Industry veteran joins Lockton to help employers develop benefit strategies that attract and retain employees
SEATTLE, Feb. 11, 2019 – People are a company’s most powerful resource and provides their competitive advantage. JoAnn Lau, Lockton’s new employee benefits consultant, works with Washington employers to obtain and retain their workforce. She understands that a multigenerational workforce presents opportunities for new ways of looking at employee benefits outside of traditional healthcare and compensation.
“Washington employers understand that their staff want to be a part of something big,” said Mark Bundy, chief operating officer of Lockton’s Mountain West series. “Helping a business grow their revenue stream isn’t enough to attract top talent. Employers need to think differently, and JoAnn can help them do just that.”
Longevity in the workplace is increasing and so is the diversity and age demographic of employees. Employees age 55 and over grew by 33 percent between 2006 and 2016 and are projected to grow another 10 percent by 2026. Lau understands that a diverse population needs employee benefit options to satisfy employees who are at different stages in their life.
“With a strong economy and three generations to draw from, it becomes challenging for employers to recruit top talent and offer a robust benefit plan. A low medical deductible or employee contribution isn’t enough these days,” Lau said. “You have to look at the personal needs of your entire workforce. Solutions vary for an employee concerned about paying off their student loans, coping with commuting issues surrounding Viaduct, a new parent needing help with child care, to someone concerned about their retirement.”
After more than 30 years in the insurance industry, JoAnn has seen many changes in employee benefits and she has helped employers adapt along the way. Lau worked with businesses through the ups and downs of Seattle’s tech boom, including one client who went out of business and had no health coverage when his spouse was diagnosed with breast cancer and the individual market had left the state. Due to her strong relationships and innovative ideas, Lau was able to find coverage for the client and his whole family.
“I am a strategist. When clients work with me, they get a three-year rolling business plan that anticipates claims, market trends, and coverage challenges,” Lau said. “More importantly, an employer who comes to Lockton can afford to be courageous because of our performance guarantees as well as the benefits from proprietary products, best practices, and our analytical expertise.”
Lau joins Lockton’s growing team on the heels of Brad Cillian, human capital entrepreneur and employee benefits practice leader in the Mountain West. She is part of the Mountain West series, which includes offices in Denver, Phoenix, and Las Vegas. The Washington office is located at 601 108th Ave. NE, Suite 1969, Bellevue, WA 98004 and can be reached by calling 425-279-8200.
Lockton is a global professional services firm with 7,000 Associates who advise clients on protecting their people, property, and reputation. Lockton has experienced rapid organic grown by helping clients achieve their objectives. For ten consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance.”