The Company
A multi-national financial services firm with multiple American affiliates.
The Need
- Most of the affiliates were on their own group long-term disability platforms and were intending to stay that way due to their cultures and operating agreements with the parent company.
- All of the plans covered base salary only and in an industry in which much of the compensation is variable in nature, the income replacement for most earners was not adequate.
- The parent company HR needed to provide a solution for any affected employee at all of the affiliates.
- The solution needed to include an education strategy that took into account the unique underlying disability plan design at each affiliate.
The Solution
Jim Mooradian & Associates worked with the parent company to design an SDIP program that:
- Was designed specifically for each affiliate;
- Took into account the size of the entire group for the purpose of negotiating with the insurance carrier;
- Was flexible in how each affiliate was to be billed.
We introduced the program to employees using:
- A custom designed web site that each eligible employee was directed to visit;
- Dedicated telephone and web enrollment systems;
- On-site group meetings at each affiliate with a member of the JMA team and a representative from corporate HR.
The Result
We achieved 40% participation.
“Not only did the program enroll flawlessly and allow more people to access more income on a favorable basis, it was also a win for the corporate HR department as it allowed us to meet with our affiliates on a positive topic and deliver value.”