Voluntary benefits: 3 key insights on purchasing behavior

July 7, 2017 | By Dan Johnson | Benefits Pro

Some might believe being a good salesperson is all about talking, but this couldn’t be further from the truth. It’s actually all about listening to the customer. I’ve found that a great challenge of working in voluntary benefits is that one-size-fits all solutions don’t exist. Each customer comes with their own set of needs, wants and challenges, and you need to adjust your approach based on the client. And this requires listening.
As part of our ongoing efforts to listen to customers, we partnered with an independent research firm and surveyed more than 200 employers to understand what drives purchasing behavior for voluntary benefits. I believe what we heard was insightful and would strongly consider it as you evaluate whether to sell voluntary benefits. Heres a look:

1. 83 percent of employees with healthcare coverage and no voluntary benefits say they’re open to enrolling in voluntary benefits through their employer – and they don’t expect their employer to pay for them.

2. 87 percent of employees in companies offering voluntary benefits feel they matter to their employers because of those benefits.

3. Finally, 62 percent of employees under 50 years old wouldn’t consider taking a job that doesn’t offer voluntary benefits.

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