In 2015, MassMutual published its Employee Benefits Security Study, which contained two key findings.
The first was great news: Employees think about financial wellness in a good way—it matters to them. But the second was more troubling: Two out of every five employees said they’re uncertain about whether they’re on track to retire comfortably, and that personal financial issues have distracted them at work.
As part of the continuing convergence of benefits and the alignment between employers and employees, MassMutual saw in the research a spark of an idea, one that became two exciting new solutions from MassMutual: Viability and MapMyBenefits. Both are designed to help employees as well as employers.
Our mission is to help people retire on their own terms and to protect the ones they love. Our research indicated that there were significant gaps in people’s financial wellness as well as their familiarity with the products and solutions needed to get to that financial wellness.
That’s really what’s driving our focus on the convergence of benefits, because we’ve learned that you cannot help people in one product silo at a time. You have to view them as customers, you have to help them holistically understand their financial wellness, and any solution has to be based on their own personal situation and circumstances. Our solutions are designed to help.
NEXT: The solutions