Competing in the Dynamic Employment Environment
The employment experience is changing. Large employers are struggling to attract and retain employees. More and more, employees (especially Millennials) are looking beyond pay for compelling benefits from their prospective employers. Couple that with the impact the pandemic has had on mental health, absence, etc., and organizations find themselves pivoting to offer competitive benefits packages and tools that make it easy for employees to enroll in and navigate the benefits landscape.
Our client – a Fortune 500 insurance company – needed to develop a benefits bundle strategy to help large employers respond to these dynamics.
We worked with the client team to understand their vision of the changing employment landscape and what is on the horizon in terms of employee expectations and their impacts on hiring companies. We then gathered insights in group sessions and in-depth interviews from difficult to reach targets (benefits decision-makers, insurance brokers, HR IT professionals, C-suite finance types) as well as employees at large companies.
Spontaneous discussions among the research participants, along with their reactions to a benefits bundle and technology concepts developed by the client, resulted in the shaping of an updated value proposition. This provided a roadmap for how the client will talk to decision-makers at larger companies, and the solution bundle it will offer to optimally position the brand.