how to attract and retain high quality employees

EMPLOYEE BENEFITS

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Employee Benefits__

Commercial & Individual Insurance__

Retirement & Investment Services__

Business Consulting

www.tpgrp.com800-722-6339

Portland | Lake Oswego Bellevue | Bend | Bozeman

EMPLOYEE BENEFITS

Attracting and Retaining Quality Employees in

2016Presented by:

Gary AltonManaging Partner, Employee Benefits

Nicole Pond, CBFAManaging Consultant, Retirement Plans

Securities offered through Geneos Wealth Management, Inc.Member FINRA/SIPC.Advisory Services offered through TPG Financial Advisors, LLC, a Registered Investment Advisory Firm

EMPLOYEE BENEFITSEMPLOYEE BENEFITS

You must:

■ Be logged into the seminar as yourself■ Attend the entire length of webinar■ The Partners Group will send out an email to all the

qualifying participants

Requirements To ReceiveHRCI Credit

Presenter

Presentation Notes

GA to bring up notes regarding questions.


■ Introductions

■ The Partners Group Overview

■ Attracting and Retaining Quality Employees

■ Traditional and Non-Traditional Benefit Offerings

■ Current Trends in Retirement Plans

■ Benefit Communication Strategies

■ Wrap-Up

Agenda


Today’s Speakers

Gary Alton*Managing Partner, Employee Benefits

Nicole PondManaging Consultant, Retirement Plans

*Gary is not affiliated with Geneos Wealth Management.

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Presentation Notes

GA/NP to discuss bios


EmployeeBenefits

Wealth Management

Commercial & Individual Insurance

Business Consulting

w w w. t p g r p . c o m

Complementary Financial & InsuranceBusiness Units

The Partners Group

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GA to talk about TPG, who we are, where we came from, independent, C2 and kick-off Retirement Services under TPG


Attracting and Retaining Quality Employees



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-Consumerism -Transparency tools -Telemedicine

EMPLOYEE BENEFITS




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■ Stepped up competition for talent

■ Build a strong employer brand

■ Greater pressure for HR to provide data


SHRM HR Magazine, March 2016 “Big Issues Facing HR”

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-Great place to work -Corporate social responsibility initiatives - Increasingly necessary for HR to build a strong employer brand -Compensation and benefits strategies -Washington Unemployement rate 5.8%; Oregon 4.5% HR professionals must use data and metrics as part of analysis -Aging workforce -Variety of generations working together -Cultural diversity


■ Employers’ benefit objectives, ranked by level of importance

MetLife’s 14th annual U.S. Employee Benefit Trends Study


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GA Notes – How many employers/sizes?



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Lost Knowledge: Aging Technical Workforce -Engineering -Petrochemical -Healthcare -Defense -Infrastructure -Finance -Truck Drivers -Farmers



■ One foot out the door…

2016 DeLoitte Millennial Survey

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-During the next year, if given the choice, one in four Millennials would quit his or her current employer to join a new organization or to do something different. This remarkable absence of loyalty represents a serious challenge to any business employing a large number of Millennials, especially those in markets—like the United States—where Millennials now represent the largest segment of the workforce. This “loyalty challenge” is driven by a variety of factors. Millennials feel underutilized and believe they’re not being developed as leaders. Millennials often put their personal values ahead of organizational goals, and several have shunned assignments (and potential employers) that conflict with their beliefs.



■ The values that support long-term business success are people treatment, ethics, and customer focus

2016 DeLoitte Millennial Survey

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Hold for more data from Deloitte survey, Millennial’s are attracted to… While many Millennials have already attained senior positions, much remains to be done. More than six in ten Millennials (63 percent) say their “leadership skills are not being fully developed.” Meanwhile, last year we observed that “regardless of gender or geography, only 28 percent of Millennials feel that their current organizations are making ‘full use’ of the skills they currently have to offer.” Millennials believe businesses are not doing enough to bridge the gap to ensure a new generation of business leaders is created.


■ Employees who believe workplace benefits ease their health and financial worries



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62% of employees agree that they’re looking to their employers for more help in achieving financial security through employee benefits. Half of employees strongly agree that because of the benefits they receive at work, they worry less about unexpected health and financial issues, and 70% say that benefits that can be customized to meet their needs would increase their loyalty to their employers.


■ Employees who feel in control of their finances

■ Generational view of employees’ financial concerns and attitudes



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The Center for Disease Control and Prevention reports that productivity losses linked to absenteeism cost employers $225.8 billion annually in the United States, or $1,685 per employee. ***CDC International Monetary Fund, 2015


■ Millennial perceptions of resources effectiveness compared to total respondents



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Traditional and Non-Traditional Benefit Offerings


■ Benefits % Employers Offering

HSA 47%Tuition reimbursement 73%Employee Assistance Programs 93%Long Term Care 25%Children facilities or assistance 7%On-site fitness or fitness benefits ($33/mo) 45%Paid volunteer time off (19 hours) 17%

■ Executive Benefit C-Suite Sr. Management

Non-Qualified retirement 13% 10%Financial counseling 37% 36%Supplemental Life 65% 61%Supplemental Disability 21% 20%

Northwest Benefit Survey

Milliman Study


■ Multiple medical and dental plan offerings

■ Base / buy-up programs

■ Value Based Plans and High Performing Network (ACO’s)

■ Voluntary programs

■ Transparency tools

■ Clinically-driven wellness programs

Traditional Benefit Trends

http://www.bing.com/images/search?q=images+of+benefit+trends&view=detailv2&qpvt=images+of+benefit+trends&id=EEA26ECF2647DFCB166133AFDB12469CB4D41336&selectedIndex=4&ccid=ObrIBQbP&simid=608013816406541474&thid=OIP.M39bac80506cff43c0ec7855d9c86ec27o0

http://www.bing.com/images/search?q=images+of+benefit+trends&view=detailv2&qpvt=images+of+benefit+trends&id=EEA26ECF2647DFCB166133AFDB12469CB4D41336&selectedIndex=4&ccid=ObrIBQbP&simid=608013816406541474&thid=OIP.M39bac80506cff43c0ec7855d9c86ec27o0


■ Student loan debt programs

■ Unlimited sick days

■ Pet Insurance

■ Concierge services

Non-Traditional Benefit Offerings

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-Pet bereavement days: 87% of pet owners experience at least one symptom of grief, 35% still experience gried after 6 months, 22% still experience grief after 1 year. Agape Pet Services website, March 21, 2016 -Repayment or in lieu of repayment, contributions into retirement plans Concierge Services Health Care Financial Lifestyle


Current Trends in Retirement Plans

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Plan Design Trends Automatic Enrollment Auto-Increase Re-Enrollment


■ Defining plan goals

■ Plan design

■ Financial wellness


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-Why are we offering this benefit? -Measure outcomes -Align plan goals to desired outcomes -Monitor performance, and ACT ACCORDINGLY! -Automatic features -Leeraging the employer match -People don’t bucket retirement separately form health and welfare plans/ it’s one decision as it’s one pocketbook -Financial Wellness – Nicole – make this subject of a few slides/expand Nicole’s role/use stats/pictures from net/physical wellness/financial wellness



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Defining plan goals


■ Automatically enroll all employees, not just new hires

■ Start the default rate at 6% not 3%

■ Set a default automatic increase rate of 2%,rather than 1%


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Hold for Auto feature stats



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Financial wellness -Why are we offering this benefit? -Measure outcomes -Align plan goals to desired outcomes -Monitor performance, and ACT ACCORDINGLY! -Automatic features -Leeraging the employer match -People don’t bucket retirement separately form health and welfare plans/ it’s one decision as it’s one pocketbook

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjM8pew2ZvMAhUCSD4KHVeXCcUQjRwIBw&url=http://finance.yahoo.com/news/why-emergency-fund-133808538.html&bvm=bv.119745492,d.cGc&psig=AFQjCNEuHzQMGDP0oNjBPlGSMvO1Idb08Q&ust=1461189338626831

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjM8pew2ZvMAhUCSD4KHVeXCcUQjRwIBw&url=http://finance.yahoo.com/news/why-emergency-fund-133808538.html&bvm=bv.119745492,d.cGc&psig=AFQjCNEuHzQMGDP0oNjBPlGSMvO1Idb08Q&ust=1461189338626831


70%

70% of Americans live paycheck to paycheck

64%

64% can’t cover a $1,000 emergency without borrowing money

24% of their paycheck goes to consumer debt payments

24%

CNN Money 2013

US Census Bureau 2014 Marketwatch 2015


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�In America, Broke is Normal� Why are we offering this benefit? -Measure outcomes -Align plan goals to desired outcomes -Monitor performance, and ACT ACCORDINGLY! -Automatic features -Leeraging the employer match -People don’t bucket retirement separately form health and welfare plans/ it’s one decision as it’s one pocketbook


52%

52% of Americans have less than $10,000 saved for retirement

21%

21% of eligible participants borrow against their 401(k)

The average participant contributes 5.5% of their income

5.5%

USA Today 2014 Plan Sponsor Council of America 2013

Employee Benefit Research Institute 2014


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Broke Affects Your Retirement Plans -Why are we offering this benefit? -Measure outcomes -Align plan goals to desired outcomes -Monitor performance, and ACT ACCORDINGLY! -Automatic features -Leeraging the employer match -People don’t bucket retirement separately form health and welfare plans/ it’s one decision as it’s one pocketbook


Communication Strategies


■ Develop a strong employer brand

■ How do you tell the “whole story” of your benefits package?

■ New workforce = new technology

Communication Strategies

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Presentation Notes

Second bullet - (GA to expand – total budget/total compensation discussion)


Sample Communications


Wrap-Up

■ Cost of replacing a quality employee can be 20% or more of their annual salary

■ Benefits are re-emerging as a competitive advantage

■ More complex / easier to administer

EMPLOYEE BENEFITS

The Partners Group is committed to protecting the privacy of your account information, and we trust that you will show the same sensitivity regarding the content of this presentation. Reproduction or further distribution is strictly prohibited.The Partners Group is committed to protecting the privacy of your account information, and we trust that you will show the same sensitivity regarding the content of this presentation. Reproduction or further distribution is strictly prohibited.

www.tpgrp.com800-722-6339

Portland | Lake Oswego Bellevue | Bend | Bozeman

EMPLOYEE BENEFITS

Thank you for the opportunity to present

to you today!

We will be distributing the PowerPoint, questions that have been posed during this presentation, and HRCI credit forms the week following this presentation.