Millennials are expected to comprise least 75% of the American workforce by 2025, and those much-discussed young professionals have a host of different attitudes, expectations, wants and needs when it comes to benefits, according to Employee Benefits News.
Among other things, millennials expect a flexible work environment in a technology-enabled job that meets their professional and personal goals. EBN explains that to meet those demands, some employers are turning to voluntary benefits, with offers such as pet insurance, extended leave, counseling services and financial education.
The problem, according to EBN, is that many employers are falling short when communicating the value of these voluntary benefits packages (and all benefits for that matter), with research showing millennials often are "less engaged" with those benefits and also have little knowledge about the value of their benefits and the details of their plans.
Driving the details home on voluntary benefits, and benefits in general, requires creativity on the part of HR and benefits executives. It's not enough to hand out printed materials with some basic online information. More employers are beginning to take advantage of more unusual channels such as text messages alongside direct e-mails and other, common media. The key is to go where the employees are — and often times, that means optimizing communication for mobile.
Even the best, most comprehensive voluntary benefits menu will make little difference if these younger employees are not engaged in the decision-making and encouraged to choose the plans and offerings that they prefer most. Technology can help get the messages across and raise both satisfaction and engagement within the millennial workforce when it comes to benefits.