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Sixth Annual Study of Employee Benefits: Today & Beyond

Understanding the Emerging Trends in Employee Benefits

For the sixth consecutive year, Prudential has surveyed a representative cross-section of benefits plan sponsors, benefits plan participants, and brokers/consultants across the United States and compiled the findings in our latest report, the Sixth Annual Study of Employee Benefits: Today & Beyond. This study is a valuable reference that benefits providers and brokers/consultants can rely on to see the real challenges and trends we believe will shape the delivery of employee benefits programs for the next five years. It also serves as a valuable tool that can help them develop real benefits solutions now, while keeping an eye on the future.


The Growing Importance of the Workplace
	Employees are beginning to look to the workplace more and more when it comes to their personal insurance and savings products. This trend brings an opportunity for employers to gain a competitive advantage with their benefits packages and attract and retain talent. Effective communication and education is vital when speaking to both employers and employees about the value of workplace benefits.
Gauging the Success of Voluntary Benefits
	Employers continue to offer voluntary benefits to increase employee satisfaction. Three quarters of employers are currently gauging the success of their voluntary programs and most of these groups have been successful in adding more benefits options. A large portion of these firms have also seen an increase in employee satisfaction. In the same respect, employees are showing increased interest in the voluntary benefits their employers are offering to them.
Grappling with a Changing Benefits Landscape
	The benefits decision-making process is shifting, with bigger companies experiencing larger changes. Senior management is increasingly involved and influential in making the benefits decisions and employers who say that their process has changed over the past 5 years indicate that it has become a more collaborative effort with more groups involved. There has also been a substantial increase in the outsourcing of benefits administration over the past 4 years.

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