The top preference of employees in the Lower to Middle Income Families segment for learning about voluntary benefits is by speaking to someone in person, according to the Employee Life Stage Segmentation - MarketVision™—The Employee Viewpoint© report. By contrast, the top preference for the Middle to Higher Income Families segment is on their own through the Internet/intranet. All segments concurred that, in the future, they would prefer to enroll for benefits online via the Internet or intranet as opposed to on paper or by phone.
Regardless of the life stage segment, reasonable cost and filling a personal need are the most important reasons for buying voluntary products. However, Higher Income Singles and Couples, Lower Income Single Parent Families, and Lower to Middle Income Families place more emphasis on the importance of employer endorsement and the influence of co-workers than do other segments.
The 2018 Employee Life Stage Segmentation - MarketVision™—The Employee Viewpoint© report looks at how employee ownership and attitudes toward voluntary benefits, purchase, enrollment and benefit communication preferences vary across six lifestyle segments:
Employee Life Stage Segmentation - MarketVision™—The Employee Viewpoint©, a Spotlight™ Report
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.