Communicating Employee Benefits to the Generations

COMMUNICATING EMPLOYEE BENEFITS TO THE GENERATIONS

W hen designing and communicating employee benefits, the benefits offered and the message conveyed should be tailored to the different generations represented in your workplace to ensure clarity, engagement, and satisfaction. Research ( https://www.purdueglobal.edu/ education-partnerships/generational-workforce-differences-infographic/ ) shows that each generation has distinct preferences, values, and communication styles. Understanding these differences can help employers effectively create and convey the value of benefits packages. The chart below shows how different generations might be motivated, the most effective communication style, and the types of benefits each generation values most. Note that these generational descriptions loosely represent different life- stages, but regardless of what generation a person is born into, they may be experiencing different life stage journeys and look to employers to offer benefits that align for them.

BABY BOOMERS Before 1965

GENERATION X 1965 - 1980

MILLENIALS 1981 - 2000

GENERATION Z 2001 - 2020

Optimistic | Competitive | Team-Oriented • Motivated by: Company loyalty, teamwork, duty • Communication Style: phone, face-to-face, meetings, fairs

Flexible | Informal | Skeptical | Independent • Motivated by: Life balance, personal/ professional interests • Communication Style: phone, face-to-face

Competitive | Civic- and Open-Minded | Achievement Oriented • Motivated by: Responsibility, their manager, unique work experiences • Communication Style: IM, texts, and email Desired Benefits: • Community service/ sabbaticals • Continuous learning education • Family leave and childcare benefits • Fertility benefits • Financial planning assistance • Flexible PTO & vacation • Mental health resources • Remote work benefits • Student loan repayment and tuition savings programs

Global | Entrepreneurial | Progressive | Less Focused • Motivated by: Diversity, personalization, creativity • Communication Style: social media, texts, IMs

Desired Benefits: • Caregiving benefits • Comprehensive

Desired Benefits: • Financial planning assistance • Flexible work • Holistic health and well-being benefits

Desired Benefits: • Caregiving benefits • Comprehensive

traditional benefit plan options

traditional benefit plan options • Retirement benefits and healthcare planning • Workplace flexibility and transition planning • LTC Planning • Lifestyle planning

• Financial planning assistance • Flexible scheduling • Remote work benefits • Retirement benefits and healthcare planning • LTC Planning • Lifestyle planning

• Mental health benefits • Mentoring opportunities and learning management tools • Parental leave options • Professional development resources • Tuition reimbursement

ALERA GROUP

COMMUNICATING EMPLOYEE BENEFITS TO THE GENERATIONS

Emotional Being equipped to cope with life's stresses, work productivity and realizing your full potential

Career Liking what you do each day and being motivated to achieve your goals

Financial Managing your economic life to reduce stress and increase security

Physical Having good health and enough energy to get things done daily

Community Liking where you live, feeling safe and having pride in your community

Social Having supportive relationships and love in your life

Designing Benefits with Wellbeing in Mind In addition to considering generational preferences, employer-sponsored benefits that satisfy and support the six essential elements of wellbeing can help inspire a healthier, more engaged, and productive workforce. These elements of wellbeing — physical, career, social, emotional, community and financial are interconnected and essential for the overall satisfaction and health of your teams. Offering benefits that support to these individual dimensions can boost morale, reduce turnover, and improve workplace culture. Here are examples of how employee benefits can address each of the six essential elements of wellbeing Physical Wellbeing Focus: Physical health, fitness, and the ability to maintain a healthy lifestyle. • Health Insurance: Comprehensive medical, dental, and vision plans that cover preventive care, illness, and emergencies. • Wellbeing Benefits: Subsidies or memberships for gyms, fitness classes, or personalized challenges that encourage healthy habits. • Health Screenings: Offering regular health screenings, vaccinations, or on-site health check-ups to monitor and increase awareness about personal health risks. • Paid Time Off (PTO): Adequate vacation and sick leave that allow employees to rest, recharge, and recover from illness without financial stress. • Ergonomic Workspaces: Providing ergonomic office furniture and standing desks to support physical comfort and correct posture while working. • Nutritional Support: Highlighting integrated health benefits like nutritional counseling services or standalone programs that provide personalized nutrition guidance can aid individuals in their own health journey. • Condition Support Programs: Most health plans also incorporate condition -specific solutions geared to provide clinical care for chronic conditions, clinical advocacy, and resource guidance for navigating difficult care pathways.

ALERA GROUP

COMMUNICATING EMPLOYEE BENEFITS TO THE GENERATIONS

Career Wellbeing Focus: Workplace satisfaction, peer-to-peer support, development opportunities, and professional growth. • Learning and Development Programs: Offering opportunities for skill-building, professional development courses, leadership training, certifications, and ongoing education. • Mentorship and Coaching: Providing mentorship programs or career coaching to help employees develop within the organization and grow professionally. • Career Progression and Promotions: Clear pathways for career advancement and promotions based on performance, effort, and potential. • Performance Bonuses and Recognition: Rewarding employees for their hard work with bonuses, awards, or personal / public recognition. • Flexible Job Roles: Offering opportunities for employees to move between departments or roles within the company, enhancing engagement and skill development. Social Wellbeing Focus: Relationships, connections, and a sense of belonging both at work and in personal life. • Team-building Activities: Organizing events, retreats, or team- building exercises that strengthen relationships and create a sense of camaraderie. • Social Clubs or Groups: Offering groups or interest-based clubs (e.g., sports, book clubs, volunteering) that encourage individuals to connect outside of work tasks. • Recognition Programs: Recognizing and celebrating milestones, achievements, or anniversaries to promote a sense of community and belonging. • Workplace Culture Emphasis: Building a culture that fosters a more inclusive and supportive workplace where all employees feel valued. • Family Support Benefits: Providing resources or support for employees with families, such as childcare assistance, eldercare resources, caregiver assistance, or paid family leave. Include benefits that support four-legged family members like pet insurance, workplace pet policies, and incorporate pet- focused aspects to leave-related benefits.

ALERA GROUP

COMMUNICATING EMPLOYEE BENEFITS TO THE GENERATIONS

Community Wellbeing Focus: Building a connection to one’s community and having comfort and a sense of pride in one’s surroundings. • Sustainable Workspaces: Eco-friendly office environments that include energy- efficient lighting, recycling programs, and encourage sustainability. • Green Benefits: Offering incentives for using public transport, biking to work, or carpooling. Some companies provide subsidies for eco-friendly commuting options. • Safety Programs: Ensuring that employees work in safe and secure environments, including workplace safety training and procedures. • Flexible Workspace Options: Providing comfortable, quiet spaces for focused work or collaborative spaces for team interaction, allowing employees to work in an environment that suits their needs. • Corporate Social Responsibility Initiatives: Supporting community outreach, volunteer opportunities, or environmental causes, creating a sense of purpose and connection to broader societal goals. • Connection with Community Partners: Highlight community partnerships and service providers, creating connections for your teams to other organizations, sponsors, and resources in the local community. Mental Wellbeing Focus: Bolstering emotional health, stress management, and mental clarity. • Mental Health Benefits: Access to counseling, therapy sessions, or Employee Assistance Programs (EAPs) to help individuals cope with stress, anxiety, or mental health challenges. • Stress Reduction Programs: Activities like mindfulness, meditation sessions, or workshops on stress management techniques. • Paid Mental Health Days: Offering mental health days into your company’s PTO strategy to foster a supportive work environment. • Supportive Work Culture: Promoting a culture of openness where individuals feel comfortable discussing their mental health needs without fear of stigma. Provide managers with training to have open dialogue and steer to resources about mental health. • Flexible Work Options: Allowing flexible hours or remote work to help employees manage stress and achieve a work-life balance. • Caregiver Support Benefits: Providing the support members need to navigate challenging care journeys for aging parents or young children, alleviating the stress and burden these roles often create for families.

ALERA GROUP

COMMUNICATING EMPLOYEE BENEFITS TO THE GENERATIONS

Financial Wellbeing Focus: Empower individuals to manage their finances, save for the future, and feel secure in their financial lives. • Retirement Plans: Offering 401(k) or pension plans with employer matching, helping employees save for retirement. • Financial Wellness Programs: Providing financial education seminars, one-on-one financial coaching, or tools to help employees manage debt, savings, and investments. • Education Assistance: Student Loan Repayment Assistance: Helping employees pay off student loans through student loan repayment programs, negate some education costs with tuition reimbursement programs, or save for a child’s education with 529 plans, can offer a valuable way to make education affordable. • Competitive Salaries and Bonuses: Providing fair wages and incentive-based bonuses that allow employees to feel financially secure and motivated. • Stock Purchase Plans: Offering stock options or purchase plans that allow employees to invest in the company’s success and build wealth over time. Following the suggestions around generational benefits and communication preferences as well as incorporating the six elements of wellbeing within your employee benefit programs will go a long way to effectively engaging employees around their benefit options.

ALERA GROUP

COMMUNICATING EMPLOYEE BENEFITS TO THE GENERATIONS

Aligning Access to Care with Generational Perceptions To maximize the impact of employee benefits, employers must consider both the offerings and how employees access them. With healthcare's rapid digital transformation, understanding generational differences in healthcare engagement is crucial. Despite high virtual care adoption (58%) and wearable ownership (50%), generational disparities exist in trust, access, and technology utilization. By leveraging these insights, employers can strategically design benefit packages that resonate with each generation, fostering a healthier and more engaged workforce.

• > 60% own a smartwatch or connected device and track menstruation, weight, and physical activity • Deeply curious about personal health and wellness • Communicate most often with texting • Using AI tools for health care “diagnosing” of conditions and exploring treatment options • Follow #wellness trends on social media platforms • Use multiple communication methods of phone calls, apps, texts, and live video • Own multiple digitally enabled devices from smartwatches, smart rings, smart scales, connected monitoring devices • Less tied to establishing longstanding provider relationships • Half this population owns a wearable or connected device, but those that do use them for digital tracking • Seek digital care when it makes their lives easier • Maintain trusted relationships with healthcare providers • Largely prefer in-person care and may trend to analog tracking of medical metrics • 68% used virtual care in the past year • Embrace on-demand care, wearables, and apps to fit busy lives • More than a third of this population owns a smartwatch or connected device • Nearly half have used virtual care in the past year • Navigating complex healthcare channels with multiple providers • Build trusted relationships with doctors, pharmacists, and health systems • Significant distrust in sharing information with insurers

Generation Z

Millennials

Generation X

Baby Boomers

Rock Health. "Screenagers to Silver Surfers: How Each Generation Clicks With Care." *Rock Health Insights*, 28 Nov. 2023, https:// rockhealth.com/insights/screenagers-to-silver-surfers-how-each-generation-clicks-with-care/ . One size does not fit all when it comes to employee benefits.

ALERA GROUP

COMMUNICATING EMPLOYEE BENEFITS TO THE GENERATIONS

The Playbook When assessing benefits and promoting engagement, first understand your workforce: • Who is your audience?

• How do they best process information? • What benefits are important to them?

Next, evaluate the benefits available to ensure that these match with what is important and valued to your workforce. • Do you consider the six elements of wellbeing in your benefit offerings? • Are the six wellbeing elements sufficiently represented within those benefits? • Are the benefits offered meeting the needs of your workforce? • Do you offer a mix of healthcare options, some that embrace technology, while others rely on traditional healthcare access models? Next, think about how you currently communicate benefits to existing and new employees. • Are you offering benefits that are important to all the generations in your workforce? • Is your messaging about these benefits tailored to someone in their 60s, as well as someone in their 20s? • Do you have a communication strategy to communicate these benefits through multiple channels throughout the year? Re-evaluate how your benefits are portrayed to individuals you might be looking to hire. • Do our benefits align with the population we are looking to hire? • Are we communicating and portraying our organization through a forum in which they receive information? • Do our benefits technology tools offer a wide array of communication modalities? Lastly, Refining your benefits strategy is an ongoing process. Don't be discouraged as this is about strategic planning, not perfection. The most crucial step is to get started. Start with building a foundation of thoughtful, personalized benefits and communication that resonates with each employee's unique life stage, using insight and data to help refine along the way.

ALERA GROUP

About Alera Group Alera Group is an independent financial services firm with approximately $1.5 billion in gross revenue, offering comprehensive property and casualty insurance, employee benefits, wealth services and retirement plan solutions to clients nationwide. Working collaboratively across specialties and across the country, Alera Group’s team of more than 4,500 colleagues offer unique solutions, personalized services and proactive insights to help ensure each client’s business and personal success. For more information, visit aleragroup.com and follow us on LinkedIn . *STATISTICS ACCURATE AS OF JANUARY 1, 2025.

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