Last week's burning question focused on adviser willingness to push voluntary products while this week's question looks at adviser strategies in firm management. Advisers answered last week's question by saying it is possible for employers to get "maxed out" on too much voluntary.
But before we get to the findings from last week, please answer this week's burning question.
Many advisers complain that transferring client data to a client relationship management program can be a nightmare. Other advisers say CRM programs are necessary to keeping tabs on clients and improving workflow throughout the benefits firm. What are your thoughts? Is CRM a necessary evil?
Make sure to take just two minutes and fill out this week's survey. Participation lagged a bit last week. Let's keep the numbers up to ensure this data is accurate and helpful to you. If you have a burning question that you would like us to pose to readers, just let us know by e-mailing EBA Managing Editor Molly Bernhart.
Now, back to the issue of voluntary saturation -- when asked if employers can get "maxed out" on too much voluntary, 64% of respondents said yes, 27% said no and 9% said only if their payroll deduction slots are full.
Employers have limited benefit dollars for a contribution to voluntary products and employees are keeping a tight grip on their wallets as they consider a looming recession. We asked readers: Does pushing voluntary hard during this economic climate give you pause or is it irrelevant? Here is a sampling of what readers had to say …
- Pushing voluntary is good in any economic climate, if you have confidence in the products and services, and know they offer value to some of your associates.
- Offering too many options does give me pause because employees will over insure themselves if the options offered by the employee don't fill specific gaps in coverage.
- If you are presenting the voluntary benefits that are an appropriate need for your audience, then the economic climate is irrelevant. It is not a time for frivolous benefits, but a prefect time for products such as disability and critical illness.
- In this difficult economic climate and given how employees are struggling with increased costs in many sectors of their lives, I don't think pushing voluntary benefits hard makes sense.
Questions? Comments? E-mail EBA Managing Editor Molly Bernhart.
Don't forget to fill out this week's survey on client relationship management.
