Benefits Like Life, Disability and Long-Term Care Insurance Can Significantly Impact Talent Acquisition and Retention
Employers are not meeting expectations
SCOTCH PLAINS, N.J. – March 27, 2024 – PRLog — Employee Benefits Day, observed this year on April 6th, is a time when the hard work done by employers to provide benefits to their workforce is celebrated. The current state of the job market and the U.S. economy have prompted a shift in employee priorities, however, and employers should reevaluate the benefits they are offering. According to a new exclusive survey among 2,000 full-time employed Americans conducted by global research company Wired Research and commissioned by Jazmarc Services, employers are falling short in providing their employees with the benefits they want.
The new survey results are part of the inaugural 2024 Employee Benefits Report, a deep dive into the current state of employee benefits in the United States. Key insights from the work reveal some powerful takeaways:
Employers are not delivering the benefits employees want: A majority of employees consider benefits to be important; far fewer report that their employer offers them:
o Short-term disability (84% important vs. 67% offered) o Long-term disability (82% important vs. 64% offered) o Long-term care (78% important vs. 56% offered) o Term life insurance (75% important vs. 62% offered) o Whole/permanent life insurance (75% important vs. 56% offered)
Employees are more likely to prioritize “old-school” benefits. Employees place greater importance on benefits like disability, long-term care, and life insurance than they do newer benefits like remote work (67%) and student loan repayment (46%).
Millions more employees across the country would use employer-provided benefits if given the chance: About 2 in 3 of those not offered insurance would use them if their employer made them available:
o Long-Term Disability (67%) o Short-Term Disability (66%) o Long-Term Care (64%) o Term Life (60%) o Whole/Permanent Life (58%)
Benefits directly impact retention: Nearly all employees report that the benefits offered by their employer would have an impact on:
o Staying at their current job (96%) o Accepting a job offer (95%) o Looking at other job opportunities (93%)
When they aren’t offered benefits, employees don’t feel like they are a priority: About 1 in 2 employees report that if the benefits they consider important are not provided, they would think their employer:
o Doesn’t value its employees (55%) o Wants to do the bare minimum while getting the most from employees (50%) o Prioritizes the bottom line over employee satisfaction (45%)
According to Danielle Sherman, founder and CEO of Wired Research, this research comes at a time when employers across the country are getting rid of vital benefits to cut costs. She says “The research has revealed that employees are hungry for benefits that may sometimes get deprioritized. When an employer doesn’t offer benefits like disability, long-term care or life insurance, they are putting employee satisfaction at risk, which directly impacts retention.”
And Joshua Marcus, founder of Jazmarc Services, agrees. He says, “The research highlights the shifting priorities of employees and their benefits expectations. Employee Benefits Day is the perfect time for employers to think about how they can better meet their employees’ needs today and in the long-term.”
For more information about the research and to get a copy of the 2024 Employee Benefits Report, visit Jazmarc Services at http://www.jazmarcllc.com where you can create an account and download. Alternatively, reach out to Wired Research at info@wiredresearch.com.
KUALA LUMPUR, Feb 23, 2024 – (ACN Newswire) –The Institute of Corporate Directors Malaysia (“ICDM”) recently concluded a comprehensive survey across Southeast Asia in collaboration with its eight (8) partners under the ASEAN IOD Network that highlights the imperative for boards to sharpen their foresight to assess and steer their organisation’s business model, governance, talent, dynamics, and culture as they position their boards for the future.
The survey of 335 respondents comprising boards and C-Suites management from across the region reiterates the urgency for boards to evaluate their effectiveness and shift their current strategic board priorities to ensure they address the key threats that they expect to be more prominent over the next two (2) years. The four (4) key threats include:
(i) Having the right talent and leadership; (ii) Diplomacy in managing macro and geopolitical uncertainties; (iii) Sustainable and effective operational strategy; (iv) Board-management relationship and dynamics.
Michele Kythe Lim, President and Chief Executive Officer (“CEO”) of ICDM emphasised, “Amidst the ongoing economic challenges, we remain steadfast in our commitment to navigating leadership in the dynamic landscape of Southeast Asia. Governance is coming into focus on a more profound level in the wake of heightened stakeholders’ expectations, as evidenced by the many changes taking place on boards around us recently. As leaders, we recognise the pivotal role of talent, the power of effective leadership and the imperative of sustainability in our current environment and that a paradigm shift at the board level is necessary to confront the reality and barriers in their pursuit for growth. This regional survey is part of our hope to collectively transform leadership and drive businesses to greater heights by encouraging them to launch into action and openly address the critical areas in board and corporate governance that will nurture deeper cohesion in organisations.”
Urging boards to cultivate a forward-looking mindset and ingrain a more robust culture to turn risks into growth opportunity, ICDM’s 2024 ASEAN Board Trends Survey identified five (5) critical areas in board governance that require immediate intervention to reinforce board effectiveness and ensure companies are equipped for the challenges of the future. These include:
(i) To Realign Board Agenda and Set Priorities Right: Boards often cling to outdated approaches, looking at things through yesterday’s lens and failing to adapt to changing circumstances. As a result, corporate priorities overlook the key threats and changing environments. Boards must stay informed about current and future business trends while adapting to new threats, risks and opportunities that build their path to the future.
(ii) To Improve Board-Management Relationship and Dynamics: Misaligned priorities between boards and their management were noted throughout the survey, with differing ideas on key organisational priorities and areas that require more attention from the board. While boards place greater importance on business model agility, diversification and transformation, management believe human capital strategy and development should be a priority. Boards and management must conduct more meaningful discussions, realign and agree on priorities as well as expectations of both parties to enhance the working relationship dynamics for increased effectiveness.
(iii) Progressive and Forward-looking Board Architecture and Culture: Management express reservations about the board’s current ability and skillset to steer the company strategically. The existing blend of knowledge, experience, and qualities fall short of supporting evolving business needs in the coming years. Boards must begin cultivating a culture of open dialogue, courage, and candour amongst each other. Nomination and Remuneration Committees (NRC) play a vital role in ensuring the right mix of board members, led by the chairman who plays a pivotal role in fostering a progressive board culture and managing board-management dynamics.
(iv) Board Effectiveness at Taking Stock: While boards may perceive their performance positively, management highlight a lack of diverse perspectives which hinders insightful discussions and creates blind spots to critical issues. Some respondents felt that their board deliberations do not bring value or enhance decision-making quality, with over half stating that board members rarely express conflicting views. Boards must look internally to assess their value proposition, skills, governance and mindset to effectively catalyse their growth.
(v) Navigating Board Sustainability Challenges: While many acknowledge that sustainability goes beyond mere reporting and some boards are already embracing or planning to adopt sustainable strategies, management remain sceptical about the board’s current knowledge and ability to fulfill its oversight role. While boards recognise that their challenge lies in setting up the right governance with clear performance target measurement, they must also acknowledge the important need to support the human capital function and concerns through talent governance. Health, safety and wellbeing, talent management and succession planning are among top sustainability matters for boards’ attention.
As boards begin to address these critical areas in governance, the key actions they need to take begin with undertaking a formal board effectiveness evaluation encompassing candid, 360-degree assessment. Boards must obtain holistic perspectives to better understand their current landscape, working dynamics amongst themselves and between their management, as well as identify development needs. It is vital that boards reevaluate their composition and remuneration packages at regular intervals and proactively foster strong board-management relationships and dynamics. In realigning organisational priorities through joint strategic planning sessions, boards must practice the art of asking challenging questions for more robust discussions. Organisations must prioritise talent governance and organisational culture to ensure a conducive environment for innovation and productivity, while embracing sustainability agendas authentically, avoiding greenwashing, and embodying authenticity and purpose as leaders are essential for driving organisational success.
In addition to the 2024 ASEAN Board Trends report, ICDM also announced the formation of an ASEAN Directors Registry under the ASEAN IOD Network initiative. Aiming to go fully operational in July, the registry marks a significant stride in fostering global recognition for ASEAN board talent. Recognising the needs of boards with regional perspectives, this initiative aims to actively advocate for enhanced ASEAN representation on the boards of businesses with a presence in the region. With this registry, it seeks to elevate the value proposition for members of ASEAN Institutes of Directors by expanding their access to a broader spectrum of directorship opportunities and give organisations a wider selection of board-ready candidates with international or regional experience.
The survey was conducted in collaboration with partners under the ASEAN IOD Network, which was initiated in 2020 to better serve the board community in the region and beyond. These partners include the Institute of Directors Thailand (IoD Thai), Institute of Corporate Directors, Philippines (ICDPh), Vietnam Institute of Directors (VIOD), Myanmar Institute of Directors (MIoD), Singapore Institute of Directors (SID), Indonesian Institute of Corporate Directors (IICD), Darussalam Assets Sdn Bhd and the International Business Chamber of Cambodia (IBC). The survey can be accessed on ICDM’s website.
About the Institute of Corporate Directors Malaysia (ICDM):
The Institute of Corporate Directors Malaysia (ICDM) is a membership-based organisation whose mandate is to professionalise directorship in Malaysia. As the National Institute of Directors (IoD), ICDM is committed to providing continuous professional development – empowering boards and directors with forward-thinking mindsets, practical knowledge and essential competencies. Established by the Securities Commission Malaysia (SC) and supported by Bank Negara Malaysia, Bursa Malaysia and the Capital Market Development Fund (CMDF), ICDM’s goal is to be the leading influence of excellence in governance and to build a robust corporate governance culture in Malaysia. For more information on ICDM, please visit our website at www.icdm.com.my
A new survey of insights experts and business stakeholders highlights the rapid adoption of AI technologies in reshaping how knowledge flows through enterprises. The report, “How AI will transform use of research, data and insights”, published today by Market Logic Software, the global leader for insights management solutions, reveals that more than three-quarters of insights teams and two-thirds of stakeholders have already begun using AI for insights-related tasks.
Innovation Report: How AI will transform use of research, data & insights
The report forecasts a sharp rise in self-service interactions with insights data amongst marketers, product managers, and other business stakeholders as AI accelerates the trend towards democratization of research and data. In parallel, the survey reveals that insight teams are set to bank the productivity benefits of AI: cutting the time needed to complete a wide range of research and knowledge management tasks. Almost 40% of insights leaders believe these enhanced AI capabilities will prompt them to shrink the size of their teams.
“More than 80% of all respondents expect that AI will help them to ‘spot new trends faster’ and ‘manage existing knowledge resources better.’ These forward-thinking pioneers will be at the forefront of seizing competitive advantage through AI and implementing a new generation of insights-driven operations,” commented Olaf Lenzmann, Market Logic Software’s Chief Innovation and Technology Officer.
While the report illustrates a good deal of alignment between business stakeholder groups and insights teams on the potential for AI to scale insights-driven decision-making, it also uncovers some marked differences in attitudes to risks. Where business leaders focus more on data security and compliance requirements, insights teams place emphasis on the need to create guardrails for research data output quality and accuracy.
“Discussion of AI tends to focus on efficiency benefits, but this data sheds new light on what may be an even more important impact,” says Mike Stevens, the report’s lead researcher and author. “Nearly 75% of stakeholders believe AI will increase their organization’s demand for research and insights. To meet this demand, insights teams will need to evolve their mix of skills, empower their stakeholders, and adopt a range of new technologies.”
Based on a series of in-depth interviews and a comprehensive survey of enterprise organizations, the report was researched and produced by industry analyst, Insight Platforms. More than 200 professionals in the USA, UK, and Canada completed the survey. Half of these worked in market research and insights functions; the remaining half were in stakeholder teams such as strategy, marketing, or product management. This sample provides the first cross-functional gauge of professional perspectives on embracing AI for research and insights. This report is now publicly available for download from Market Logic Software.
About Market Logic Software:
Market Logic is a market-leading SaaS provider of insights management solutions.
Our AI-enabled insights management platform allows insights teams to equip business decision-makers with trusted insights at scale and speed. Since 2006, we’ve helped hundreds of consumer-focused brands across the globe to transform into insights-driven businesses. Market leaders such as Unilever, Vodafone, Astra Zeneca and Tesco are driving innovation and making smarter market moves with the support of Market Logic. Find out more at https://marketlogicsoftware.com/
About Insight Platforms:
Insight Platforms is the leading publisher of expert content for insights technology and digital research methods. With virtual events, training courses and a comprehensive directory of tools, the site attracts a global audience of over 250,000 insights and data professionals annually.
Contact Information Daniela Zuin CMO daniela.zuin@marketlogicsoftware.com
SCOTCH PLAINS, N.J. – Oct. 25, 2023 – PRLog — Life Insurance Awareness Month is drawing to a close and by now, most people will likely have seen at least one post or advertisement touting the importance of securing coverage. Despite all that the industry has done to raise awareness of life insurance, new research underscores a disconnect in understanding what this coverage is really meant to do: financially protect our most valuable asset when we are gone – our family.
According to a new exclusive national survey commissioned by Jazmarc Services and conducted by Wired Research among 1,008 nationally representative Americans, there’s no denying that Americans care deeply about their family and their family’s financial future. So much so that half (47%) of Americans report that every single decision they make is with their loved ones in mind. And 1 in 3 (32%) think about their family’s future at least once a day.
In fact, 2 in 5, or nearly 102 million Americans, report that:
Most financial decisions they make for their family today are with the future in mind (41%)
They think it’s important to worry about their financial future right now (40%)
Even more want to ensure that their family’s security continues, especially when they are gone. The survey found that when they are no longer here, 1 in 2 Americans:
Want to make sure their family is well taken care of (51%)
Never want their loved ones to worry about the family finances (45%)
Despite their care and concern for their family’s financial well-being, the survey reveals that 3 in 4 (72%) or more than 183 million Americans don’t think they’ve made smart financial decisions in their life. Their lack of life insurance coverage affirms this. A recent industry survey from LIMRA reveals that about half (48%) of Americans don’t have any type of life insurance – at all.
“The disconnect is truly glaring, but not surprising,” says Joshua Marcus, founder and managing member of Jazmarc Services, a boutique insurance brokerage. He continues, “For many of us, it is difficult to shift our focus from what needs to happen today to what could be put off until tomorrow, and securing life insurance is one of those things that gets put on the ever-growing “to-do list”. “
And while more than 1 in 5 Americans report that buying a life insurance policy or adding to what they currently have is something they’ll get to eventually, tomorrow is never a guarantee. In fact, 2 in 3 (66%) Americans acknowledge that the future is not promised to anyone.
That’s why Joshua advises all Americans – with and without coverage – to look closely at their options sooner than later. He counsels, “One of the best and easiest ways to protect your family’s financial future is with life insurance.”
For more information about the survey and to see more results, reach out to Wired Research at info@wiredresearch.com
Leading influencer marketing company captures the current state of payments and pricing for the Creator Economy and several X-factors that determine impact value and fair compensation
SAN FRANCISCO – WEBWIRE – Wednesday, May 31, 2023
Aspire.io, the leading influencer marketing platform for 900+ customers ranging from high-growth eCommerce companies to multinational brands, today released its How Much to Pay Influencers Report, a cross-channel survey on the value of creators in the influencer marketing industry. The report comes as businesses plan to invest an estimated $6.16 billion in creator campaigns this year.
Aspire.ios report surveyed over 1,000 creators nationwide to bring new insights into influencer pricing. The survey coincides with the launch of the platforms Recommended Influencer Payment solution. This tool, available to all Aspire.io customers, helps brands quickly calculate average pricing metrics for each creator in their campaign. Brands interested in arranging a demo may visit here.
As the influencer marketing industry grows, its important that companies understand creators evolving value and pay them fairly for their contributions to marketing campaigns, said Anand Kishore, Founder, and CEO at Aspire.io. Whats clear from our report is that the landscape is constantly changing and we recognize that navigating these changes can be difficult for marketing teams. Our Recommended Influencer Payment is helping close that gap.
YouTube Reigns as Most Lucrative Channel for Influencers and Most Affordable for Brands
The report shows that despite the rise of short-form content on platforms like Instagram and TikTok, YouTube – which is known for longer-form video content – has maintained a prominent role in the influencer-marketing ecosystem. Aspire.ios survey revealed that YouTube is the most lucrative channel for creators. In fact, 50% of YouTube creators report earning more than $500 per month from their brand partnerships, compared to 40% of Instagram creators and 36% of TikTok creators.
While simultaneously awarding influencers with the highest profits, YouTube also recorded the lowest cost per engagement per channel at $0.04, followed by TikTok at $0.21, Instagram at $0.56, Facebook at $2.63, Pinterest at $5.51, and finally Twitter at $37.82. This has made it a preferred channel for brands and marketing teams.
Creators Want to Work for Brands Whose Values Align with Their Own
As the creator economy grows stronger, so do creator wages. 48% of creators report having increased their influencer marketing income in the last 12 months, while only 15% reported a decrease. More than half (53%) of the creators surveyed said they earn more than $500 each month from their brand partnerships. This increase reflects creators growing influence and value in a marketplace, where the study also showed 61% of consumers trust influencer recommendations, compared to 38% who trust
brand-produced content.
Despite these rising rates, 83% of creators say that they would still work with a brand for just free products as long as they genuinely love the brand or the product value is high. In other words, in addition to fair compensation, influencers are most likely to partner with brands that share their values and the values important to their audience.
To view Aspire.ios full report, please visit here.
About Aspire.io:
Aspire.io is the leading influencer marketing platform driving positive influence at scale. Since 2014, Aspire has helped brands build and manage relationships with millions of influencers and deliver outsized value. Brands and creators use Aspire to find and vet each other, activate influencer marketing campaigns of any size, and put the magic of branded content to work at scale. As a recognized leader by Forrester Research, Aspire has paid out over $100M to creators and is trusted by over 900 top brands like Ray-Ban, Maude, Garnier, M&Ms, and 1-800 contacts. For more information about Aspires leading platform or to get in touch with our expert-in-house agency services team, please visit www.aspire.io
