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Cross-Generational Benefits

Millennials are now the largest members of the workforce and are close to surpassing Baby Boomers as the largest living adult generation. Generation Z now outnumbers the Greatest Generation in the workforce.

These shifting demographics combined with rising health care costs pose a challenge for employers seeking to develop a competitive benefits plan that satisfies a generationally diverse workforce and contains costs.

Business owners and leaders know this firsthand. Yet, the time-consuming complexities of benefit planning and administration can lead to frustration and delayed action. The unfortunate result is underwhelming benefits that negatively impact workforce satisfaction and productivity.

Benefits are more than a budget line item for health care insurance. Done right they are a diverse collection of offerings that empower employees' success, from insurance to financial education to retirement planning and even workplace banking. This direct link to employees' financial success is one of the keys to building rewarding careers and long-term success.

Multi-generational family members playing games with a small child.

Similarly, the relationship with a benefits provider should be more than a once-a-year discussion around enrollment period. A collaborative partner will provide year-round support and consultation as well as knowledge of the local market.

As employers continue to evolve with preferences of a diverse workforce, partnering with a comprehensive benefits provider can simplify the process and create year-round value for employees regardless of their generation.

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