80% of employees would value benefits customized to individual circumstances and age.
Salt Lake City, Utah (PRWEB) March 17, 2016
Consumerization is happening in all industries of the American and global economy. Take Apple, for example. Prior to the era of Apple’s iPhone, Blackberry dominated the market. Blackberry devices were functional, widely adopted by enterprise users, and brought mobile internet to the masses. When Apple introduced the iPhone in 2007, Blackberry stock hit an all-time high on a market cap of $120 billion. But the market was in for a seismic shift. iPhones gave consumers something Blackberry did not—the ability to customize your device with thousands of apps and settings (and even color). Yes, the Blackberry was functional, but the iPhone reoriented the product to focus on the end-user. The result? A radical market shift to consumer-driven technology for mobile devices.
A new whitepaper, published by Zane Benefits, concludes that the employee benefits market is staged for a shift similar to what iPhone has done to the mobile device market—and small businesses stand to become the primary beneficiary of the shift.
According to a recent Metlife employee survey, over three quarters (78%) of employees want a greater variety of benefits to choose from and 80% of employees would value benefits customized to individual circumstances and age.
For America’s small business employers, the consumerization of employee benefits creates an obtainable advantage. Unlike traditional benefits that attempt to provide a universal solution for the group of employees, a consumer-directed approach enables the small business to offer true benefits, customized to the unique needs of each employee—all at a cost determined by the company.
The full whitepaper is available as a free, online download: Consumerization: An employee Benefits Advantage for Small Business