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Gen Z doesn't know what life without technology is like and probably has had a smartphone since elementary school.

Meeting Generational Needs Takes Skilled Administration

Communication is vital, but is done

Employers are challenged to develop

electronically. Employers must have advanced

benefit programs that meet the needs of

technology for this age group and promote

almost-teenagers to nearly retired seniors.

collaboration and teamwork.

Traditional benefit programs like health

As an employer, this age group will still desire health insurance, but you may see a rise in your vision insurance utilization. Because of the expanded use of small, digital devices, there is an explosion of vision-related

insurance are still required, with mental health program expansion for Millennials and Gen Xers. Financial planning and assistance, from student loan payoff to retirement planning, are also valuable benefits.

issues for this age group, with eye doctors

The most challenging aspect of these

recommending limits on screen time to avoid

benefit programs may be administration,

eye strain.

as employers must comply with a myriad

Traditional benefits, retirement planning, and student loan debt are all programs that benefit this age group. You'll also spend extra time explaining these programs if the Gen Zer is new to the workforce.

of regulations for payroll, health benefits, retirement planning, tax savings programs, and student loan assistance, while still keeping them compliant and cost-effective. An experienced broker can help you align your business goals and benefit strategy,

Key BeneďŹ ts for Gen Z: Traditional beneďŹ ts, vision insurance, communication and mentoring, student loan assistance

support your benefits administration team, and help you meet the ongoing challenge of meeting the diverse needs of your multigenerational workforce.

Fry, Richard, "Millennials are the largest generation in the US labor force," Pew Research Center, pewresearch.org, 2018

TABLE OF CONTENTS

EMPLOYEE BENEFITS LOOKING AHEAD 2020 | WOODRUFF-SAWYER & CO.

21

Profile for Woodruff Sawyer

Looking Ahead: Employee Benefits Trends and Solutions in 2020  

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Read our annual Looking Ahead Guide for insight into the 2020 employee benefits marketplace, including election impact, attracting and retai...

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