopping patterns have also changed, with some doing more at-home activities like cooking and beauty treatments to save money. The drug channel earns a larger than average share of millennial spending. The document concludes that companies need a strong value proposition reflecting millennial needs in order to attract their business.
Millennials have gotten more attention, but aging baby boomers represent a vast opportunity for marketers at consumer goods and other companies. Based largely on research by ReD Associates, our collaborative paper explores how you can effectively address boomers' changing roles, lifestyle shifts, major purchase patterns, and other behaviors and characteristics.
Gone are the days when consumers were kings with unrivalled dominion and unchallenged tastes
and preferences. Time has seen consumers willingly or otherwise lose such sovereign and indomitable power in
the marketplace and are now captive, on handcuffs of ruthless marketing tactics. Evidence witnessed that
consumers are often hoodwinked
Society has saluted corporate social responsibility of firms blindly without paying keen interest to the
long-term survival of humanity. This has made firms pay insufficient consideration to the need to produce
ecologically friendly products
IMAGE IS INDEED EVERYTHING: AN ANALYSIS OF HOW AMERICANS VIEW LEADING COMPANI...ijmpict
The document analyzes a survey that assessed Americans' views of leading companies' reputations across 7 dimensions. It found:
- Patagonia, Honda, and Moderna were rated highest overall, while Trump Organization, Fox, and Facebook rated lowest.
- Reputation did not perfectly correlate with visibility/familiarity - less visible companies like Patagonia and Moderna had stronger reputations than more visible ones like Amazon.
- The document explores the survey results for each reputational dimension to identify the companies viewed most positively and negatively. It aims to provide insights for corporate reputation management.
This document provides an overview of ethics in marketing research and advertising. It discusses several key points:
1. Advertising promotes consumerism but can also undermine personal autonomy by exploiting human desires. It faces criticism for being deceptive, manipulative, and for promoting excessive consumption.
2. Ethical principles for advertising include respecting truthfulness, not exploiting human weaknesses for profit, and respecting social responsibilities regarding issues like the environment and materialism.
3. The benefits of advertising include communication, raising standards of living, and product differentiation, but it also faces ethical pitfalls if it misleads consumers or fails to tell the whole truth regarding products.
This year’s edition highlights five critical trends for communicators in the next 12-18 months. Each is brought to life with real-world examples, implications for businesses and a carefully curated selection of classes from innovative institutions worldwide.
The Study Guide is designed as both a primer and a resource to allow for deep-dives. We hope it piques your curiosity and gives you fluency in new elements of modern media and communications.
Created in Adobe InDesign, this press kit encourages potential sponsors to partner with CARE Oklahoma while also exposing their own brand to leaders in the long-term care profession
The Four Cornerstones of the Conscious Corporation - PresentationEuro RSCG Worldwide
This document discusses the rise of corporate power over the past 200+ years and increasing distrust in corporations due to scandals. However, consumers now expect more from corporations in terms of social responsibility. The document proposes four cornerstones of the "conscious corporation" of the future: 1) a purpose beyond profit, 2) a people-centered culture, 3) championing sustainability, and 4) respecting consumers' power. Examples of companies embracing these principles are provided. The rewards of cultivating a strong reputation through these means are discussed.
This document provides a campaign plan for Everkin, a phone case and tech accessories company, for their Fall 2019 campaign titled "Made For Everyone." The campaign aims to increase brand awareness and sales by appealing to a broader audience and establishing Everkin as a more gender-neutral brand. Key elements of the plan include situational and market analyses, target audiences of 18-31 and 32-45 year olds, communication objectives of increasing social media engagement and awareness, and tactics such as social media posts, influencer marketing, and search engine optimization.
This document discusses connecting with Generation Y (Millennials) for financial services firms. Key points:
- Gen Y is a large, wealthy and influential demographic that expects tech-savvy, personalized experiences.
- To attract Gen Y, firms must use new communication channels like social media and provide a seamless, multi-channel experience.
- Winning Gen Y also requires sophisticated CRM to personalize interactions and retain their long-term loyalty as they are less brand-loyal than other groups. Firms must shift to more customer-driven, individualized engagement.
Strategy Magazine wrote about the SPC Card study “Pulse of the Canadian Student Shopper” study.
With 1 million+ cardholders aged 14-24 per year, SPC Card - Canada’s leading student loyalty program, enjoys robust and privileged access to young Canadian shoppers.
Smart Millennials and their Changing Shopping Trends: A Case of Millennial St...IJMTST Journal
Shopping habits among people change with the change in generation. Each generation is characterized by unique habits and preferences. Understanding the changing trends becomes paramount for retailers to suit their business strategies to the new-age customers. On the other hand, reforms in the industry and pressures from competition throws open new vistas for today's retailers. In this connection, a study has been initiated to understand the changing shopping trends among millennials. The chief objective of the study is to find the changing habits of millennials in terms of their online buying, the penetration of smart-phone into their purchase process and their satisfaction towards online purchase. A sample of 135 respondents in Nellore was approached for a survey and after a few rejections; data from a total of 128 respondents was gathered using a structured questionnaire. The data gathered was thoroughly analyzed using statistical tools and the findings were presented. The results of the study state that the new-gen shoppers who are termed as millennials are coming up with unprecedented shopping habits and preferences. Most of the millennials own a smartphone or two which has disrupted the shopping trends in the market. Smart Millennials, the ones who belong to millennial generation and who own a smartphone are ubiquitous. Smartphones have penetrated deep into their personal lives. Smart millenials are welcoming experiments in product delivery and payment methods, spurring online shopping trend. However, there exist a few cases, if not many in which these smart millennials are slurred by a few online retailers by way failed delivery of product ordered. The study concludes that smart millennials are going to make a huge pie of the market in the years ahead and with the changing times comes the need for the retailers to fine-tune business as well.
The document discusses the evolution of marketing from Marketing 1.0 to Marketing 3.0. Marketing 1.0 was product-centric, while Marketing 2.0 became more consumer-centric. Now in Marketing 3.0, marketing must be value-centric and meet consumers' emotional and rational needs. It emphasizes engaging with consumers, building trust and credibility through authenticity, transparency, and responsiveness. Mass connectors and social media influencers are important to target. To succeed in Marketing 3.0, companies must adapt to this new collaborative environment and be sensitive to changes in consumer behavior.
Leveraging company values to drive revenue in 2017 - White PaperLouise Cunningham
The document summarizes research on how company values influence purchase decisions, especially for emerging generations. It finds that ethics, social responsibility, and environmental stance are very important to those aged 18-30 when considering purchases. Four out of five millennials consider a company's deeper values. The values of parent companies can also impact choices. Leveraging values can drive revenue if companies authentically communicate values in a way that is meaningful to emerging generations.
The passage discusses word-of-mouth marketing techniques. It notes that as traditional advertising declines, word-of-mouth marketing is becoming more popular. Companies are recruiting influential people to endorse products to their friends. While this can create positive buzz, it is difficult for marketers to control and negative views spread quickly. The passage discusses BzzAgent, a company that gives people free products to discuss with friends. It suggests word-of-mouth marketing could become a multi-billion dollar industry.
StateFarm NSAC Book - University of Arizonaalexbfeldman
Studio320 conducted research to develop a marketing campaign for State Farm targeted at young adults aged 18-25. Through surveys and focus groups, they found this demographic thinks little about auto insurance and those whose parents pay do not think about it at all. Their $40 million campaign, called "Know It All", will target young adults through three phases using their preferred media like social networks. The goal is to change perceptions of State Farm from traditional to innovative among young adults.
How humanized businesses are growing by establishing a purpose beyond profits and a people-centered culture, championing sustainability, and respecting consumers' power. Includes select findings from Euro RSCG Worldwide's The Future of the Corporate Brand study, plus information on Good for Business: The Rise of the Conscious Corporation (Palgrave Macmillan).
Marketing The Futureof Brands,A Chapterfrom Brandsand Brandinghimanshusisodia
This document discusses future trends that will impact brands and business. Some key points:
1) The future of brands is inextricably linked to the future of business and society. Brands will need to adapt to changes in both areas to remain successful.
2) Emerging markets like Asia will likely generate many of the world's top brands in the future, both in manufactured goods and services.
3) Brands will need to consider broader measures of success beyond just profits. Addressing social and environmental issues will become more important through genuine corporate social responsibility programs.
4) Global challenges like the potential misuse of technology pose serious risks to the survival of civilization, creating uncertainty for brands and
Another advertising industry first, The Brand Cross-Cultural Index (BCCI), Powered by BrandZ™ is an innovation brought to market by Ogilvy & Mather and Millward. The first equity assessment tool of its kind, powered by the world’s largest brand equity database, it assesses and ranks brands based on their appeal to non-Hispanic White, Hispanic, Black and Asian consumers.
The website www.chooseyouradventure.com will be highly interactive, allowing users to make choices that determine their hypothetical life story and risks of drug use. It will include testimonials from teens about experiences with meth to share realistic stories and start online conversations. The goal is to provide a positive experience that informs teens about drug dangers in an engaging way through an interactive "choose your own adventure" style format.
The Conversation Index takes 12.7 million first-person consumer conversations on brand sites, and digs deep to reveal what consumers are talking about.
Beyond Advertising: Creating Value Through all Email and Mobile TouchpointsMarketingSherpa
Watch this session live at 2:00pm EST on Wednesday, May 3, 2017. www.marketingsherpa.com/beyond
MarketingSherpa Summit was filled with real-world case studies from your peers. This webinar provides an opportunity to step outside your day-to-day role and ask big questions like, “Where do I want to take my organization, department or individual career?” — and learn how to transform your organization and career with customer-first marketing philosophies.
To help you do that, we’ve invited a pioneering researcher focused on reinventing advertising and marketing. In this webinar, Catharine Hays — the executive director of The Wharton Future of Advertising Program and co-author of “Beyond Advertising: Creating Value Through All Customer Touchpoints” — will share her research into customer-first marketing with over 200 thought leaders in marketing, technology, cultural anthropology and other disciplines from 22 countries.
In this webinar, you will learn:
The five forces of change affecting marketing and advertising
Insights, ideas and frameworks for adapting to how mobile technology has changed brands relationships with customers
How to challenge entrenched mental models of email and mobile marketing and advertising, including example pioneering customer-first marketers are taking
Philip kotler marketing_3.0_seminar_april_4_2011snehalpurohit
The document summarizes Philip Kotler's presentation on marketing trends and the evolution of marketing from Marketing 1.0 to Marketing 3.0. It discusses the loss of effectiveness of traditional marketing approaches and the need for companies to shift to a more strategic, values-driven approach that focuses on all stakeholders, involves customers in product development, and addresses societal challenges like sustainability. The presentation highlights how marketing must adapt to new technologies, empowered customers, distrust in business, and other trends in order to build strong brands and company reputation.
Consumers discuss products and brands online, generating a large amount of data. When analyzed, this consumer-generated data reveals insights about consumer sentiment, trends, and perspectives. This document discusses analyzing millions of consumer conversations to uncover sentiment trends across generations and how language used reveals consumer needs and interests. It also discusses how new product releases can impact sentiment of older versions and opportunities for brands.
Please share this slideshow with anyone who may be interested!
In this webinar:
● Overview of the structure and operation of Canada’s private drug plan marketplace, including the important distinctions and/or overlaps between private (insurance) and public (government) providers
● Explanation of the role and place of medication coverage within the supplemental health benefits plans of life and health insurance companies which provide pharmaceutical coverage
● Identification of the various providers and influencers which contribute to private formulary (lists of drugs which are covered) decision-making and their roles in the system
● Understanding generally what gets covered, by which plans and under what circumstances and which medications are typically subject to restrictions
● Guidance on how to determine which medications are covered
● Exploration of how patients and caregivers can navigate through the complex private plan system including:
● Who should provide answers regarding coverage and
eligibility?
● What you can do if you run into coverage restrictions / rejections?
● How should patients interact with the private payer community generally?
Contact the presenter:
● suzanne@suzannelepage.ca
● www.suzannelepage.ca
● @suzannelepage
View the video on YouTube: https://youtu.be/yKPUT9Ymj3Y
Follow our social media accounts:
Twitter - https://twitter.com/survivornetca
Facebook - https://www.facebook.com/CanadianSurvivorNet
Pinterest - https://www.pinterest.com/survivornetwork
YouTube - https://www.youtube.com/user/Survivornetca
The document discusses characteristics and techniques for teaching slow learners and backward children in mathematics. It defines backward children as those unable to do work at the level of their peers and whose educational attainment is lower than their capabilities. Characteristics include lower mental than chronological age, inability to keep pace in class, and difficulties with abstraction, logic, and detecting errors. The document recommends techniques for teachers such as not overloading slow learners, using audiovisual aids, extra classes, deductive teaching methods, and breaking questions into simple parts.
This document provides an overview of ethics in marketing research and advertising. It discusses several key points:
1. Advertising promotes consumerism but can also undermine personal autonomy by exploiting human desires. It faces criticism for being deceptive, manipulative, and for promoting excessive consumption.
2. Ethical principles for advertising include respecting truthfulness, not exploiting human weaknesses for profit, and respecting social responsibilities regarding issues like the environment and materialism.
3. The benefits of advertising include communication, raising standards of living, and product differentiation, but it also faces ethical pitfalls if it misleads consumers or fails to tell the whole truth regarding products.
This year’s edition highlights five critical trends for communicators in the next 12-18 months. Each is brought to life with real-world examples, implications for businesses and a carefully curated selection of classes from innovative institutions worldwide.
The Study Guide is designed as both a primer and a resource to allow for deep-dives. We hope it piques your curiosity and gives you fluency in new elements of modern media and communications.
Created in Adobe InDesign, this press kit encourages potential sponsors to partner with CARE Oklahoma while also exposing their own brand to leaders in the long-term care profession
The Four Cornerstones of the Conscious Corporation - PresentationEuro RSCG Worldwide
This document discusses the rise of corporate power over the past 200+ years and increasing distrust in corporations due to scandals. However, consumers now expect more from corporations in terms of social responsibility. The document proposes four cornerstones of the "conscious corporation" of the future: 1) a purpose beyond profit, 2) a people-centered culture, 3) championing sustainability, and 4) respecting consumers' power. Examples of companies embracing these principles are provided. The rewards of cultivating a strong reputation through these means are discussed.
This document provides a campaign plan for Everkin, a phone case and tech accessories company, for their Fall 2019 campaign titled "Made For Everyone." The campaign aims to increase brand awareness and sales by appealing to a broader audience and establishing Everkin as a more gender-neutral brand. Key elements of the plan include situational and market analyses, target audiences of 18-31 and 32-45 year olds, communication objectives of increasing social media engagement and awareness, and tactics such as social media posts, influencer marketing, and search engine optimization.
This document discusses connecting with Generation Y (Millennials) for financial services firms. Key points:
- Gen Y is a large, wealthy and influential demographic that expects tech-savvy, personalized experiences.
- To attract Gen Y, firms must use new communication channels like social media and provide a seamless, multi-channel experience.
- Winning Gen Y also requires sophisticated CRM to personalize interactions and retain their long-term loyalty as they are less brand-loyal than other groups. Firms must shift to more customer-driven, individualized engagement.
Strategy Magazine wrote about the SPC Card study “Pulse of the Canadian Student Shopper” study.
With 1 million+ cardholders aged 14-24 per year, SPC Card - Canada’s leading student loyalty program, enjoys robust and privileged access to young Canadian shoppers.
Smart Millennials and their Changing Shopping Trends: A Case of Millennial St...IJMTST Journal
Shopping habits among people change with the change in generation. Each generation is characterized by unique habits and preferences. Understanding the changing trends becomes paramount for retailers to suit their business strategies to the new-age customers. On the other hand, reforms in the industry and pressures from competition throws open new vistas for today's retailers. In this connection, a study has been initiated to understand the changing shopping trends among millennials. The chief objective of the study is to find the changing habits of millennials in terms of their online buying, the penetration of smart-phone into their purchase process and their satisfaction towards online purchase. A sample of 135 respondents in Nellore was approached for a survey and after a few rejections; data from a total of 128 respondents was gathered using a structured questionnaire. The data gathered was thoroughly analyzed using statistical tools and the findings were presented. The results of the study state that the new-gen shoppers who are termed as millennials are coming up with unprecedented shopping habits and preferences. Most of the millennials own a smartphone or two which has disrupted the shopping trends in the market. Smart Millennials, the ones who belong to millennial generation and who own a smartphone are ubiquitous. Smartphones have penetrated deep into their personal lives. Smart millenials are welcoming experiments in product delivery and payment methods, spurring online shopping trend. However, there exist a few cases, if not many in which these smart millennials are slurred by a few online retailers by way failed delivery of product ordered. The study concludes that smart millennials are going to make a huge pie of the market in the years ahead and with the changing times comes the need for the retailers to fine-tune business as well.
The document discusses the evolution of marketing from Marketing 1.0 to Marketing 3.0. Marketing 1.0 was product-centric, while Marketing 2.0 became more consumer-centric. Now in Marketing 3.0, marketing must be value-centric and meet consumers' emotional and rational needs. It emphasizes engaging with consumers, building trust and credibility through authenticity, transparency, and responsiveness. Mass connectors and social media influencers are important to target. To succeed in Marketing 3.0, companies must adapt to this new collaborative environment and be sensitive to changes in consumer behavior.
Leveraging company values to drive revenue in 2017 - White PaperLouise Cunningham
The document summarizes research on how company values influence purchase decisions, especially for emerging generations. It finds that ethics, social responsibility, and environmental stance are very important to those aged 18-30 when considering purchases. Four out of five millennials consider a company's deeper values. The values of parent companies can also impact choices. Leveraging values can drive revenue if companies authentically communicate values in a way that is meaningful to emerging generations.
The passage discusses word-of-mouth marketing techniques. It notes that as traditional advertising declines, word-of-mouth marketing is becoming more popular. Companies are recruiting influential people to endorse products to their friends. While this can create positive buzz, it is difficult for marketers to control and negative views spread quickly. The passage discusses BzzAgent, a company that gives people free products to discuss with friends. It suggests word-of-mouth marketing could become a multi-billion dollar industry.
StateFarm NSAC Book - University of Arizonaalexbfeldman
Studio320 conducted research to develop a marketing campaign for State Farm targeted at young adults aged 18-25. Through surveys and focus groups, they found this demographic thinks little about auto insurance and those whose parents pay do not think about it at all. Their $40 million campaign, called "Know It All", will target young adults through three phases using their preferred media like social networks. The goal is to change perceptions of State Farm from traditional to innovative among young adults.
How humanized businesses are growing by establishing a purpose beyond profits and a people-centered culture, championing sustainability, and respecting consumers' power. Includes select findings from Euro RSCG Worldwide's The Future of the Corporate Brand study, plus information on Good for Business: The Rise of the Conscious Corporation (Palgrave Macmillan).
Marketing The Futureof Brands,A Chapterfrom Brandsand Brandinghimanshusisodia
This document discusses future trends that will impact brands and business. Some key points:
1) The future of brands is inextricably linked to the future of business and society. Brands will need to adapt to changes in both areas to remain successful.
2) Emerging markets like Asia will likely generate many of the world's top brands in the future, both in manufactured goods and services.
3) Brands will need to consider broader measures of success beyond just profits. Addressing social and environmental issues will become more important through genuine corporate social responsibility programs.
4) Global challenges like the potential misuse of technology pose serious risks to the survival of civilization, creating uncertainty for brands and
Another advertising industry first, The Brand Cross-Cultural Index (BCCI), Powered by BrandZ™ is an innovation brought to market by Ogilvy & Mather and Millward. The first equity assessment tool of its kind, powered by the world’s largest brand equity database, it assesses and ranks brands based on their appeal to non-Hispanic White, Hispanic, Black and Asian consumers.
The website www.chooseyouradventure.com will be highly interactive, allowing users to make choices that determine their hypothetical life story and risks of drug use. It will include testimonials from teens about experiences with meth to share realistic stories and start online conversations. The goal is to provide a positive experience that informs teens about drug dangers in an engaging way through an interactive "choose your own adventure" style format.
The Conversation Index takes 12.7 million first-person consumer conversations on brand sites, and digs deep to reveal what consumers are talking about.
Beyond Advertising: Creating Value Through all Email and Mobile TouchpointsMarketingSherpa
Watch this session live at 2:00pm EST on Wednesday, May 3, 2017. www.marketingsherpa.com/beyond
MarketingSherpa Summit was filled with real-world case studies from your peers. This webinar provides an opportunity to step outside your day-to-day role and ask big questions like, “Where do I want to take my organization, department or individual career?” — and learn how to transform your organization and career with customer-first marketing philosophies.
To help you do that, we’ve invited a pioneering researcher focused on reinventing advertising and marketing. In this webinar, Catharine Hays — the executive director of The Wharton Future of Advertising Program and co-author of “Beyond Advertising: Creating Value Through All Customer Touchpoints” — will share her research into customer-first marketing with over 200 thought leaders in marketing, technology, cultural anthropology and other disciplines from 22 countries.
In this webinar, you will learn:
The five forces of change affecting marketing and advertising
Insights, ideas and frameworks for adapting to how mobile technology has changed brands relationships with customers
How to challenge entrenched mental models of email and mobile marketing and advertising, including example pioneering customer-first marketers are taking
Philip kotler marketing_3.0_seminar_april_4_2011snehalpurohit
The document summarizes Philip Kotler's presentation on marketing trends and the evolution of marketing from Marketing 1.0 to Marketing 3.0. It discusses the loss of effectiveness of traditional marketing approaches and the need for companies to shift to a more strategic, values-driven approach that focuses on all stakeholders, involves customers in product development, and addresses societal challenges like sustainability. The presentation highlights how marketing must adapt to new technologies, empowered customers, distrust in business, and other trends in order to build strong brands and company reputation.
Consumers discuss products and brands online, generating a large amount of data. When analyzed, this consumer-generated data reveals insights about consumer sentiment, trends, and perspectives. This document discusses analyzing millions of consumer conversations to uncover sentiment trends across generations and how language used reveals consumer needs and interests. It also discusses how new product releases can impact sentiment of older versions and opportunities for brands.
Please share this slideshow with anyone who may be interested!
In this webinar:
● Overview of the structure and operation of Canada’s private drug plan marketplace, including the important distinctions and/or overlaps between private (insurance) and public (government) providers
● Explanation of the role and place of medication coverage within the supplemental health benefits plans of life and health insurance companies which provide pharmaceutical coverage
● Identification of the various providers and influencers which contribute to private formulary (lists of drugs which are covered) decision-making and their roles in the system
● Understanding generally what gets covered, by which plans and under what circumstances and which medications are typically subject to restrictions
● Guidance on how to determine which medications are covered
● Exploration of how patients and caregivers can navigate through the complex private plan system including:
● Who should provide answers regarding coverage and
eligibility?
● What you can do if you run into coverage restrictions / rejections?
● How should patients interact with the private payer community generally?
Contact the presenter:
● suzanne@suzannelepage.ca
● www.suzannelepage.ca
● @suzannelepage
View the video on YouTube: https://youtu.be/yKPUT9Ymj3Y
Follow our social media accounts:
Twitter - https://twitter.com/survivornetca
Facebook - https://www.facebook.com/CanadianSurvivorNet
Pinterest - https://www.pinterest.com/survivornetwork
YouTube - https://www.youtube.com/user/Survivornetca
The document discusses characteristics and techniques for teaching slow learners and backward children in mathematics. It defines backward children as those unable to do work at the level of their peers and whose educational attainment is lower than their capabilities. Characteristics include lower mental than chronological age, inability to keep pace in class, and difficulties with abstraction, logic, and detecting errors. The document recommends techniques for teachers such as not overloading slow learners, using audiovisual aids, extra classes, deductive teaching methods, and breaking questions into simple parts.
The document discusses compensation and benefits practices at various organizations. It provides an overview of compensation systems, including direct and indirect components. It also covers the needs for compensation, designing equitable compensation considering internal and external equity, and linking pay to performance. The document concludes by giving examples of compensation and benefits plans of companies like Google, Procter & Gamble, Apollo Hospitals, and Wipro.
The document discusses strategies for compensation philosophy and plans after a bank merger. It proposes:
1) Targeting salaries in the top quartile of the market to attract and retain high-performing employees.
2) Developing clear job expectations and descriptions to communicate the demanding performance standards required for above-market compensation.
3) Gathering input from employees, management, industry trends, and market practices to design fair, communicative compensation plans that balance short-term and long-term interests.
This document discusses compensation management. It defines compensation as the monetary and non-monetary value provided to employees in exchange for work. Compensation has objectives like recruiting qualified employees, increasing morale, and rewarding performance. Compensation has direct elements like base pay and bonuses, and indirect elements like insurance and retirement programs. Non-monetary compensation enhances satisfaction and relationships. Compensation is important for job descriptions, analysis, and structure. Factors affecting compensation include external factors like the economy and internal factors like compensation policies and an organization's ability to pay.
A Case Study about Child Development - JMSofia Molato
This case study examines the physical, cognitive, emotional, and social development of a 10-year-old boy named JM. It observes JM in his classroom at John Dewey School for Children. JM lives with his mother and younger sister while his father works abroad. The study finds that JM shows normal physical growth and motor skills for his age. Cognitively, JM is able to solve problems and complete tasks as expected for his concrete operational stage of development. Emotionally, JM interacts well with his peers but lacks sensitivity at times. Socially, he is friendly and enjoys team sports, exhibiting developmentally appropriate independence and social skills.
The article discusses three approaches to measuring retirement benefit adequacy: replacement ratios, minimum needs measures, and cash flow analysis. It summarizes a Society of Actuaries study that used a simulation model to analyze how different factors like income, wealth, health risks, and retirement decisions impact retiree welfare. Key findings include that many retirees may see a drop in standard of living, delaying retirement significantly improves adequacy, health and long-term care risks can derail plans more than investment risk, and employers should consider shock events in benefits design and offer education resources.
Adapating A Practice For Retirement Income Planningdglickman
The document discusses the challenges financial advisors face as the industry shifts from asset accumulation to retirement income planning. It notes that retirement income planning is more complex and time-intensive than traditional accumulation services. Additionally, compensation models may need to adapt as retired clients' portfolios shift to more conservative assets that generate less commission revenue. The document provides strategies for advisors to adapt their practices, such as expanding expertise, utilizing technology, and developing new compensation approaches.
Voluntary insurance policies provided by employers can help address rising health care costs and benefits challenges. As health care premiums increase faster than wages, employers are forced to reduce coverage while employees face higher deductibles and out-of-pocket costs. This places financial strain on both employers and employees. Voluntary insurance supplements existing health plans by providing additional benefits to help cover expenses with no added costs to employers. It enhances employee benefits packages and satisfaction while helping attract and retain talent. Over half of large employers offer voluntary insurance as an affordable solution to complex health care issues.
_Navigating the Path to Success_ Strategies for a Thriving Career_.pdfoceanbussines
In today's dynamic world, employment plays a crucial role in shaping individuals' lives and driving the growth of societies. Whether you're a recent graduate entering the workforce or someone seeking a career change, understanding the importance of employment and its various aspects is essential. This article explores the significance of employment, different types of employment, factors influencing employment trends, benefits and challenges associated with it, and strategies for successful employment.
Retirement Reimagined: Longevity and the Future of Financial Well-BeingCognizant
As life expectancies grow, banks and insurers need to deliver products and services that provide people with financial security throughout their extended sunset years. Here’s how the financial services industry can remain relevant and vital as life journeys elongate and grow more fluid.
The document discusses how increased choice in UK pension benefits has created behavioral complications for members. It examines potential behaviors people may exhibit given more freedom over how they access pension funds. While choice is welcomed, there is concern that too much could overwhelm people and reduce optimal outcomes. The key question is how much choice is dangerous and how can its effects be managed. The document suggests employers understand member behaviors to plan accordingly and provide support through engagement programs to help people make informed retirement decisions.
Reimagining Retirement: Longevity and the Future of Financial ServicesCognizant
As life expectancies grow, here's how banks and insurers can deliver products and services that provide people with financial
security throughout their extended sunset years.
Readthe The One Acre Fund case. Using ethical theories and princip.docxaudeleypearl
Readthe The One Acre Fund case. Using ethical theories and principles learned in this course, especially solidarity, analyze the moral worth of the decisions made in The One Acre Fund. Also discuss the various options open to The One Acre Fund and choose the one you think would have been the best. Justify the choice you make using resources from this course. 350 words.
Lecture:
https://youtu.be/tlFfsf5eFJA
http://www.newadvent.org/cathen/14474a.htm
Rubric:
The One Acre Fund case:
Andrew Youn’s career path seemed to be headed in a predictable direction. After graduating with honors from Yale and finishing his MBA at the prestigious Kellogg School of Management, this son of Korean immigrants who grew up in St. Paul, Minnesota, dreamed of becoming a strategic consultant for a large Fortune 500 company. However, after an extended internship in rural Kenya, where Andrew had the opportunity to interview subsistence farmers, he began to refocus his entrepreneurial drive. He realized that the lives of African farmers could be radically transformed by a relatively minuscule investment. According to Youn, “The sheer magnitude of what we can accomplish from a humanitarian perspective with very little resources is just staggering.”
Youn and cofounder John Gachunga’s epiphany gave birth to the One Acre Fund (OAF), which provides microfinance, supplies, and insurance to rural African farmers. While OAF is a nonprofit organization driven by compassion, it does not treat farmers as charity cases and does not function as a charitable organization that simply hands out cash and resources without any obligation to repay. In fact, OAF was designed to function on a sustainable business model that lends money and resources to farmers and expects repayment based on a schedule determined by seasonal harvests and market conditions rather than by the more rigid schedules of traditional microfinance.
One of the problems Youn recognized during his internship in rural Africa was the way traditional microfinance had been designed around the needs of people who sold products and services in urban markets. This supported an unsustainable growth of urban micro-entrepreneurs to the neglect of farming and rural development. Because the income of farmers is not constant, but rises and falls according to the seasonal harvest, they had a difficult time attracting microfinance dollars because most of these monies were offered only under regimented repayment conditions that the farmers could not meet. Because of this lack of credit, supplies, and training, rural farming communities were languishing, and farmers were consigned to live in persistent conditions of poverty.
In response to these circumstances, the One Acre Fund sought to work with rural farmers in Burundi, Rwanda, and Kenya to provide a package of agricultural goods and services that would change the market equation that had left the farmers no better off than when they began. The fund set up its training, credit, s ...
The document discusses the increasingly important role of sustainability practitioners in organizations, especially as chief sustainability officers (CSOs). It argues that CSOs play a key role in communicating the business value of sustainability strategies to investors and stakeholders. However, many companies still do not have CSOs and sustainability practitioners do not always have influence or decision-making power equal to their responsibilities. The document calls for more companies to formally recognize the role of CSOs and empower them to steer sustainability efforts as part of the C-suite level of management.
Making the Business Case for Sustainability Guide for PractitionersJeanne von Zastrow
A new, free guide for sustainability practitioners to use in helping to develop a plan to present and make the business case for sustainability initiatives, with many examples from the food industry.
retirement-matters (Stephen Huppert's take on Australian's attitudes to later...Henry Tapper
The concept of retirement has evolved significantly over time. Originally viewed as a point when one stops full-time work, it is now seen as a phase of life lasting decades. This is due to substantial increases in life expectancy and time spent in good health after age 65. While Australians intend to retire around age 65 on average, many actually retire earlier, often for involuntary reasons like health issues. Looking ahead, retirement will likely involve multiple phases of work, learning, volunteering and leisure. Individuals and societies will need to adapt to support longer retirements.
Hedge funds originated as a vehicle to help diversify investment portfolios, manage risk and produce reliable returns over time. While hedge funds’ investor base has evolved over the years – from individuals to institutions such as pensions, universities and foundations – their core goals have not.
This presentation provides a brief overview of the investment approach hedge funds offer their partners.
It also illustrates the many ways hedge fund investments benefit communities and individuals.
Learn more about the global hedge fund industry at: www.hedgefundfundamentals.com.
Retirement Preparations in a New Age of Self-EmploymentAegon
The self-employed have a flexible vision of retirement. They plan on working past traditional retirement age, easing into retirement, and fully retiring at an older age. The Aegon Retirement Readiness Survey 2016
Group health insurance is a popular employee benefit offered by many companies. When structuring a group health insurance plan, companies should select the right insurance partners, figure out participant numbers, and provide effective employee communication. An insurance broker can help companies design the optimal plan by providing personalized quotes from top insurers, managing enrollment and claims assistance, and advising on benefit strategy and cost containment. The basic covers that can be included are coverage for the employee, spouse, children and sometimes parents, along with benefits like maternity coverage, dental, OPD visits and pharmacy reimbursement. Companies typically provide a minimum sum insured of Rs. 200,000 but some set higher limits or corporate buffer amounts. Claim ratios, premium costs and the demography
This document discusses employee ownership and impact investing. It finds that while employee ownership has benefits, it is largely missing from impact investing opportunities. Some emerging options for impact investors include investing in worker cooperatives through community development financial institutions or ESOPs. However, greater awareness and infrastructure is still needed to advance these opportunities and connect employee ownership more fully with impact investing.
Employee benefit Insurance policies guide for Indian CompaniesSusheel Agarwal
Group health insurance is a popular employee benefit offered by many companies. When structuring a group health insurance plan, companies should select the right insurance partners, figure out employee numbers, and provide effective employee communication. An insurance broker can help companies design the optimal insurance program by providing personalized quotes from top insurers, managing enrollment and claims assistance, and recommending strategies to control costs while ensuring employee satisfaction. The core elements of a group health plan include covers for employees, spouses, children, and sometimes parents, as well as benefits like maternity coverage and room cost caps. Premiums are impacted by the number covered, demographics, included covers, and prior claims experience.
444 PART 4 Compensating Human ResourcesL Explain how to.docxgilbertkpeters11344
444 PART 4 Compensating Human Resources
L*? Explain how to
choose the contents ol
an employee benefits
pa c kage.
the employee's current job or {uture careet at tl'rc organization. Ernployees are reirn-
bursed for rhese expenses a{ter rhey demonstrate rhey have .o,,lpl"r"j an approvecl
course.
- .Especially for demanding, high-stress jobs, organizarions rnay look for benefits rhat
help employees put in the necessary |or-r* hours and alleyiate stress. Recreational acriv-
ities such as on-sire basketball courts or con-)pany-sponsored sofrball teams provide for
social interaction as u'ell as physical activity. Ernployers may reward hard-working
groups or individuals with a rip for a weekend, a meai, or any acrivity empl0yees arr
iikely to enjoy. Some companies, including Minneapolis design agency Sevlthsil ar-rcj
Vancouver Web site designer Mezine, ailow ernployees to b.ilg their pets to work.
Mezine cofounder Dean Gagnon explains the benefitr "lt's almoir impossible to have
a bad day u'irl-r a dog i,valking around rhe office."Jl
Seleetf mg Hmp{oys# ffisffieffts
Aithor"rgh the governtnent requires certain benefits, employers have r.vide latitude
in creating the toral benefits prackage rhe1, sffgr employe"s.sz Decisions about rvhich
benefits to inciude shor-rld take into account the organization's goals, its budget, and
the expectarions of the organization's current emploJ,e.s and thole it wishes to recruir
in the future. Employees have corne to expecr ceriain things from employers. An orga-
nization that does r-rot offer the expected benefits rvill have rnore difficulty attractlng
and keeping talented workers. Also, if ernployees believe their ernployer feels ,'ro .o*l
mitment to their ivelfare, they are less likely to feel committed to-their employer.
The Organ fzaf ion's Objectfves
A logicai place to begin selecting employee benefits is to establisl-r objectiyes for rhe
ber-refits package. This helps an organization select the most effective benefits ar-rd
monitor whether the benefits are doing what they should. Table 13.2 is an example
of one organizationt benefits objectives. tJr-rfortunately, research suggesrs that 6rost
organizations do not have written benefits objectives.
_ Among cotnpanies that do set goals, the rnost common objectives include coirtrol-
ling the cost of health care benefits and retaining ernployeer.i' Th" firsr goal explains
the growing use of wellness progralns and consumei.directed health plur-,s. Fo, the
second goal, empioyers need to learn r.vhat employees care abogt. I1 soroe .nser, the
approach rnay be indirect, helping the cornpany distinguish itself as an employer that
certain kinds of employees wiil be attracted to and cornmitted ro. For ."uir1pl", ,
company that establishes itself as committed to the environment could offer benefits
in line rvitir that. goal-say, bicycle storage for cornrnuters and vouchers for takilg
the bus-to *otk'14 Employees with a passion for the environrnenr rvould be especialli
e.
Forward-‐thinking defined contribution retirement plan sponsors are recognizing the benefits of communicating to employees in a language
they can understand: monthly income. Investment solutions focused on income fundamentally improve the participant experience and ultimately deliver better outcomes.
Similar to 10th Annual Study of Employee Benefits Trends (MetLife) -AGOS12 (20)
Este documento presenta los resultados de un estudio de consumo navideño realizado en 2012. Resume las principales tendencias observadas entre los consumidores españoles, incluyendo una mayor preocupación por la situación económica pero más esperanza en el futuro, un enfoque en compras útiles y de bajo precio, y una intención de gasto navideño un 3.9% menor que el año anterior debido a menores ingresos.
Productividad de la Gestión de Recursos Humanos y su Impacto en la Empresa (H...Inspiring Benefits
El Estudio “Productividad de la Gestión de Recursos Humanos y su Impacto en la Empresa” nace con el
objetivo de conocer las políticas de RRHH adoptadas por las principales empresas en España en el contexto de crisis económica y empresarial actual, desde dos perspectivas complementarias:
• Acciones o medidas orientadas a mejorar la propia efectividad/productividad de la función de recursos humanos.
• Acciones o medidas orientadas a mejorar la productividad/efectividad de la gestión de recursos
humanos en la organización.
Los resultados del estudio permiten examinar las prácticas de RRHH desarrolladas por las principales
compañías en España en el actual contexto de crisis económica y ofrecen un punto de reflexión para
nuevas estrategias de gestión de personas.
NdP Universia e Inspiring Benefits lanzan el mayor portal de comercio electró...Inspiring Benefits
Universia, la mayor red de universidades de habla hispana y portuguesa con presencia en 23 países de Iberoamérica, e Inspiring Benefits, el especialista en beneficios para empleados y colectivos, acaban de hacer público su acuerdo para ofrecer un portal de compra online -siempre con descuentos exclusivos añadidos- a más de 1,4 millones de estudiantes y profesores de 79 universidades españoles gracias a la nueva plataforma online Universia Ahorra.
Next-Generation Strategies for Advertising to Millennials (comScore) - ENE12Inspiring Benefits
En este estudio comScore pretende medir la efectividad de impactos publicitarios de TV y digitales y las estrategias más efectivas para dirigirse a los nacidos entre 1981 y 2000, conocidos en terminología anglosajona como "Millennials". (En inglés)
Nota de prensa sobre los resultados de la encuesta anual elaborada por el Instituto Nacional de Estadística sobre el coste laboral durante el año 2011 (español)
Libro Blanco del Comercio Electrónico (Asociación Española de la Economía Dig...Inspiring Benefits
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Javier Diez: La tecnología detrás de un Club de Benefits y los descuentos a e...Inspiring Benefits
Transcripción de la vídeo entrevista en la que Javier Diez Flaquer, Director de Tecnología de Inspiring Benefits, responde a las siguientes cuestiones:
- ¿Qué requerimientos técnicos son necesarios para integrar la plataforma de Inspiring Benefits?
- ¿Cúanto tiempo suele requerir la puesta en marcha del sistema?
- ¿De qué forma se puede ahorrar comprando a través de la plataforma?
- ¿Cómo funciona la Hucha Virtual?
- ¿Se puede acceder a la plataforma desde cualquier lugar o solo desde la Intranet de cada empresa?
- ¿Qué sucede si un usuario tiene alguna duda o incidencia técnica?
Javier Sánchez Reyes: La aportación de Inspiring Benefits a los sistemas de b...Inspiring Benefits
Transcripción de la entrevista en vídeo en la que Javier Sánchez Reyes, Director General de Inspiring Benefits, responde a las siguientes cuestiones:
- ¿Qué aporta Inspiring Benefits a las empresas y colectivos?
- ¿Qué ventajas supone sobre los sistemas de beneficios sociales tradicionales?
- ¿Este sistema es aplicable a pequeñas empresas o colectivos?
- ¿Qué productos o servicios se pueden comprar con descuento a través de la plataforma?
- ¿Cúanto puede llegar a ahorrar un usuario gracias a este club de benefits?
Estudio Manpower de Proyección de Empleo España 3Q 2012Inspiring Benefits
El Estudio Manpower de Proyección de Empleo analiza de forma trimestral desde hace 50 años la intención de los directivos de incrementar o reducir el número de empleados de su plantilla en los próximos tres meses. (En español)
Informe InfoJobs ESADE 2011 - Estado del mercado laboral en España MAYO12Inspiring Benefits
Este documento resume el estado del mercado laboral en España en 2011 según un informe de InfoJobs y ESADE. Resalta que España sigue sufriendo los efectos de la crisis económica mundial iniciada en 2008, con una economía estancada y la tasa de desempleo más alta de la Eurozona en 2011, del 21,6%. Aunque la crisis comenzó en el sector financiero de EE.UU., se ha convertido en una crisis de deuda soberana en Europa que ha llevado a recortes presupuestarios que están afectando negativamente al empleo en
El documento presenta la guía laboral Workpocket 2011 publicada por Randstad. La guía ofrece información sobre el mercado laboral español, la legislación laboral, los estudios, la formación profesional, los contratos laborales, la prevención de riesgos, las nóminas y la Seguridad Social. Randstad, líder mundial en soluciones de recursos humanos, publica la guía anualmente para mantener informados a trabajadores y empresas sobre las novedades en el mundo laboral.
El Randstad Workmonitor, es un estudio internacional sobre las expectativas laborales de los trabajadores que se lleva a cabo en 32 países de todo el mundo (incluido España), entre trabajadores de 18 a 65 años con un mínimo de 24 horas a la semana con empleo remunerado por cuenta ajena.
Aon Hewitt 6th European HR Barometer Executive Summary (2011)Inspiring Benefits
The survey of European HR leaders found that confidence in the economic outlook for 2011 was higher compared to previous years. HR priorities were focused on developing talent, engaging employees, and retaining key staff. While revenues and investment were expected to grow faster than in 2010, employment growth was expected to be moderate. HR leaders saw opportunities in expanding to new markets but recognized tensions between organizational values and daily practices. The top concerns for HR included the mismatch between workforce skills and needs, cost pressures, and changes in company culture. Priorities for HR included leadership development, engagement, retention, and integrating HR IT systems. Areas where HR needed most support were developing leaders, assessing HR impact, retention, and engagement. HR leaders emphasized the need for a true
España ocupa el cuarto puesto a nivel mundial en la aplicación de políticas d...Inspiring Benefits
¿Cómo motivar a los empleados en tiempos de crisis si en la mayor parte de las empresas se impone el imperativo de congelación salarial? La respuesta está en poner en práctica políticas de beneficios sociales y aplicar nuevos modelos como el Club de Benefits. Para hablarnos de esta tendencia, hemos entrevistado a Javier Sánchez Reyes, director general de Inspiring Benefits, el club de beneficios líder en España.
La reforma laboral de 2012 introdujo varios cambios clave para promover la contratación y flexibilidad en el mercado laboral español. Permitió que las empresas de trabajo temporal operen como agencias de colocación privadas para acelerar el encuentro entre oferta y demanda de empleo. Asimismo, mantuvo las normas sobre contratación temporal pero rescató la prohibición de encadenar contratos temporales más allá de 24 meses de forma consecutiva. Finalmente, la reforma buscó dar más flexibilidad a las empresas ante dificultades económicas facilitando opcion
Nuevas herramientas de fidelización - El Club de Benefits para empleados (F....Inspiring Benefits
En este informe se describen las últimas tendencias en esquemas de beneficios sociales flexibles y especialmente las relacionadas con la modalidad de Benefits Club para empleados.
Las principales conclusiones del estudio son:
• la situación económica actual está induciendo un deterioro en la relación entre empleados y empresas;
• los modelos de beneficios flexibles son un factor de motivación importante que actúa como elemento de retención del talento;
• España está en el grupo de cabeza mundial en programas de beneficios flexibles, pero tanto el abanico de ofertas como las opciones de flexibilización son muy inferiores a las que se aplican en los países anglosajones. Las posibilidades de crecimiento en esta área son inmensas;
• el modelo de Benefits Club aporta valor a las empresas y a los empleados. Es una forma muy rentable de incrementar la satisfacción y la fidelidad de los empleados;
• la tendencia predominante es que los Benefits Club sean gestionados por proveedores externos especializados que se responsabilicen de proporcionar la plataforma tecnológica, comunicar e incrementar la oferta a los empleados, gestionar la flexibilización del plan y obtener y procesar la información que permita el seguimiento y evaluación del mismo;
• el 72% de las pymes españolas no tiene programa de beneficios sociales para sus empleados. El modelo de Benefits Club es una fórmula sencilla y económica de resolver esta carencia.
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But wait. What happens when you fully integrate your WhatsApp campaigns with HubSpot?
That's exactly what we explored in this session.
We take a look at everything that you need to know in order to deploy effective WhatsApp marketing strategies, and integrate it with your buyer journey in HubSpot. From technical requirements to innovative campaign strategies, to advanced campaign reporting - we discuss all that and more, to leverage WhatsApp for maximum impact. Check out more details about the event here https://events.hubspot.com/events/details/hubspot-new-delhi-presents-unlocking-whatsapp-marketing-with-hubspot-integrating-messaging-into-your-marketing-strategy/
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Kirill Klip GEM Royalty TNR Gold Copper Presentation
10th Annual Study of Employee Benefits Trends (MetLife) -AGOS12
1. 10 th Annual
Study of Employee
Benefits Trends
Seeing Opportunity in Shifting Tides
2. 10th Annual MetLife Study of Employee Benefits Trends
“A pessimist sees the difficulty in every opportunity;
an optimist sees the opportunity in every difficulty.”
— Sir Winston Churchill
The Star Fish
A favorite of beachcombers of all ages, the star
fish (or sea star) lives in all the world’s oceans
from tropical climates to polar habitats. This
iconic creature is found in a wide variety of sizes
and colors but always with the recognizable star
shape. The star fish is a smart survivor being able
to regenerate its arms and eat a diverse range of
foods – even surviving for several weeks without
feeding. It is best spotted at low tide in rocky pools
where it stands out clearly from its environment.
In common with the star fish, employers who see
opportunity for benefits to drive business bjectives
o
despite shifting economic tides, also stand out
from their surroundings as they recognize ways to
leverage employee benefits both in good times
and bad.
4
3. Table of Contents
Introduction
10th Anniversary — What a Difference a Decade Makes 02
Key Findings
Shifting Tides — A Bigger Opportunity for Benefits 05
Section 1
Seeing Opportunity for Benefits to Drive Business Goals 08
Section 2
Identifying Opportunity to Engage Employees in the Benefits Discussion 20
Section 3
Expanding Opportunity for Income Protection and Financial Security 34
Section 4
Realizing the Generational Opportunity in the Post-Recession Workforce 56
Methodology
74
1
4. Introduction
10th Anniversary —
What a Difference a Decade Makes
The 10th anniversary edition of MetLife’s Annual Study of Employee Benefits Trends
marks a decade of exploring an evolving benefits landscape from the point of view
of employers and employees across all U.S. regions, industries and company sizes.
Through both robust years and through turbulent economic times, the Study has
identified significant key findings and insights that have served to inform and shape
today’s benefits strategies for employers and their advisors.
Over the last decade, the Study has found that employers’ top benefits objectives –
to control costs, attract and retain employees and increase productivity – have
remained fairly consistent over time, with slight shifts in priority often indicative of
a good or poor economy. However, because the face of the workforce has changed
over ten years, the strategies that employers use to achieve those same objectives
must also change.
Year-over-year, the Study shows what strategies are working and with what results –
highlighting how employers might want to shift strategies in light of the findings
and enabling them to make informed decisions.
2
5. Introduction
Then and Now — A Look Back Across Ten years have seen health care costs explode,
and in tandem, the Study has explored ongoing
Ten Years of the Study
efforts by companies to control the impact. In
Ten years ago the millennial generation, 2005, larger companies were implementing
Gen Y,i was hardly on the front burner for wellness programs to improve the health of
workforce management. Today, this generation their workers and the Study has monitored both
is redefining what benefits will mean in the the spread of such wellness programs to smaller
coming decade. The Study illustrates how organizations and the growing perceived value
generational concerns and expectations change of wellness initiatives. Health care reform
over time. In 2003, only 33% of employees reemerged as a national debate in 2008 and the
age 21-30 were very worried about running uncertainty associated with the implementation
out of money in retirement. Today, their of the Patient Protection and Affordable Care
outlook shaped by the recession, 52% of Act is a notable backdrop to this year’s findings.
this age group are focused on their long
Ten years ago, the term “financial wellness”
term financial security.
was relatively unknown. Now, employers
Ten years ago many Baby Boomers were looking increasingly recognize that the financial
at the prospect of retiring before age 65. health of their employees has an impact on
The looming concern was about the pending productivity. As a result, the focus of wellness
“Boomer exodus” and the resulting knowledge programs is expanding beyond physical
loss for the American workforce. Today, wellness to include financial wellness.
Boomers are wearily eyeing working beyond
Ten years ago voluntary benefits – products
the age of 65.
made available through the employer-
Ten years ago retirement security was about sponsored plan for which employees pay
savings growth. Today the conversation has 100% of the premium through payroll
shifted to that of creating and protecting deductions – were found mostly in larger
an adequate income stream. In conjunction, companies and served to boost employee
innovative retirement solutions have emerged satisfaction. Over the last decade, and despite
in the workplace, such as income projection the recession, voluntary benefits offerings
statements, automatic enrollment in 401(k) have gained traction – especially in smaller
plans and growing interest in annuities to help companies with fewer than 100 employees.
employees be better prepared for a secure In addition, the menu of programs has
retirement. broadened to bridge coverage gaps in the
areas of core health, wellness and financial
protection in order to help offset the trend
of cost sharing and higher out-of-pocket
expenses faced by employees.ii
3
6. 10th Annual MetLife Study of Employee Benefits Trends
One of the Study’s most significant findings is Ten years ago employees expected benefits, but
the strong relation hip between satisfaction
s were far less engaged in their true value. Today,
with benefits and job satisfaction. First noted new economic realities are driving employees to
in 2004 and every year since, this correlation more fully appreciate the coverages that their
creates compelling evidence for the power of employers provide – even if they have to pay
benefits to drive a universal set of business more of the costs themselves. Today, workplace
objectives – employee attraction, retention and benefits are an indispensable ingredient in
productivity. It is a central tenet for benefits how the working American family achieves
professionals and justifies benefits investment short- and long-term financial security. Indeed
to senior management. it’s unlikely that workplace benefits have ever
been as desirable or important as they are in
the current era.
4
7. Key Findings
Shifting Tides —
A Bigger Opportunity for Benefits
The 10th anniversary edition of MetLife’s Annual Study of Employee Benefits Trends
delivers strong confirmation that despite uncertain and shifting tides, the potential
of benefits to help attract and retain key talent and improve employee productivity
is stronger than ever.
As employees struggle to make ends meet and plan for the future against a
backdrop of rising concerns about potential cutbacks to Social Security and
Medicare, the Study reveals that employers are anticipating a growing employee
dependence on the benefits they provide.
A key finding this year is that 60% of surveyed employers recognize
the precarious economic climate, rather than reducing business focus on
employee benefits, actually creates opportunity for benefits to drive
human capital objectives.
5
8. 10th Annual MetLife Study of Employee Benefits Trends
Employers who see opportunity for benefits to drive business goals are
identified in the Study as “Progressives” for their optimistic perspective on
benefits in difficult conditions. Employers who do not see opportunity are
identified as “Standards.” The attitudes and actions of these two groups are
examined throughout the Study and provide contrasting perspectives on how
employers, this year, are viewing strategies and opportunities in benefits.iii
Employers remain committed to benefits – the Study continues to identify areas of
opportunity for improving benefits effectiveness and return on investment.
This year, employers are:
Remaining steadfast in support of benefits. Still not seeing benefits through employee
Seventy percent (70%) of employers report eyes. Employers continue to be out of step
they intend to maintain their current level of when it comes to recognizing which benefits
employee benefits – even if some (30%) will engender feelings of loyalty in their employees.
do this by shifting costs to employees. The Study shows that employers significantly
undervalue the power of non-medical benefits
Recognizing the need and responsibility to help
such as life, dental, disability and vision
employees achieve financial security. Seventy-
coverages to help satisfy and retain workers.
five percent (75%) of surveyed employers
recognize that potential holes in Social Security Receiving the message on voluntary benefits.
and Medicare safety nets will cause employees Forty-one percent (41%) of surveyed employers
to look to their workplace for help. And now say that voluntary benefits are a significant
54% agree that it creates a responsibility to benefits strategy – up from 32% last year.
maintain, if not expand, retirement benefits With an increasing appreciation for workplace
in this event. The Study clearly indicates that benefits, Generations X and Y express an
help is unlikely to take the form of increased especially strong interest in being able to
benefits expenditure. However, opportunities choose from a selection of voluntary benefits
for enhancing employee financial wellness that they are willing to pay for on their own.
are apparent in new findings about the
effectiveness of financial education, as well
as the payback for employers in terms of
employee retention and improved productivity.
6
9. Key Findings
Tuning into the voice of the younger job satisfaction and loyalty to employers.
generation. The Study reveals an increase Two-thirds (66%) of Gen Y employees said
this year in the number of employers who are that economic conditions are causing them
building a generational perspective into their to look more seriously at achieving financial
benefits programs. But there is still room to security through their employee benefits.
do more. The Study provides insights as to how
referring to obtain benefits at work. Half
P
employers can tap into benefits to attract and
(50%) of employees agree that obtaining
build loyalty in their younger workers.
insurance products through the workplace
is easier than elsewhere. In addition, 87% of
This year the Study finds employees those who own disability income protection
insurance and 64% of those who own life
less committed to their employers but,
insurance obtained it through the workplace.
at the same time, highly dependent on
Bracing for benefits cuts that may not come.
their workplace benefits.
Thirty-three percent (33%) of surveyed employees
think the economy will cause their employers
Employees are:
to reduce benefits. However, only 10% of
Less loyal. Loyalty towards employers continues employers say they plan to reduce benefits.
to decline and has now reached a seven year Reassuring employees on this issue could
low. Job insecurity and expectations that increase employee satisfaction with benefits
benefits will be cut are no doubt contributing and, in turn, job satisfaction. Once again the
factors. Insights from this Study, especially Study confirms the strong link between the two.
around ways to make benefits more relevant
A long way from financial security. About
and recognized, can help employers improve
one in four employees is significantly behind
this situation.
in financial planning and 35% of Younger
Still looking to leave. Again, this year the Study and Older Boomers plan to delay retirement
reveals that approximately one in every three because of the economy. In addition, there are
employees hopes to be working for a different concerns about potential gaps in Social Security
employer in 2012. This number increases and Medicare benefits – especially for younger
precipitously for Gen Y. workers. While 63% of employees strongly
agree that they must accept greater individual
Counting strongly on employee benefits. Nearly
responsibility for financial security, more than
half (49%) of employees surveyed say that
ever they are turning to employers for support
because of the economy, they are counting on
with this challenge.
their employer to help them achieve financial
security through a range of employee benefits Hoping for help from their employers with
such as dental, disability and life insurance. financial education and planning. The Study
reveals advantages to employees and employers
More interested in benefits at a younger
for providing these programs and shows that
age. This year’s Study reveals fundamental
Gen X and Gen Y have a stronger appetite for
differences between the way younger and
financial education in the workplace than might
older workers view employee benefits,
be expected given their age and life stage.
financial decision-making, career planning,
7
10. Section 1
Seeing Opportunity for Benefits
to Drive Business Goals
The ongoing financial crisis, beginning in 2008, has precipitated a complex web
of global economic and business challenges with which employers continue to
struggle. Contributing to this financial uncertainty is the looming impact of health
care reform. Employers and their advisors remain unclear about the ultimate effects
and implications of the Patient Protection and Affordable Care Act on their benefits
models. Indeed, nearly a third of employers surveyed say that they don’t know what
their company’s response will be – the same result as a year ago.
Yet, despite a difficult and shifting business climate, employers are not retreating
from their workplace benefits commitments. As the 10th Annual MetLife Study of
Employee Benefits Trends clearly demonstrates, employers remain committed to
their benefits offerings, and for many employers benefits are increasingly about
business opportunity.
Employers Say Current Economic Conditions Give Rise to Opportunity
This year the Study added a new question to explore whether the adverse economy
might be reducing the focus on employee benefits to achieve business objectives.
In fact, the Study results point to the opposite: 60% of employers surveyed reported
that the precarious economic climate actually creates opportunity to drive human
capital objectives with benefits.
8
11. The Progressive Phenomenon
Employers who see opportunity in the current economy for benefits to drive
business goals are identified in the Study as “Progressives” for their optimistic
perspective on benefits and ability to see opportunity in difficult economic
conditions. Employers who do not see this opportunity are identified as
“Standards.” The attitudes and actions of these two groups are examined
throughout the Study and provide contrasting perspectives on how employers,
this year, are viewing strategies and opportunities in benefits.
FIG 1.1
Current economic conditions create opportunity for benefits to improve employee
attraction, retention and productivity because employees will become increasingly
dependent on their company benefits
%
Progressive employers
(agree)
%
Standard employers
(do not agree)
9
12. 10th Annual MetLife Study of Employee Benefits Trends
Progressive Employers Are Found Across the Board
Progressives are not limited to large companies with rich benefits programs. While opportunity is more
clearly identified by the largest corporations, nevertheless, nearly half of employers in smaller companies
see opportunity to leverage employee benefits in the current economic climate.
FIG 1.2
Employers in companies of all sizes identify as Progressives
Progressive employers by company size
All Under 50 Under 500 500 or more 5,000 or more 10,000 or more
companies employees employees employees employees employees
60% 46% 49% 76% 78% 81%
10
13. Seeing Opportunity for Benefits to Drive Business Goals
Progressive Strategies Stand Out
According to the results of the Study, Progressive employers clearly view benefits differently from Standards,
and this is manifested in the way that Progressives place more importance on leveraging employee benefits
to achieve benefits objectives for attraction, retention and productivity. In addition, Progressives indicate a
stronger stated responsibility to pay part of the costs for the benefits offered to employees.
FIG 1.3
Progressive employers see more opportunity to achieve business objectives
through benefits
Benefits objectives that employers agree are very important
Progressives
%
Retaining employees Standards
%
Progressives
% Labels separate from chart
Increasing employee productivity Standards %
Crop text box as tight as possible,
then distribute vertically
Progressives
%
Attracting employees Standards
%
11
14. 10th Annual MetLife Study of Employee Benefits Trends
FIG 1.4
Progressive employers see a greater role for benefits in attracting and retaining
employees
Employers who strongly agree that the benefits they offer
Progressives
%
Are a very important reason
employees remain with them Standards
%
Progressives
Are a very important reason
%
employees choose to work Standards
for them
%
Progressives
FIG 1.5
Progressive employers see a greater responsibility to pay part of the costs for the
benefits offered to employees
Employers who strongly agree
Progressives
Our company has a responsibility %
to pay part of the costs for the
Standards
employee benefits offered to %
employees
Progressives
%
12 Progressives
15. Seeing Opportunity for Benefits to Drive Business Goals
Employers Remain Steadfast in Support of Benefits
The economy is certainly an impediment for benefits budgets: 40% of surveyed employers report that they
strongly agree current economic conditions will challenge their ability to sustain levels of employer-paid
coverage. Yet it is noteworthy that overall 70% of employers report they intend to maintain their current
level of employee benefits – even if some (30%) will do this by shifting costs to employees.
This commitment to maintaining benefits is seen across all company sizes.
FIG 1.6
Regardless of size few companies are expecting to reduce benefits
Actions employers are most likely to take regarding their benefits
given the current economic conditions
All Under 50 Under 500 500 or more 5,000 10,000
companies employees employees employees or more or more
employees employees
% % % % % %
Maintain current
benefits
% %
%
Maintain current % %
benefits by %
cost shifting to
employees
Reduce benefits % % % % % %
Other % % % % % %
Not sure % % % % % %
13
16. 10th Annual MetLife Study of Employee Benefits Trends
The Study indicates that employers who expect the economy to hinder their ability to sustain benefits are
more likely to maintain the program with cost-shifting and are also more likely to reduce benefits compared
to those who see fewer budgetary threats to the program. Nonetheless, even the most cost-challenged
employers still report being more likely to maintain benefits.
FIG 1.7
Two-thirds of employers reporting economic challenges to their programs still plan
to maintain their current benefits offerings
Actions employers are most likely Employers who say current Employers who say current
to take regarding benefits given economic conditions WILL hinder economic conditions WILL NOT
economic conditions offering benefits hinder offering benefits
Maintain current benefits % %
Without cost shifting to
employees % %
With cost shifting to employees % %
Reduce employee benefits
% %
14
17. Seeing Opportunity for Benefits to Drive Business Goals
FIG 1.8
Progressive employers are more likely to maintain current benefits programs than
Standards who see less business opportunity for benefits in the current economy
Actions employers are most likely
to take regarding benefits given
current economic conditions Progressives Standards
Maintain current benefits % %
Without cost shifting to
employees
% %
With cost shifting to employees % %
15
18. 10th Annual MetLife Study of Employee Benefits Trends
Facing Forward —
Benefits Five Years from Now
It appears that cost-shifting may not be going away anytime soon. But this is not at all at odds with the
opportunity delivered by benefits. Instead, it appears to be a means to an end for achieving some benefits
objectives. This trend towards employee-paid benefits is seen more clearly by Progressives.
Fig 1.9
Employers agree that in the next five years it is likely that employees will pay more
of the cost of benefits offered as a result of current economic conditions
Employers who agree
%
Progressives
%
Standards
16
19. Seeing Opportunity for Benefits to Drive Business Goals
Most Employers Will Stick with Current Programs and Coverages
With respect to plans for specific types of benefits and coverage levels, most employers surveyed (81%) state
that over the next 18 months, they intend to maintain the current coverage levels for medical and non-medical
benefits (life, dental and disability insurance). Employees should feel reassured that more employers indicated
they are likely to increase rather than decrease most benefits.
Fig 1.10
Continued health coverage and protection products are endorsed by employers
who plan to offer these benefits
Employers indicate they will make the following
changes to benefits in the next 18 months Increase Keep same Reduce
Number of core non-medical benefits programs
(life, dental, disability)
% % %
Number of health and wellness programs
(excluding medical insurance)
% % %
Number of voluntary benefits offered (long-term
care, critical illness, optional life, optional disability)
% % %
Coverage levels of disability insurance % % %
Coverage levels of life insurance % % %
Coverage levels of dental insurance % % %
Coverage levels of vision insurance % % %
Coverage levels of health insurance % % %
17
20. 10th Annual MetLife Study of Employee Benefits Trends
“I’m counting on Employees Counting on More Help –
the benefits always… Employers Are Willing
because it’s kind More than ever, employees are looking to their employers for help.
of like part of your Nearly half (49%) of all employees surveyed say that because of the
compensation...” economy, they are counting on their employer to help them achieve
financial protection through a range of employee benefits, for
— Gen X example, dental, disability and life coverages.
A Reality Check for Employees
“The employer used According to the Study, one in three employees (33%) believes that
to pick up most of it is likely that their benefits will be reduced as a result of prevailing
economic conditions. However, the fact is that employees are bracing
the tab… but now I
for bigger benefits cuts than employers actually appear to be planning.
contribute significantly Reassurance on this good news, where possible, could help reduce
to my benefits package, employee concerns and boost job satisfaction.
out of my own pocket, Employees appear to understand the realities of rising benefits
due to rising cost.” expenditure and shrinking resources, but rather than lose benefits,
— Gen X 59% say they are willing to bear a bigger share of the cost – a
finding that should give employers more confidence about the
effects of cost-shifting when it is necessary.
FIG 1.11
Employees expect more benefit cuts than employers are planning
Employees Employers
Due to current economic conditions benefits will be reduced 33% 10%
18
21. Seeing Opportunity for Benefits to Drive Business Goals
Facing Forward —
Benefits Five Years from Now
Fifty-six percent (56%) of employers surveyed expect to continue to pay for medical insurance when the
Patient Protection and Affordable Care Act is fully implemented. Compared with Standard employers,
Progressives are even more committed to maintaining medical benefits.
FIG 1.12
Employers agree that in the next five years their company will continue to pay for
most of the cost of medical insurance under any circumstances they can foresee
Employers who agree
%
Progressives
%
Standards
19
22. Section 2
Identifying Opportunity to Engage Employees
in the Benefits Discussion
A Strong Connection Continues Between Benefits Satisfaction,
Employee Loyalty and Job Satisfaction
The role of workplace benefits in driving employer business objectives for employee
attraction, retention and productivity has been a hallmark finding of this MetLife
Study over the years and continues through today’s difficult economy.
Once again, the Study demonstrates that satisfaction with benefits is connected to
employee job satisfaction, and also confirms that employees who are dissatisfied
with their benefits are more likely to want to work elsewhere.
20
23. Fig 2.1
Employees who are very satisfied with benefits are nearly three times as likely
to say they are very satisfied with their jobs and less likely to plan to leave
Employees who are Employees who are
very satisfied with very dissatisfied with
benefits benefits
I am very satisfied with my job
70% 23%
I do not plan on leaving my current
employer in 2012 59% 38%
“I took my job at less wages for more benefits, I switched positions because I
thought the benefits outweighed the income… Because it’s a security blanket,
that’s more important than the almighty buck.”
— Older Boomer
21
24. 10th Annual MetLife Study of Employee Benefits Trends
Satisfaction with benefits also influences employee feelings of company loyalty. Yet despite this evidence
that benefits are an important way to help foster retention, the Study suggests that employers are not always
tuned into the most effective ways to potentially increase their employees’ appreciation of the benefits they
receive at work.
Fig 2.2
Employee loyalty is linked to satisfaction with benefits – employees who are very
satisfied with their benefits are more likely to feel loyal to their employer
Employees who are Employees who are
very satisfied with very dissatisfied
benefits with benefits
I feel a very strong sense of loyalty to my employer 61% 24%
My employer has a very strong sense of loyalty to me 48% 12%
22
25. Identifying Opportunity to Engage Employees in the Benefits Discussion
Loyalty Gap Not Only Persists, It Expands
A gap in the employee-employer perceptions of company loyalty towards employees has been a long-running
story for the Study. And this year is no exception. However, instead of progress in narrowing the gap, the
Study finds evidence of a widening disconnect. Job insecurity and expectations that benefits will be cut are
no doubt contributing to employees feeling less important to their employers.
This “loyalty gap” signals a troubling misperception that employers should take seriously, because an
employee who feels more expendable is likely to be less engaged and committed. Insights from this Study –
especially around ways to make benefits more relevant and recognized – can help those who see benefits
as an opportunity discover ways to improve this situation.
Fig 2.3
A widening gap between employer and employee perceptions of company loyalty
towards employees
Employers who feel % % % %
a very strong sense of
loyalty to employees
Employees who
believe their employer
has a very strong sense
% %
of loyalty to them % %
2008 2009 2010 2011
23
26. 10th Annual MetLife Study of Employee Benefits Trends
Fig 2.4
Measures of absolute loyalty continue to decline and now reach a seven-year low
Employees who feel a very strong sense of loyalty to their employers
% % % % %
% %
2005 2006 2007 2008 2009 2010 2011
“There’s not as much A Third of Employees Still Have One Foot Out of
loyalty as there once was. the Door
People used to work for Given the wide gap in loyalty perceptions, along with declines in actual
companies for 20, 30 employee loyalty over time, it is no surprise that the strong flight risk
years and that was their evidenced in last year’s Study is still apparent this year. The Study again
reveals that approximately one in every three employees hopes to
job, one job for life. Now,
be working for a different employer in 2012. This number increases
if you stay for two years, precipitously for Gen Y (see Section 4).
it’s a long time.”
An employer might be tempted to see this flight risk as inconsequential
— Older Boomer in today’s economy. However, while national unemployment rates
appear to support that conclusion, the overall statistics mask a
serious talent and skills shortage in specific industries and for strong
management and leadership. A recent survey from Towers-Watson
indicates that, increasingly, many employers are having trouble
recruiting and retaining top-performing and critical-skill workers
compared to three years ago.iV
24
27. Identifying Opportunity to Engage Employees in the Benefits Discussion
FIG 2.5
One in three employees reported that if it is their choice they hope to be working
for a different employer this year – comparable to last year’s findings
Last year This year
36
Employees who agree
% 34
Employees who agree
%
Dissatisfied Employees Are a Productivity Drain
Admittedly, in today’s prevailing economic climate, it is more difficult for employers to address workforce
ambitions to move ahead. But unhappy employees can be a productivity drain. Those who say they hope to
be working elsewhere in the next year are nearly three times as likely to admit to a decrease in the quality
of their work.
It therefore makes sense for employers to leverage their employee benefits to address workforce productivity
and retain irreplaceable key contributors.
Seeing Benefits Through Employee Eyes
For employers interested in realizing the optimal return on their benefits investment, it is hard to overstate
the necessity of achieving an up-to-date understanding of employee viewpoints when it comes to what
employees want and value in their benefits. Without this insight, employers may be leaving important
opportunities on the table – opportunities to better serve employee needs and improve their return on
investment for the benefits program. However, the Study shows that employers are often out of step
with their employees when it comes to which benefits actually move the needle on employee loyalty.
25
28. 10th Annual MetLife Study of Employee Benefits Trends
Fig 2.6
Employers especially underestimate the power of non-medical coverages, retirement
and voluntary benefits to drive employee loyalty
Benefits are very important for feelings of loyalty to the company
Employees %
Salary and wages
Employers %
Employees %
Health benefits
Employers %
Employees %
Retirement benefits
Employers %
Employees %
Advancement opportunities
Employers %
Non-medical benefits
Employees %
(dental, disability, vision, life)
Employers %
Employees %
Company culture
Employers %
Employees %
A choice of voluntary benefits
Employers %
26
29. Identifying Opportunity to Engage Employees in the Benefits Discussion
A Custom Fit for Benefits “I would say decent
Variety, flexibility and personalization are ways to increase the insurance, life insurance,
relevance and value of benefits for employees. And, at the same time, health insurance. Those
make them more effective for employers. Yet, when employers indicate things are the core of
the likelihood of benefits moving in this direction in the next five years,
my financial happiness.”
it is an opportunity that appears to be missed by many.
— Gen X
Fig 2.7
Employees have a different perspective on the value of personalized benefits than
most employers
As a result of current economic conditions
Benefits changes
Benefits scenarios employers believe are likely
employees value in the next five years
More personalized benefits geared to employee
age groups 73% 53%
More personalized benefits geared to individual
circumstances 74% 53%
A greater variety of benefits to choose from 73% 50%
27
30. 10th Annual MetLife Study of Employee Benefits Trends
Facing Forward —
Benefits Five Years from Now
Fig 2.8
Progressive employers are more likely to predict a greater role for benefits choice
and personalization in the future
Benefit changes employers believe are likely in the next five years
Progressives
More personalized benefits
%
geared towards employees’ Standards
age groups %
Progressives
More personalized benefits
%
geared towards individual Standards
circumstances %
Progressives
%
A greater variety of benefits
Standards
to choose from %
28
31. Identifying Opportunity to Engage Employees in the Benefits Discussion
Voices Are Heard on the Value of Voluntary Benefits
Voluntary benefits, those that employees pay 100% of the cost, are a way to address employee appetite
for benefits that are more flexible and personalized. And this year the Study shows that nearly half (49%)
of employers appear to be hearing their employees’ call for a wider variety of voluntary benefits.
Across the board, benefit strategies reflect a greater emphasis on these offerings compared to last year. And 42%
of employers who currently do not offer voluntary benefits say that they plan to do so in the next two years.
Fig 2.9
This year employer voluntary benefits strategies are more in sync with employee
interest in having a wider range of voluntary benefits from which to choose
2010 2011
Employees who agree that they are interested in a wider array of
voluntary benefits that they can choose to purchase and pay for 52% 51%
Employers who agree that voluntary benefits are a significant part
of their benefits strategy 32% 41%
Fig 2.10
Voluntary benefits are growing in strategic importance across all sizes of companies
Employers who agree that voluntary benefits are a significant part of their company’s benefits strategy
All Under 50 Under 500 500 or more 5,000 or more 10,000 or more
Year companies employees employees employees employees employees
2010 32% 23% 26% 43% 47% 52%
2011 41% 27% 31% 57% 57% 58%
29
32. 10th Annual MetLife Study of Employee Benefits Trends
Much More Than a Cost-Shift Play
As trong voluntar benefits s
y trateg is certainly compatible with cos s ifting but a o offer much more tha
y t-h ls s n
as olution to budgetar press res Employer cite a wide variet of rationa for offering voluntar benefits
y u . s y les y .
The Stud s ows that replacing traditiona core employerpaid benefits (s ch a medica, life a dis y
yh l - u s l nd abilit
coverages is the lea importa a recognition that voluntar benefits offer a wa to provide greater choice
) s
t nt nd y y
without a significa budget impact is mos importa .
nt t nt
Fig 2.11
Employers are more likely to offer voluntary benefits as a cost effective way to
increase employee options and choices than for replacing employer-paid benefits
Employers agree they offer voluntary benefits for the following reasons
To expand the types of benefits offered without
increasing benefits costs
%
To give employees more choices to meet the
diverse needs of the employee population
%
To help fill gaps in benefits/coverage %
To help employees achieve greater financial
security through protecting themselves in case
of illness, disability, or death
%
To replace employer-paid benefits programs
and reduce company benefits costs
%
30
33. Identifying Opportunity to Engage Employees in the Benefits Discussion
Progressives Are Well Ahead of the Voluntary Benefits Curve
Progressive employer are much more likely to clearly perceive their employees’ interes in voluntar
s ts y
benefits products a to prioritiz a voluntar benefits s
nd e y trateg. By s doing, the demons
y o y trate that
providing employees with more choice a options in their benefits program is not dependent on deep
nd
corporate pockets or expa nding the benefits budget .
Fig 2.12
Voluntary benefits strategies for Progressives more closely align with
employee views
Employers agree
Progressives
Employees are interested in
%
a wider range of voluntary Standards
benefits products
%
Progressives
Voluntary benefits are a
%
significant part of the company’s Standards
benefits strategy
%
Progressives %
31
34. 10th Annual MetLife Study of Employee Benefits Trends
Facing Forward —
Benefits Five Years from Now
Fig 2.13
%
Employers agree that in the next five years
employee-paid benefits will become a more
important strategy than they are today 62
Employers who agree
32
35. Identifying Opportunity to Engage Employees in the Benefits Discussion
Windows of Opportunity —
Strategic Steps Employers Can Take to Act on Study Insights
Encourage employees to interact with Raise voluntary benefit offerings
benefits programs. above the crowd.
When possible personalize. Enrollment records I
ncrease competitiveness and employee appeal.
from carriers and consultants can help with Offer non-traditional products.
personalization.
Supplemental health products – such as
Simplify communications. Avoid legal contractual critical Illness, accident and hospital indemnity
language and streamline messages to make them insurance products to help employees afford
quick and easy to understand. unexpected out-of-pocket medical costs.
Brand benefits. Create a look and feel to brand Legal services – convenient and affordable
the overall benefits programs, drawing attention access when needs arise (such as identity theft
to their breadth, and allowing employees to resolution, will preparation, adoption, etc.).
interact with a “single face.”
Auto and home protection insurance – adds
Never underestimate the power of face-to-face the convenience of payroll deduction and
interaction. Employees still value the ability to group rates.
talk to someone in person about their situation.
Long-term care – provides both care options
and protects financial assets.
Find the benefits gaps.
Promote specific voluntary benefits throughout
Conduct an employee survey. Assess how
the year.
employees perceive their current benefits
programs and where they see the gaps. Reach the newly hired as well as employees
who may have experienced a change in their
life. During open enrollment, voluntary benefits
may get lost in the sea of communications.
33
36. Section 3
Expanding Opportunity for
Income Protection and Financial Security
Concern about Government Shortfalls Creates Greater Dependence on
Employee Benefits
According to the Study, 75% of employers recognize that potential holes in Social
Security and Medicare safety nets will make employees increasingly look to their
workplace for help in their quest for financial security. If government programs can
no longer be counted on, what actions can employers realistically take given the
current business economy to help employees? And what is the payback for doing so?
The 10th Annual MetLife Study of Employee Benefits Trends provides some insight
on these important questions.
34
37. “Why I feel somewhat insecure – the uncertainty of the economy down the road
and whether or not what I will be getting from Social Security or retirement
would be enough to cover the rise of expenses and the cost of living and that
kind of thing.”
— Older Boomer
“I have a 401(k) and feel like I’ve worked my entire life – and [if] Social Security is
still around I might have it but I might not… I just feel like… the closer you get
the further the goal is moved out.”
— Older Boomer
Fig 3.1
Potential holes in government safety nets could mean greater dependence on
workplace benefits
Employers who agree that potential reductions
to Social Security and Medicare will make
employees increasingly dependent on the
retirement benefits the company provides.
75 %
35
38. 10th Annual MetLife Study of Employee Benefits Trends
Employers Split on Responsibility to Step Up in the Event of Government Shortfalls
Fifty-four percent (54%) of companies feel a sense of responsibility to support employees in the face of
potential retirement challenges such as reductions in Social Security and Medicare. However, the percentages
differ depending on the size of the organization. Not surprisingly, 69% of large companies (10,000 or more
employees) report a sense of responsibility to do more, compared with 45% of the smallest companies (fewer
than 50 employees).
Fig 3.2
Employers split nearly evenly on the question of responsibility to maintain, if not
expand, retirement benefits in the event of potential reductions in Social Security
and Medicare
54
Employers Who Agree
% 46 %
Employers Who Do Not Agree
36
39. Expanding Opportunity for Income Protection and Financial Security
An Emerging View of Employee Financial Security as an Employer-
Employee Partnership
Although many employers report plans to maintain benefits, the Study illustrates that at this time, 46%
feel that the burden of financial security should rest on employees’ individual savings efforts. Nonetheless,
nearly a third (32%) perceive a partnership – a model for financial security which couples individual savings
with employer-provided benefits.
Building long-term financial security is a challenge for today’s workforce and having their employer as
a willing partner can engender engagement and makes it more likely that the employee will stay for the
long-term.
Fig 3.3
Larger companies accept a greater role in helping employees achieve financial security
Employers report that
workforce financial ALL Under 50 Under 500 500 or more 5,000 10,000
security is increasingly COMPANIES employees employees employees or more or more
dependent on employees employees
% % % % % %
Individual savings
% % %
Employer-provided
benefits
% %
%
% % % % %
Individual savings %
AND employer-
provided benefits
Not sure
% % % % % %
Don’t agree with
any of the above % % % % % %
37
40. 10th Annual MetLife Study of Employee Benefits Trends
“I need to do more as Financial Security –
an individual… we have Employees Accept Responsibility But Expect Help
the traditional ways The Study shows that 63% of employees are very certain that a
that we used to look reduction in Social Security and/or Medicare benefits would change
at our financial well- the retirement stakes and would require them to become more
responsible than ever for creating a financially secure retirement.
being package… as
However, they also expect their employers to help in this endeavor.
an individual, I need If government programs are reduced, more than half (55%) of
to take better stock respondents believe their employer should at least maintain their
in what I’m doing…” current retirement benefits. However, over a third (36%) would go
further and say their employer should actually expand the retirement
— Gen Y
savings benefits available through the workplace.
Employers Gain from a Financially Secure Workforce
“…the disability The Study indicates that help for employees is unlikely to take the
[coverage]… sends form of increased benefits expenditure. Only 16% of employer
respondents report that a reduction in Social Security and/or Medicare
a signal that the
would lead them to increase either retirement contribution levels
employer cares about or retirement benefits offerings. For about seven in ten employers
the welfare of their the response would be to maintain current contribution levels or
employees and wants benefits offerings.
to develop a loyalty However, employers do have opportunities to support employees’
between the company steps towards financial security without costly investment and with
and the employee.” an upside of increased employee loyalty and productivity. As discussed
in earlier sections, more than half of employees report that retirement
— Gen X benefits and income protection insurances are significant drivers of
loyalty.
Financial insecurity is also a recognized productivity cost for
companies. Financial concerns are a factor behind employee
absences and distraction during work hours. In short, a financially
secure workforce is more likely to be productive and more likely
to demonstrate loyalty.
38
41. Expanding Opportunity for Income Protection and Financial Security
Facing Forward —
Benefits Five Years from Now
One of the most striking findings of this year’s Study is how much more Progressives (compared with
Standards) are focused on non-medical, core benefits that foster financial security, such as life, dental and
disability insurance as an important benefits strategy for the future. This is an important finding given
the value of these programs in driving employee loyalty.
Fig 3.4
Employers agree that in the next five years non-medical benefits (such as life, dental
and disability) will become more important benefits strategies than they are today
Employers who agree
%
Progressives
Standards
%
39
42. 10th Annual MetLife Study of Employee Benefits Trends
Employees Have Miles to Go for Financial Security “I was in great shape,
The Study found that, by their own admission, about one in four and then all that [the
employees are significantly behind in three key areas of financial recession] hit, and I
planning – current financial security, long-term financial security took a nose dive on a
and protection against the financial implications of income loss
lot of things – personally,
as a result of disability or death.
professionally – a lot of
things hit.”
— Younger Boomer
Fig 3.5
Employees’ self-assessment in achieving financial security shows them to be behind
in most categories
Employees report their status in the following categories
Long-term financial
Current financial security security (e.g., saving Protection against loss
(e.g., managing day-to-day for children’s college of income due to disability
expenses) education or retirement) or death
Achieved/on-track % % %
Somewhat behind % % %
Significantly behind % % %
Haven't started N/A % %
40
43. Expanding Opportunity for Income Protection and Financial Security
Financial Worries Contribute to Employee Stress on the Job
The recession’s impact on personal financial security has led nearly two out of three Americans to feel that
their ability to achieve the American dream is no longer within their control.v Nearly two-thirds of employees
report experiencing financial and/or job related stress – and these concerns translate into greater distractions
at work.
Fig 3.6
Everyday financial concerns weigh on many employees
Employees indicate they are very concerned about
Having enough money to pay bills during
a period of sudden income loss %
Having enough money to make ends meet %
Having appropriate health insurance for
themselves and their family %
Having job security %
Paying off a mortgage %
Having the resources and time to care for
aging parents or relatives %
41
44. 10th Annual MetLife Study of Employee Benefits Trends
Progressive Employers Are More Tuned into the Costs of Financial Insecurity
Employers are aware that a distracted, stressed workforce – one that is preoccupied by money worries – is less
likely to perform at desired levels. Progressive employers appear to be more aware than others of the effects
this has on company productivity and health costs. There is no reason to think that these employers have a
greater incidence of financially insecure employees; rather Progressive employers may be more tuned into
some of the more important dynamics of today’s workforce.
Fig 3.7
Progressive employers see the problems caused by employee financial insecurity
more clearly than Standard employers
Employers who strongly agree
Progressives
Employees are less productive %
while at work at our company
Standards
when they are worried about %
personal financial problems
Progressives
Financial stress contributes to
%
employee health problems and Standards
company’s health costs %
Progressives
Employee financial stress
%
contributes to employee absences Standards
at our company
%
42
45. Expanding Opportunity for Income Protection and Financial Security
Wellness and Financial Security
The Study shows that the availability of wellness programs, designed to improve employee physical health,
have grown significantly from being offered by 27% of employers in 2005 to 44% of employers in 2011.
Fig 3.8
Wellness programs have expanded year-over-year – especially in larger companies
% %
% %
%
%
%
%
%
10,000 or more %
%
employees
%
% %
%
500 or more % %
employees
%
%
% % % %
All companies
%
%
Under 500 % % %
employees
2005 2006 2007 2008 2009 2010 2011
43
46. 10th Annual MetLife Study of Employee Benefits Trends
Now companies are recognizing financial wellness as another opportunity to improve productivity and reduce
health costs.
Progressive employers are more likely to agree that including programs and services in wellness initiatives
designed to help employees manage their financial stress can help reduce absences and health costs.
Fig 3.9
Progressive employers are more likely to see the potential for financial
wellness programs
Employers who strongly agree that wellness initiatives to
reduce employee health costs and/or absences would be
more effective if they included programs and services to
help employees manage their financial stress
%
Progressives
Standards
%
44
47. Expanding Opportunity for Income Protection and Financial Security
Financial Anxiety and Income Protection
The Study shows that not only are employees concerned about everyday financial issues, they are also deeply
concerned about unforeseen life events such as premature death or being unable to work due to injury or
illness. They worry about how they will cope with the effects of this on their household income.
Fig 3.10
Unforeseen financial events are a concern for many employees
Employees who are very concerned about financial security for their families
If a wage earner is no longer able to work because of disability or illness 58%
Ability to cover all the extra costs not covered by medical insurance that
result from major illness 53%
In the event of employee’s premature death 48%
45
48. 10th Annual MetLife Study of Employee Benefits Trends
Adequate Income Protection Is Key
Income protection benefits, such as life insurance and disability income protection coverages, can have a
positive effect in reducing stress and eliminating distractions at work. But having the right level of coverage
is critical. Unfortunately, a troubling percentage of employees who own these protection coverages either
suspect they do not have enough coverage, or simply do not know if they do.
Fig 3.11
Employees who believe they have adequate protection insurance coverage are less
likely to be concerned about unforeseen events that impact family financial security
Believe coverage level is adequate
Yes No/Not Sure
Owns disability income protection and is very concerned about
a principal wage earner no longer being able to work because
of a disability
54% 62%
Owns life insurance and is very concerned about premature death
34% 58%
46
49. Expanding Opportunity for Income Protection and Financial Security
Opportunity to Take Protection Insurance to the Next Level
The Study points to the importance of educating employees about adequate coverage levels. Access to simple
tools for calculating the right amount of life and disability coverage is an easy and inexpensive solution. Yet
at this time, the Study shows that fewer than half of employers offer their employees access to these aids for
either life or disability coverage.
Fig 3.12
Employees see value in online tools and calculators for assessing coverage needs
Employees who used calculator tools and found them very effective
60 %
For life insurance needs
53 %
For disability income
protection coverage
47
50. 10th Annual MetLife Study of Employee Benefits Trends
The Preferred Place to Obtain Benefits
Employees deeply value the ability to obtain insurance through their workplace. Almost half strongly agree
that purchasing insurance products through the workplace is easier than elsewhere.
Fig 3.13
Employees are mostly likely to obtain their protection insurance through the
workplace
Employees report
obtaining insurance
Of employees who own at work
Disability income protection coverage 87%
Life insurance 64%
“I was going to be able Retirement Goal Retreats for Many Employees
to retire at 62, now A significant finding in this year’s Study is that more than one in three
it looks about like (35%) Boomers say that as a result of current economic conditions they
I’m going to have to plan to postpone retirement.
live [work] until I’m For many employees, concerns about outliving their retirement money
90… Seriously, 62 was (50%), and needing to continue to work through retirement years
(46%) – combined with doubts about the long-term viability of Social
originally my goal…
Security and Medicare (75%) – leads to significant worries about having
and 65 was – you enough steady income in retirement to meet expenses (52%). The
know, if I had to, but… Study finds that one in four Older Boomers is now significantly behind
now, yeah, 70, 72…” in saving for retirement.
— Younger Boomer
48
51. Expanding Opportunity for Income Protection and Financial Security
Fig 3.14
Retirement readiness is not a new problem – the Study has tracked this over many
years – and has shown little progress during this time
Employees report progress of retirement savings
% % % %
%
% %
%
Behind schedule
Achieved/on % %
track to achieve % %
goals % % %
%
Haven’t yet %
started to save %
for retirement % %
%
% % %
Don’t have % %
savings goals %
% % %
%
%
2004 2005 2006 2007 2008 2009 2010 2011
49
52. 10th Annual MetLife Study of Employee Benefits Trends
“I never thought I’d Opportunity for Employers to Take Action to
be thinking about Boost Financial Preparedness
retirement, ever… so Employers may not be in a position to make greater monetary
financial security is very contributions to employee savings – however, there is an open
unsettling… And my opportunity to help build those savings by helping employees
of all ages become more knowledgeable and confident about
window is not that big
managing and planning their finances.
so I’m thinking about
And employees admit that they need and welcome this support.
it most every day.”
Only a third (33%) of employees strongly agree that they are in
— Older Boomer control of their finances or very confident in their ability to make
the right financial decisions for themselves and their families (39%).
When asked about their interest in various financial education
opportunities in the workplace to address current, long-term
financial security, or protection against the financial impact of an
unforeseen event, 72% of employees expressed interest in one
or more of these programs.
Financial education programs in the workplace should clearly benefit
employees by providing them with greater confidence and sense of
control of their financial destinies.
Fig 3.15
Employees who act on the opportunity to attend financial education programs
benefit from the experience in terms of financial confidence and control
Employees who have financial education program available in the workplace
And who say they feel Attended Did NOT attend
Very in control of finances 58% 33%
Very confident about financial decision making 58% 43%
50
53. Expanding Opportunity for Income Protection and Financial Security
Employers Stand to Gain from Financial Wellness Programs
Given that 22% of employees admit that they have taken unexpected time off in the past 12 months to deal
with a financial issue and/or spent more time than they think they should at work on personal financial issues,
there is clearly a productivity gain associated with having a more financially secure workforce. The Study’s
findings suggest there is opportunity and value in offering a comprehensive financial education program
in the workplace, especially one that can deliver relevant information to today’s diverse workforce and help
them take action to address their specific needs. Yet currently these programs are more apt to be offered in
larger companies.
Fig 3.16
Financial education programs in the workplace mostly exist in larger companies
Company offers financial education programs
All Under 50 Under 500 500 or more 5,000 or more 10,000 or more
companies employees employees employees employees employees
40% 23% 29% 57% 58% 63%
Company offers retirement education programs
All Under 50 Under 500 500 or more 5,000 or more 10,000 or more
companies employees employees employees employees employees
46% 29% 35% 64% 68% 74%
51
54. 10th Annual MetLife Study of Employee Benefits Trends
Progressives Employers See the Value of Financial Education
The Study indicates that Progressive employers are nearly twice as likely as Standard employers to provide
financial education programs and tools to help ensure that employees obtain adequate coverage. They may do
so in light of their previously noted awareness of the cost of financial insecurity in terms of lost productivity.
Fig 3.17
Progressive employers are more likely to offer insurance calculators and financial
education than Standards
Progressives
%
Company offers financial
Standards
education programs
%
Progressives
Company provides online tools %
for employees to calculate the
Standards
amount of needed life insurance %
coverage
Progressives
Company provides online tools to
%
calculate the amount of needed Standards
disability insurance coverage
%
52
55. Expanding Opportunity for Income Protection and Financial Security
Building Employee Engagement in Financial Education Programs
Despite their interest and need for financial education programs, over two-thirds (68%) of older employees
failed to participate in retirement education programs that were available to them. And a similarly high
percentage (62%) of younger workers did not take advantage of a financial education program.
The fact that employees are interested but not attending financial education programs, is not a reason
to dismiss the program altogether. Rather, this is a clear signal to work on effective communications and
meaningful content.
Employers can drive engagement by ensuring that the programs they offer meet the needs of their particular
employee population. One example of this is making sure that content is age and life-stage appropriate and
it is delivered in a preferred medium.
Fig 3.18
Ideas to improve appeal of financial education programs
Employees who are interested in employer-provided programs
Online tools (e.g., written materials, learning
modules, calculators, or scenario planning) %
An employer-sponsored financial advisor %
Financial planning/retirement
in-person seminars %
Financial planning/retirement webinars
via the Internet %
Expert advice and guidance via telephone %
53
56. 10th Annual MetLife Study of Employee Benefits Trends
Facing Forward —
Benefits Five Years from Now
Fig 3.19
Progressive employers see opportunity ahead for greater emphasis on financial
education programs and retirement offerings
Employers agree that in the next five years
Progressives
Retirement offerings will become
%
a more important benefits Standards
strategy than today
%
Progressives
More education programs about
%
individual finances and retirement Standards
planning will be offered %
54
57. Expanding Opportunity for Income Protection and Financial Security
Windows of Opportunity —
Strategic Steps Employers Can Take to Act on Study Insights
Educate to engage: Financial education Reduce employee absences caused by
is wanted and needed by employees of family stress.
all ages and incomes. Leverage employee assistance programs. Support
Conduct a company survey. Establish employee for elder care, long-term care and mental health
interests and consider diverse employee needs, e.g., issues can help reduce employee distraction and
executives, women, parents who are caregivers. absence.
Address a broad spectrum of financial issues
throughout an individual’s life – not just retirement. Tap tax season to promote the value
Provide access to credible financial professionals –
of tax-deferred benefits.
experts who can evaluate an individual’s needs and Educate employees on the value of automatic
make appropriate recommendations. regular savings and catch-up provisions for older
workers.
Use age-appropriate messaging to encourage
participation. Younger workers may be more
enticed by the time value of savings since they Build an executive benefits offering.
are years from retirement. Older Boomers may
appreciate budget and spending tools to help Help attract and retain top talent. Smart use of
them project on how long their savings will last. individual insurance products can deliver coverage
while leaving group plans untouched.
Enable adequate income protection
coverage.
Offer supplementary and buy-up options for
income protection products.
Source online tools and guides from providers.
Ideally, ones that can be used on mobile devices
or at home.
Use enrollment reports from benefits carriers to
identify coverage gaps. Understanding enrollment
patterns can help better target employee
communications.
55
58. Section 4
Realizing the Generational Opportunity
in the Post-Recession Workforce
This year, the Study uncovers a number of generational insights that go beyond
some of the traditional assumptions around life stage. In fact, what emerges is a
fascinating picture of how younger generations (Gen X and Gen Y) are now looking
to the benefits they get at work much more than previous generations traditionally
did at the same age.
This year’s Study reveals how economic conditions are driving fundamental
differences in younger workers’ attitudes toward employee benefits, financial
decision-making, career planning, job satisfaction and loyalty to employers.
Recruiting and retaining this employee segment is essential for future business
success, and by understanding generational attitudes and needs regarding benefits,
employers may have an opportunity to more effectively shape their benefits
strategies.
The Recession Defines a New Generational Outlook
The recession dealt a powerful and sudden blow to working Americans in 2008 and
has called into question whether the younger generations can expect to achieve the
American dream. Forty-six percent (46%) of Gen Y and 44% of Gen X employees
report that their standard of living would need to be higher than their parents in
56
59. order to feel like they have achieved the American dreamvi. Yet, despite a sense of
working harder than their parents, this looks increasingly unlikely given that the
unemployment rate for Gen Y is more than twice as high as for older workersvii.
The age of an individual at the time of the 2008 recession, and where an individual
was in his or her career, established a defining moment for when personal
opportunity became blunted and recognition of the need for greater financial
security was heightened.
Fig 4.1
Working Americans were at different stages in their lives and careers when the 2008
recession impacted them
Gen Y Gen X Younger Boomers Older Boomers
(b 1981–1994) (b 1965–1980) (b 1956–1964) (b 1946–1955)
14 27 28 43 44 52 53 62
years old
*—
years old
—
years old
—
years old
—
“I had the opportunity to buy a house… That was an American dream… Our kids
won’t have that going forward… The American dream is not there anymore for
the future generation.”
— Older Boomer
*only those age 21 or over participated in the survey 57