Employee Benefits through the Eyes of Millennials
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You can probably look across your workforce and quickly recognize you have a diverse population based on generation. This generational gap that most organizations are experiencing can bring some challenges. The key is to embrace these differences amongst generations and identify ways to appease both ends of the spectrum.
Some of the differences are quite easy to recognize: the level of engagement with new technology, social media, work/life balance and the list goes on. However, one thing that often gets overlooked is the benefits program offered by employers. This poses an important question: how are organizations structuring their employee benefits to appeal to millennials?
We’ve made note of a few things we’ve learned when we surveyed this generation with regards to how they want to handle and deal with their benefits:
- They want immediate access to information through technology – texts, mobile apps, videos, etc.
- They value wellness programs, PTO, additional perks like gym memberships and incentive based programs more than anything
- They’re most likely to seek out referrals/advice from friends and family when making employee benefits elections
- They’re quick to make decisions.
- They want cheap benefits (but who doesn’t?!)
So with the ever changing workforce, it’s important to ensure your benefits program can align with the priorities of millennials and all generations to retain and attract top talent!
- Communicating Benefits to a Multi-Generational Workforce Webinar Replay
- I Don’t Like Millennials
- Why Health Insurance Isn’t Enough for the New Kids on the Block
- Redesigning Office Life for Generation Y
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