Generali Global Assistance Publishes White Paper on the Employee Benefits Landscape and the Use of Identity Protection in Financial Wellness Packages

Posted April 10, 2018 2:04 pm & filed under News
Generali Global Assistance Publishes White Paper on the Employee Benefits Landscape and the Use of Identity Protection in Financial Wellness Packages

Company provides expert insight on today’s diverse employee landscape and benefits packages that are uniquely suited to retain and attract a talented workforce

Generali Global Assistance (“the Company”), a leader in the assistance industry since its founding in 1963, part of the multinational Generali Group, and the developer of a proprietary and innovative identity and digital protection platform, today published a white paper titled, “A Multi-Generational Workforce Beckons a More Diverse Employee Benefits Package with One Exception: Identity Protection.” The white paper provides business owners and human resources professionals with critical information on today’s evolving workforce, how a new wave of talent recruitment and retention efforts are driving improved benefits packages, and detail on existing financial wellness solutions which are uniquely positioned to benefit both the employee and the employer.

As today’s workforce has changed dramatically from decades past, so has the employee benefits landscape.  The Society of Human Resources Management’s (SHRM) most recent employee benefits report revealed that nearly one-third of organizations increased their overall benefits offerings in the last 12 months, citing competition to retain talent as the number one reason.  Additionally, in that same report, 40% of employees said they would consider the possibility of seeking employment elsewhere in the next year, with looking for better overall benefits coming in as the second most important reason; higher pay of course being the first.  The workplace has been shaped by those who embody it –Millennials, GenXers, and Baby Boomers – each have distinct workplace values which has caused a shift to a much more diverse and employee-centric benefits landscape.  Considering the cultural differences and sweeping benefits changes, employers and human resources professionals must implement the right financial wellness solutions to protect their most valued commodity (the workforce), and therefore the financial stability of the organization.  Please find the full white paper available for download here.

Paige Schaffer, President and COO of Generali Global Assistance’s Identity and Digital Protection Services Global Unit, commented on today’s news, “For decades, employee benefits packages were mainly about providing suitable healthcare to your workforce. However, given the issues we face in today’s interconnected world, coupled with the drastic changes of the employee landscape, that is simply no longer the case.  Tailored benefits packages that go beyond traditional healthcare and retirement savings have become critically important and demonstrates an added layer of caring.    For example, incorporating identity protection into your employee benefits portfolio, particularly as part of a financial wellness program, demonstrates to your employees that you want to help them achieve financial piece of mind as well as protect what is most valuable.”

Employees who have dealt with identity theft and fraud know that the resolution process can be long and arduous. Each year the Identity Theft Resources Center (ITRC) releases an Aftermath report, seeking answers from identity theft victims to determine both the short-term and long-lasting ramifications of various types of identity theft.  The 2017 report found that almost a quarter of respondents (22%) had to take time off work as a result, with ~30% saying they had lost interest in work/activities.  For many victims the crime takes a serious emotional toll as well, as three-quarters of the respondents expressed sever distress over the misuse of their personal information, while two-thirds said they were afraid for their financial future.

Ms. Schaffer concluded, “Identity theft’s impact can be severe, both emotionally and financially.  Having assurance from an employer that they not only care, but are looking out for their employees’ best interests is likely to instill loyalty and commitment, thus boosting retention.  You are not only reducing stress and distractions, but also providing a proactive layer of protection in the event your company experiences a breach of employee data.  In today’s modern world, identity theft protection is a critical component of any employee benefits package.”

To learn more about Generali Global Assistance’s identity protection offering, please visit http://us.generaliglobalassistance.com/solutions/identity-protection.

About Generali Global Assistance
Generali Global Assistance has been a leading provider of identity and digital protection solutions, travel insurance, and other assistance services for more than 25 years.  The Company offers a full suite of innovative, vertically-integrated identity protection solutions, beneficiary companion services, travel insurance, and emergency services.  Generali Global Assistance is proudly owned by Europ Assistance Holding, a division of the multinational Generali Group, which for over 185 years has created a presence in 60 countries with over 76,000 employees.  Our success has been built on the foundation of trust that clients have placed in our ability to provide assistance in the most difficult of circumstances.

GGA Media Contact
Jay A. Morakis
M Group Strategic Communications (for Generali Global Assistance)
+1 212.266.0191
jmorakis@mgroupsc.com

GGA Marketing Contact
Eugenia Buggs
VP, Global Marketing, Identity and Digital Protection Services Global Unit
+1 240.330.1091
eugenia.buggs@us.generaliglobalassistance.com