Today’s workforce primarily spans three generations from Millennials to Baby Boomers and they look at work, life, money, and finances in totally different ways. Likewise, they have different benefit needs. Many of their varying benefits needs can be addressed through the many non-traditional voluntary benefits on the market today.
Employees might be paying the premium, but it’s the employer who decides what voluntary benefits employees will have to choose from. So what’s the best way for you to advise your clients on which ones to offer? Their employee generational profile is the key. Employers need to know which voluntary products will most benefit the generations represented in their workers.
Breaking today’s workforce down by generation reflects a different picture of what is important to them and dictates the non-traditional voluntary benefits that would likely be of interest to them.
An October 8 article in BenefitsPro.com by Elizabeth Halkos outlines lists of non-traditional voluntary benefits that appeal to each of the three generations in the workforce.