Anytime a new generation comes into the office, they bring with them their styles and attitudes. Millennials are energetic, technology-savvy and educated. And benefits matter to Millennials (defined as anyone born between 1981 and 1994). Nearly half (49%) of Millennials cited the employee benefits they received as a strong driver of financial security and peace of mind.
However, just like all your other employees, you have to do a good job communicating your benefits if you want Millennials to understand and use the plans. So squeeze into those skintight jeans and follow these communication tips.
- Use social media to reach them. Younger workers are online all the time. And they’re all over the place – from Pinterest to YouTube. You can’t expect them to dig around for your benefits information when their attention is scattered and limited. Instead, give them important benefits information on the platforms they use. Facebook and Twitter are great to feed Millennials with important updates and reminders instantly throughout the year.
- Be honest and straightforward. Keep in mind that theMillennial generation is growing up in a very cynical age. Their natural reaction is to question authority. If healthcare costs are going up, don’t put a spin on it. Be honest and explain how much they’re rising, why, and what resources can help them manage their costs.
- Don’t overwhelm them with information. Can a generation that is being raised on 140-character limit sentences be expected to read a dozen pages on health savings accounts? Not likely. Instead, give them bite-sized chunks of the very best fodder – health savings accounts (HSAs) have tax advantages, roll over year to year and can be used for medical expenses. See how easy that was?
- Tailor your communication to their life stage. A 55-year-old has a very different perspective on retirement and finances than a 25-year-old, who is just starting his or her professional career. Make sure your benefits communication messages resonate with your audience. For Millennials, let them know about financial literacy programs that can help them with debt management, paying off student loans, buying a home and starting a savings plan.
- Let them know they have options. Not all health plans are designed the same. Some are better for working families. Some are just right for single, young adults. Make sure your communication highlights the differences. Younger, healthier workers, for example, might prefer low-cost consumer-driven health plans.
- Have fun! You’re only young once, and this generation is making the most of that. Inject humor, sarcasm and inspiration into your benefits content and visuals. Or offer contests for best posters or videos that explain the new wellness program. However you define fun, it is sure to get Millennial’s attention and participation.