Most of the talk about reaching the generations in employee benefits today is focused on millennials, the largest generation in the workplace today. But boomers continue to be active business owners and employees and should be on brokers’ radar, according to a recent BenefitsPro.com article by Bruce Hentschel.
Understanding the distinct differences typical of the generations can help you determine the right mix of benefits to recommend to your clients. When it comes to baby boomers in the workplace, Hentschel’s article suggests keeping these factors in mind:
- Evolving Objectives – Needs shift as generations mature and for boomers, the most valuable benefits are those that provide safety and comfort for the future. While the benefits you recommend can be a good fit for any generation, the key is to engage employees in a way that demonstrates how the benefits they are offered meet their varying objectives.
- Need for Flexibility – Boomers are at a place in life where they expect work-life balance because their priorities are changing, with grandchildren, health issues and aging parents at the top of the list. Work with your clients to offer flexible benefit packages that give employees choices.
And while you’re at it, be sure to reference Purchasing Power’s e-guide, “Paving the Road to Financial Wellness with Voluntary Benefits.” This guide to tailoring benefits to meet employees’ diverse needs details popular voluntary benefits for each generation.