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W W W. M A I N E B I Z . B I Z 25 D E C E M B E R 2 , 2 0 2 4 F O C U S B A N K I N G / F I N A N C E / I N S U R A N C E H OW TO B Y L I Z R I C K E T T B Y L I Z R I C K E T T W hile paychecks and promo- tions are still top of mind for many employees, it is important for employers to not lose sight of the key role a well-rounded benefits package plays in meeting the evolving needs of today's workforce. Employees want diverse options that meet them where they are in life — gone are the days of the one-size-fits-all benefits package. Finding the right benefits provider is vital to making sure you can deliver an employee experience that works for your unique workforce. Price and products are an impor- tant component, as are the capabilities and experience the insurer provides you and your employees. But with so many options in today's market, how do you know you are making the right selection? I'd recommend posing three questions during your search process to help select the best solutions and service for your team. Q: How are they personalizing their offerings to meet the diverse needs of today's workforce? It might be surprising, but not all employee benefits offerings are created equal. A Gen Z worker in Portland who is just kick-starting their career likely prioritizes their benefits needs differently from a seasoned Gen X worker with a fam- ily in the County. No one person is the same and their needs often differ widely. It is important that the ben- efits provider you select can accom- modate the unique expectations of your workforce. From products ranging from life and disability to pet insurance or solutions that offer a simplified benefits experience, choice is key. Q: How are they innovating their business to provide your employees with the best customer experience? When selecting your benefits pro- vider, do a deep dive into how they are innovating to develop a better experi- ence for your employees. For example, at Unum we take a human-centered approach that puts our customers first. We pair innova- tive tech solutions with human touch to ensure customers enjoy a seamless experience that prioritizes ease of use. Your employees are going to be utilizing these benefits during times of need. Whether it is a new mother bonding with her baby or someone recovering from cancer, our job as a benefits provider is to recognize the life events your employees are going through and ensure a simple, empa- thetic experience from start to finish. Q: Are they a company that cares? Companies that operate under a purpose-driven structure are evident when you know what to look for. e first two questions we explored will help shed light on the insurer's attitude toward their customers, but you can also learn a lot about a com- pany by how they show up for their own employees and demonstrate a commitment to improving the lives of others. Do they promote a culture of inclusivity and diversity? Have they received awards that speak to their commitment to excellence? What are they doing to build stronger communities? All good questions that can give you great insight into how much the insurer cares. ese three questions are a great place to start when searching for the right benefits provider and can open the door to additional conver- sations that can help you choose the right company for your employees. Remember, your employee ben- efits are a vital part of the overall employee experience and having the right partner by your side makes all the difference. L i z R i c k e t t i s s e n i o r v i c e p r e s i d e n t o f c u s t o m e r o p e r a t i o n s a t U n u m 3 questions to ask when selecting your benefits provider © 2024 Morgan Stanley Smith Barney LLC. Member SIPC. Morgan Stanley is proud to congratulate Mark Leighton Named to Forbes' Best-In-State Wealth Advisors list—2020-2024 2020-2024 Forbes America's Top Wealth Advisors Source: Forbes.com (Awarded 2020-2024). Data compiled by SHOOK Research LLC. based on 12-month time period concluding in March of the year the award was issued. Please scan QR code for more information on award methodology and criteria. CRC 3759123 08/24 Mark Leighton Managing Director, Wealth Management / Financial Advisor 100 Middle Street, 3rd Floor | Portland, ME 04101 207-871-7329 • mark.leighton@morganstanley.com advisor.morganstanley.com/mark.leighton Being named to Forbes' Best-In-State Wealth Advisors list for five consecutive years is a testament to your experience, focus, and dedication to your clients' financial future. Thank you for the work you do each day and for carrying forward the standard of excellence at our firm. READY FOR A BRIGHTER FINANCIAL FUTURE? Khadija El Barkaouim, founder of Coelle Travel and graduate of CEI's BIPOC Women's Business Navigator VISIT CEIMAINE.ORG FOR: FREE WORKSHOPS & COHORTS ONE-ON-ONE BUSINESS ADVICE SMALL BUSINESS LOANS When selecting your benefits provider, do a deep dive into how they are innovating to develop a better experience for your employees.