Celebrating Diverse Leaders in Voluntary Benefits

By Heather & Trevor Garbers

We are highlighting strategies for integrating diversity, equity and inclusion via benefit offerings for our clients in this month’s publication – and we could not do this topic justice without also celebrating a few of the diverse leaders in our industry.

We are excited to share our interviews with Sharla St Rose, DBA, Managing Director with Alterity Group, Seif Saghri, CEO and Founder of BenefitHub, and Shefali Desai, Head of MassMutual Worksite in this month's issue. They are all leaders in our industry driving innovation and here are their unique perspectives on our industry today.

Shefali: I have been in the employee benefits industry my entire career. Right out of college, I entered a management training program that exposed me to the newly developing 401k plan industry, and I fell in love with the purpose and people. Fast forward to today, I remain extremely passionate about helping people be more financially secure. To me, it is all about education, access, and affordability so everyone can protect themselves and their families financially for future dreams and uncertainties.

Seif: My aim was to provide small businesses with access to the remarkable perks and voluntary benefits that have typically been exclusive to largescale employers. As a small business owner back in 1999, I became acutely aware of how larger employers were effectively utilizing their resources to provide group rates and discounts for their workforce. This advantage was predominantly due to their ability to source such benefits, coupled with a sufficiently large employee base to incentivize providers into offering these discounts.

Consequently, I set out on a mission to enlist hundreds of small businesses. In no time, with the amassed strength of over 20,000 employees under our banner, we found ourselves in a position of power to negotiate. Thus, we successfully managed to secure and distribute an array of impressive discounts to these businesses, thereby leveling the playing field in the voluntary and lifestyle benefits space.

Sharla: I always joke that I tripped into the VB industry I was working for a boutique brokerage firm in NYC, after coming from a larger national brokerage/consulting firm. I was working with a large and complicated nursing home client that relied on face-to-face enrollment. The enrollment firm that had been working with this client was not in a position to manage the upcoming enrollment and I was asked to step in to manage it. I knew nothing about VB at that time. And it seems that no one else at the firm did either. I was able to plan the enrollment with the help of some saintly industry veterans who I had access to. Once the enrollment started, I insisted on visiting various locations so I could know what things actually looked like on the ground I learned so much from those visits! Not only did I learn what worked and didn’t work about the enrollment plan we had implemented, but I also got an appreciation for how much employees liked and relied on the voluntary benefits being offered. I recall an employee crying and calling her husband when she was approved for a $10K whole life insurance policy, which she hadn’t been able to get anywhere else I also learned how employees were often confused by complicated benefit terms and options.

It was those moments that made me continue working in VB and I vowed to make it as streamlined and accessible as possible so that those employees who wanted them could have access to them. So, what started out as a temporary project turned out to be a lifelong career and continues to impact my approach to insurance consulting. Voluntary benefits should be part of any comprehensive benefit program. There are multiple stakeholders in what we do, as we should always have the best interest of our clients and employees in mind.

Seif: I've been fortunate to have never really felt that my ethnicity, or the fact that I was born in Iran, affected how people dealt with me. Perhaps having been an entrepreneur for 38 years meant that I never had to experience any untoward behavior or biases from superiors, colleagues, or prospective employers. When dealing with clients, I believe that people will always look beyond the cover of the book to seek out the best solution for their company (who would purposefully choose the second-best option?). Similarly, because the technology sector workforce has a high percentage of ethnic minorities (approximately 40% vs 25% for general population), it would be difficult for a client to have the expectation of being able to avoid working with someone like me.

Sharla: This is always a tough question. The thing about impact is that you don’t always know when it’s happening. However, I can say that wherever I go, in whatever situation I am in, I come to it knowing that I am tasked with addressing the concerns of different stakeholders, whatever those concerns may be. I aim to make our conversations more about finding solutions to their problems than anything else. That typically results in the development of a trusting relationship, independent of their original concerns.

Shefali: It has impacted every day of my working life, and it remains a learning experience, nearly every day. As a woman and a South Asian in the financial services industry, I used to walk into meeting rooms and be the only woman there and the only person of color most of the time. I certainly felt seen, but not necessarily heard. That is why it is so refreshing today to walk into meeting rooms and see others like me. To be sought out and valued for my unique lens and perspectives. To be trusted as a leader and a ‘change agent’ for the betterment of our company and our offerings I am proud to work for a company that has invested in building culturally competent and inclusive leaders through education centered on allyship so that we all understand the impact of bias and systemic privilege while underscoring the pivotal role that we all play as allies.

Sharla: For a long time, I didn’t always think that I had the ability to be my authentic self in the work environment. And I’m not talking about my hairstyles, clothing, or speech pattern. For me, being my authentic self means that I can work and lead in a way that is true to who I am I am tough, empathetic, have exceedingly high expectations of myself, my team members, and my partners I am not a “hard talker” and I like to solicit suggestions and advice from others on my team. At the same time, I am very decisive when needed, and I have a high degree of confidence in my ability to succeed with any given task I also have a very corny sense of humor and like to use the smiley face emojis. Once I felt comfortable bringing all of me to my workplace, I believe that I became both a less frustrated and a more effective leader.

Shefali: Resilience. Every leader must overcome obstacles and setbacks. Some of them can be very hard and some may feel very personal. The important thing is to believe in yourself so that you can dust yourself off and get up again. What makes that possible is ensuring you have a good support system at work and outside of work.

As a woman and a South Asian in the financial services industry, I used to walk into meeting rooms and be the only woman there and the only person of color most of the time. I certainly felt seen, but not necessarily heard.

Seif: My approach to diversity has had dual impacts. Firstly, within our own company, we have instituted an inclusive culture that values diverse perspectives, subsequently leading to diversity among our own team members. Evidence of its effectiveness is exemplified by the fact that women constitute 48% of our global team, a figure notably higher than the tech industry's average of 26%. Secondly, in the voluntary benefits marketplace, we perceive a core part of our job is to extend our services to all our clients' employees, irrespective of age, gender, race, ethnicity, personal aspirations, or economic background.

Our culture of diversity within BenefitHub has enhanced our understanding and capacity to cater to the varied needs of the diverse array of employees of our clients.

Shefali: Voluntary benefits providers serve people of many different cultures, upbringings and living arrangements, and they need to meet them on their own terms. They are people with different views on planning for their futures and caring for their loved ones People with different needs and dreams. This is why we at MassMutual strive to reflect diversity in our workforce and to more deeply understand the communities we serve. That is why I embrace a learning mindset Listening carefully Watching thoughtfully. Taking into account the different voices of those around me. And asking a lot of questions to inform and validate what we offer and how we offer it. At times during my career, particularly early on, I did not feel ‘heard.’ Today, I am sought out for my perspectives. And I seek out perspectives from others to ensure they feel heard and represented, and to ensure that we have voices at the table that represent the customers we serve.

Sharla: Employees are multidimensional. We don’t all fit into boxes or quadrants based on our gender, year we were born, race, or other demographic characteristics. For example, I first became a mom at 19, so by the time I had my first corporate job at 21, my concerns and needs were vastly different than my 21 year-old peers. I was all about having comprehensive medical insurance, the 401k match, and saving for a home. That taught me to never assume what people want or need. It also taught me the importance of offering a robust benefit program which provides employees with well vetted benefit options that can fit their own unique needs. Taking time to assess the actual needs of our employee populations will continue to be important.

Shefali: Access to group voluntary benefits in the workplace can be a terrific ‘equalizer’ because it helps to reduce barriers to financial education and tools that people may not have access to otherwise. It is important for voluntary benefit providers to embrace flexibility and simplicity in their approach for the entire customer experience, from awareness, education and enrollment to claims and customer support. People need to trust the company behind the products and who they are working with at every stage and feel confident that the solutions they choose either eases burdens or enables them to focus on what is truly important in their lives. At no time is this more pivotal than when someone needs to use their benefit. As an example, life insurance and supplemental health insurance benefits often come at a time of crisis and the benefit may be the person’s only financial safe haven It is where we can really shine and make a difference in someone’s life.

Seif: The optimal strategy unquestionably involves viewing each person as a distinct individual, which necessitates providing a personalized experience to every employee. In today's digital era, this is feasibly accomplished through the implementation of two critical components. The first component requires a comprehensive range of offerings, ensuring that all possible preferences and requirements of the employees are catered to.

The second component involves discerning everyone’s current/real time interests and presenting them solutions in a timely and relevant context, a task readily accomplished through the application of Artificial Intelligence. By harnessing the capabilities of AI, we can effectively personalize the experience for each employee, thereby delivering a service that not only meets, but also anticipates, their unique needs In considering what might be included in the broad portfolio of benefits, we will need to:

Conduct thorough research and analysis to understand the diverse needs and preferences of employees (much of this research has been done and is published annually by the big consulting firms).

Offer a range of benefits options to accommodate different demographics and individual circumstances.

Provide clear and accessible communication about benefits to ensure everyone understands their options.

Create an inclusive and supportive culture where employees feel comfortable expressing their needs and concerns.

Regularly evaluate the effectiveness of benefits programs and make necessary adjustments based on feedback and changing needs.

Shefali: A company and a person’s commitment to diversity, equity and inclusion is not about ‘checking a box’ or putting words on your website It is about intent and action. Companies can play a material role in eliminating systemic structures that exacerbate economic inequities. It is about moving way beyond the days of anyone feeling alone and like the only one in a room that is different. For us, this vision for a better world begins with creating a culture of inclusion and belonging, and hiring and developing talent that values diverse backgrounds, experiences, and perspectives. At our company, DEI is more than a commitment or an ancillary strategy, but a true part of our company’s business imperatives today and looking into the future. Our commitment to DEI is not new. It is a journey that we have been on for more than a decade, focused on education, action, and accountability. And our results show that this works.

Seif: We can foster an inclusive culture: Create a culture that values diversity and inclusion at all levels of the organization. Encourage open dialogue, respect different perspectives, and ensure that everyone feels included and valued. The exciting thing about going down this path is that it is also great for the bottom line!

Sharla: Start with the employees you have. Give them the same opportunity to advance as others, provide them with the training and support they need to advance and if you ever find yourself doubting their leadership abilities, ask them about their leadership experiences in their day to day lives. I have known Black men and women who were effective leaders in their churches, communities, fraternities, and sororities, but who struggled to progress in their corporate careers due to not being seen as leaders, or simply not being seen. Then, of course, we need to recruit effectively Insurance is not the most desired industry, mostly because of bad press and unfamiliarity with the various roles and opportunities that exist, so we need to be very intentional about attracting all newcomers. Regarding specific efforts to increase diversity, it’s my belief that when job seekers start seeing more and more people who look like them succeeding and thriving, they too will be more attracted to our industry.

Note from the Editor: We have the opportunity to make a difference in the lives of so many people in the U.S. today through the policies and plans that we recommend to our clients and implement ourselves as employers. Starting with ensuring that the benefits we offer are equitable and solve for various needs from: healthcare and financial wellness initiatives to help advance socioeconomic standards, to even expanding the list of covered conditions on Critical Illness plans to include conditions that disproportionately impact specific groups of people; we can use our unique position to drive awareness and change and there is no better time than the present.

Sharla St. Rose, DBA, Managing Director with Alterity Group - As Managing Director of Alterity, Sharla is responsible for developing and executing the company’s business strategies. In her role, Sharla focuses on delivering adaptive and innovative solutions while addressing the unique needs of each client. In addition to being client focused, Sharla has helped organizations move into new markets and drive expansive growth while developing tremendous business relationships and credibility along the way.

Seif Saghri, CEO & Founder, BenefitHub. BenefitHub is a lifestyle benefits company offering the world’s largest selection of employee and member discounts, voluntary benefits and rewards, There are currently over 10,000 clients in 15 countries that use BenefitHub to delight and engage their 20 million+ employees and members

Shefali Desai, Head of Worksite with MassMutual, drives the success of the company’s worksite business that provides voluntary benefit and executive group life insurance solutions through employers to the mass market. She brings over 30 years’ experience in the financial services industry to this crucial business, including 22 years with MassMutual, where she functions as both a leader and an industry disruptor.