Promoting employee benefits by generation helps boost enrollment
Segment the work force and promote benefits to each generation on its terms
ST. PAUL, Minn.--(BUSINESS WIRE)--Employers who address employees’ wants and needs by generation could see an uptick in benefits enrollment.
Appealing to each segment
“Benefit needs by generation,” a paper from the Group Insurance division of Securian Financial Group, gives employers a general understanding of each generation’s characteristics and preferences, providing a strategy for boosting enrollment.
“Different generations respond to different approaches,” said Paula Bilitz, director, Group Life Marketing, Securian Financial Group. “Employers who tailor their benefits communications to employee preferences have a better chance of persuading them to enroll.”
The Securian paper offers strategies for each generation:
- Baby boomers (born 1946-64) appreciate honest, simple language and financial scenarios. They also want information about estate planning.
- Approach Generation X (born 1965-81) with virtual marketing and a focus on significant life events such as marriage, having children or changing jobs.
- To effectively market to millennials (born 1982-93), use online resources to reach out to them while opening lines of communication to HR to provide support.
Another approach to improving benefits enrollment is to ask employees what they like and don’t like about the current process.
“Employees are often willing to share critiques of their company’s benefits communications and provide suggestions for making them better,” said Bilitz.
About Securian Financial Group
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, Securian is the holding company parent of a group of companies that offer a broad range of financial services.
DOFU 12-2014 A06163-1214