White Paper: A Multi-Generational Workforce
Today’s workplace is vastly different from what it was just a few decades ago. Indeed, technology has played the biggest role in shaping today’s offices: from the way we communicate with one another to the ever-growing list of distractions present on the job (hello, social media) to the rising trend of teleworking. However, the very people who embody the workplace – the Millennials, Generation Xers, and Baby Boomers – have arguably played just as substantial a role in shaping it as well. Each generation has left its mark, and today’s emerging trends are simply a byproduct of the cultural shift created by the modern-day workforce.
The effects of the evolving workplace have spilled into the employee benefits arena, paving the way for a much more diverse employee benefits landscape – one that’s, in a word, more employee-focused. Today’s workers expect benefit offerings that (1) provide a tangible benefit to their lives, and (2) are tailored to fit their lifestyle. Most importantly though, employees are currently in a position to affect what they’re being offered, and HR professionals should be listening.
Job openings are occurring faster than people are entering the workforce or quitting current jobs, and the Society for Human Resource Management (SHRM) recently reported that nearly one third of organizations have responded by increasing their overall benefits offerings in the last 12 months to remain competitive in the talent marketplace. It’s clear that in this market, employers cannot afford to be cavalier about their benefits, the need to add in offerings that make their organization a more attractive current and prospective employer is critical.
So what types of benefits would add value to the lives of the three different generations comprising their workforce, each with very different needs? And how can employers meet all these needs while keeping down costs? We answer these questions and more in our latest white paper A Multi-Generational Workforce Beckons a More Diverse Employee Benefits Package with One Exception: Identity Protection.
In the white paper we evaluate the unique needs of each generation currently in the professional workforce, how companies can cost effectively offer benefits catered to their unique needs, as well as evaluate a type of benefit that universally appeals and adds value to the lives of individuals in each of these age groupings. The paper also explains how offering identity protection can help your company meet your recruiting and retention goals while decreasing cost.