With over 14.6 million families, the multi-employer or labor market represents more than 10% of the US workforce. Women comprise more than 45% of union members, and union members generally have higher wage and better benefits packages than their non-union counterparts.
With over 14.6 million families, the multi-employer or labor market represents more than 10% of the US workforce
Lucrative as the multi-employer market might be, it can be very difficult to gain a foothold. Trustees, on a regional and national basis, communicate with their peers regularly, and are not shy about asking for referrals. The labor culture is very different from that of the corporate world. Lack of understanding and appreciation of the nuances of labor’s unique culture has foreshadowed the end of many a company’s efforts to sell into this market.
However, with the right guidance, product positioning, cultural awareness, and – most importantly of all – relationships, the multi-employer market can be very worthwhile. Companies which have successfully entered this market are patient, offer high value products and services, and appreciate the cultural differences of working with multi-employer trusts.
Not understanding, appreciating, and integrating labor’s unique culture endangers your efforts in this market
If your product can help trustees increase the value of the healthcare they provide to their members and families, reduce costs for the health fund, or provide insights that help trustees make better decisions on behalf of their members, let’s talk about how we can help you enter or expand in this important market.