Targeting benefits
Employee Benefit News, December, 2006 by Kelley M. Butler
Research from Tennessee-based disability insurance giant UnumProvident is giving employers new insight on how to tailor voluntary benefit offerings to best suit employees' differing needs during different life stages. Gender, age and family status all play a part in employees' voluntary elections, UnumProvident's findings indicate, and employers will want to match workplace demographics with products and communications that resonate with workers to make informed choices.
"We're no longer in a one-size-fits-all world," says Kevin McCarthy, executive vice president of risk operations. He stresses employers need to "determine specific plan designs for specific employee groups and better determine an overall workable, sustainable and suitable benefit plan that better meets the...
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