Communicating Benefits Outside Your Generational Comfort Zone ISCEBS Webinar August 21, 2008

A Looming Disconnect Increasingly complex benefit responsibility for employees Multiple generations in the workforce Wider use of “new media”

Choosing Benefits

Jennifer Newperson 25 year old single new hire Full time $36,000 salary Next 30 days, choose all benefits

Between now and the end of the next 30 days, what benefit choices would she need to make at your organization? Health insurance coverage Dental coverage Flexible spending account participation Dependent care spending account participation Health savings account participation Retirement plan participation Retirement plans and investment choices Vacation buy or sell Life insurance Disability coverage Voluntary benefits

Complex Decisions Which medical plan? $$ now and later? FSA/HSA/HRA? Save a % of pay for retirement? How much is that? What investment funds to select? Can I buy more vacation? Do I have the right life insurance? Do I have to have disability benefits? Am I ever going to have fun again?

Difficult Financial Concepts Net pay Cash flow Pre tax Investment fund types Tax bracket Eligible claims Year end carryover Deductible Reasonable & customary fees

Now Jennifer again, where will she get information about your benefits? Check off sources of information at your organization. Meetings Brochures Newsletters Internal benefits website Vendor decision tools Posters s Vendor websites Flyers C. D.'s Tutorials Videos Newspapers Blogs Podcasts FAQ Wiki

Four Generations in Workforce

Who We Are Generational Values Defining Events

Conformists, conservatives Generational Values Dedication and Sacrifice Hard work Patience Respect for authority Duty before pleasure Honor Generational Values Dedication and Sacrifice Hard work Patience Respect for authority Duty before pleasure Honor Silent Generation Defining Events Great Depression The New Deal WWII Defining Events Great Depression The New Deal WWII

Driven Soul Searchers Driven Soul Searchers Generational Values Personal gratification Entitlement Control Won’t Accept the Status Quo Work Ethic Generational Values Personal gratification Entitlement Control Won’t Accept the Status Quo Work Ethic Boomers Defining Events Prosperity Children in spotlight TV Suburbia Assassinations Vietnam Civil Rights Cold War Women’s liberation Defining Events Prosperity Children in spotlight TV Suburbia Assassinations Vietnam Civil Rights Cold War Women’s liberation

Risk-takers Skeptical Focus on job, not hours Risk-takers Skeptical Focus on job, not hours Generational Values Technosavvy Think Globally Self-reliance Diversity Pragmatic Generational Values Technosavvy Think Globally Self-reliance Diversity Pragmatic Generation X Defining Events Watergate Single parents Latchkey kids MTV AIDs Computers Challenger Glasnost Berlin Wall Defining Events Watergate Single parents Latchkey kids MTV AIDs Computers Challenger Glasnost Berlin Wall

Optimistic Co-dependent Tenacious Optimistic Co-dependent Tenacious Generational Values Confidence plus Civic duty Achievement Street smarts Multi-tasking on steroids Fearless Generational Values Confidence plus Civic duty Achievement Street smarts Multi-tasking on steroids Fearless Millennials Defining Events Internet Chat School violence Over-involved parenting Multi-culturalism World Trade Center attacks Gulf War Iraq Defining Events Internet Chat School violence Over-involved parenting Multi-culturalism World Trade Center attacks Gulf War Iraq

Four Generations = Different Preferences Silent Generation Baby Boomers Gen X Millennials

Everyone is in information overload!

Silent Generation: Information in Print World Newspapers Magazines Books Meetings Television Radio Telephone Internet

Boomers: Information in Age of Aquarius Newspapers Television Meetings Books Radio Peers Internet

Generation X: Information in Digital World Internet Blogs s Wikis Podcasts Videos Print Meetings

Millennials: Information in New Media World Text Messages Wikis Blogs Internet sites Videos Podcasts Online communities s

New Media Technology based Mobile Interactive User-generated Wireless Peer to Peer Ultrahigh Speed Instantaneous Response

New Media Blogs Podcasts –Sound Text Messaging Networks Online Communities Wikis Mashups mymoneyblog Vault ITunes –NPR rebroadcast Otair Omnilert Wesabe Wikipedia Mapdango

New Media

What “new media” sources of benefits information are available at your organization? Wiki's Blogs Podcasts Interactive discussion rooms Text message announcements Online communities Online mentoring Cell phone alerts Interactive personalized websites Internal search engines

Where to go from here??

Blocking & Tackling Who’s your audience? What’s your message? What behavior needs to occur? What does the audience pay attention to? What media is available? Timing? Budget?

Back to Jennifer New Hire What are her likely preferred sources of information? What does she need to decide? What does she need to know from your organization to do that? What information’s available? What can be added? What can be developed?

Questions?

Additional Resources –Sharif Ewees Global web tools –Debbie Slappey – Mercer –Michael Rudnick – Watson Wyatt Southeastern Institute Of Research

Communicating Benefits Outside Your Generational Comfort Zone Jackie P. Jackson