As employers increasingly cost-shift benefits, an inevitable consequence is employees wanting a larger say in how their benefit dollars are spent – making tailored and personalized benefit packages another step in the evolution of the consumer-driven paradigm.
In the March 2013 issue of Employee Benefit News, reporter Tristan Lejeune wrote about the findings of a December 2012 TNS Omnibus survey of 1,500 U.S. workers. According to the survey, 86 percent of respondents say it is important to be able to customize all of their benefits to fit their individual lifestyle.
Women and younger workers were particularly likely to favor customizable benefits. Only half of men, but 56 percent of women, agree that it is extremely or very important to be able to customize benefit choices to fit their lifestyle. American workers in their 40s are more likely to value the option than older workers, and millenials are more likely than any older group to say personalization is important.
With Purchasing Power’s employee purchase program in your product portfolio, you can assist employers in providing employees with a very customizable voluntary employee benefit. Through our employee purchase program, workers can choose household items and products that enhance their individual lifestyles. Through Purchasing Power’s Learning Solutions, they can also individualize online education needs – from SAT/ACT preparation to professional certifications to college courses.