Prudential Financial recently released a report entitled Back to Basics. In the report, the company surveyed workers to see what their top financial concerns are. The results of the report are interesting, to say the least.

According to the report, consumers have two worries that come to the top when it comes to finances: job security and making ends meet. Workers rank these concerns above all others, including the concern for “having appropriate health insurance coverage.” Having health insurance coverage has been a concern of workers in the United States for many years.

The report from Prudential gathered information from benefit plan participants, as well as consultants, plan sponsors and benefits brokers. The findings are used to help support employers as they plan their business strategies and their health care plans.

Here are some of the other things the Back to Basics study found:

• Over the past three years, the level at which consumers rank the issue of “saving for retirement” has declined significantly. This is especially true in 2009. The study suggests that more short term financial needs have started to outweigh those longer view concerns.
• Workers are also less convinced that they will be able to retire when they want to, with five percent fewer workers saying they know for sure when they can retire.
• Around half of workers indicated that they have taken a look at reevaluating their life insurance needs in the past twelve months.

For employers, the message here is clear. Employers can help their businesses and their company morale by making sure they focus on long term security in their benefit offerings to employees. Having a high quality benefits plans with extra options, such as life insurance, keeps the company competitive in the employment marketplace. In addition, these benefits add a sense of well being for the employee that almost certainly will result in greater productivity.

The Back to Basics report is the second report in a series of five. The report is part of Prudential’s Study of Employee Benefits: 2009 and Beyond. This report is built on three different surveys aimed at plan sponsors, plan participants, and employee benefits brokers.

One thing the report doesn’t yet study is the effect of the political climate on workers attitudes about medical insurance. With the conversation in Washington moving more and more toward a universal health care coverage plan, no doubt some workers are starting to worry less about medical coverage. At the same time, the debate may also cause concern among business owners and even health plan administrators, as radical changes to the health care system would no doubt have a rippling effect throughout the business world.