New Eastbridge reports examine employees’ unique benefits needs

AVON, CONNECTICUT, USA (June 18, 2024)

Reports show differences by employer size, industry, generation, occupation, income and family composition

Employees in different industries, jobs and life stages often have very different needs for benefits coverage, according to a pair of new reports from Eastbridge Consulting Group.

The MarketVision™ — The Employee Viewpoint study tracks the preferences and expectations of employees about their benefits, with a detailed analysis of how behaviors and attitudes vary by demographic segments based on surveys with 2,350 employees nationwide. The data is presented in two Employee Demographic Details: Exploring Attitudes and Behaviors About Voluntary/Worksite Benefits reports: one focused on employer size and industry, and one examining generation, occupation, income, and the presence of children in the household.

For each category, the report examines ownership of products through employers, the number of voluntary products employees own, their preferred payment methods, the types of voluntary products they own and reasons for buying them, their future interest in buying voluntary products, the noninsurance benefits their employers offer, the benefits communication and enrollment methods their employers use, employees’ satisfaction with the voluntary enrollment experience, the importance of online administrative services and capabilities, and the impact of inflation on existing coverage and future voluntary benefits purchases.

“The U.S. workforce is more diverse than ever, so employers who want to provide an effective benefits program need to offer a wide variety of benefits, communication and enrollment options tailored to the needs of their employees,” said Nick Rockwell, Eastbridge president. “Carriers who want to be competitive in the voluntary market also need to understand these differences so they can create the right benefits packages for their employer and broker customers.”