Benefits Complexity Ramped Up. Example 25 year old single female new hire Full time $36,000 salary.

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Presentation transcript:

Benefits Complexity Ramped Up

Example 25 year old single female new hire Full time $36,000 salary

Choosing Benefits

Complex Decisions Which medical plan? $$ now and later? FSA/HSA/HRA? Do I save a % of my pay? 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 funds Tax bracket Year end carryover Deductible Networks

Where Do They Get Their Information?

GI Generation (81 and older) Silent Generation (61-80) Baby Boomers (42-60) Generation X (24-41) Gen Y * (4-23) *( a.k.a - Millennials or Eco-boomers) GI Generation (81 and older) Silent Generation (61-80) Baby Boomers (42-60) Generation X (24-41) Gen Y * (4-23) *( a.k.a - Millennials or Eco-boomers) Today’s Generations

Information in Age of Aquarius Boomers (over 45) –Meetings –Handouts –Booklets –Local community contacts –Internet –Videos –Podcasts

Information in New Media Gen X and Millennials (under 45) –Cell phones –Online communities –Blogs – s –Internet –Podcasts –Print –Video –Meetings

New Media Technology based Mobile Interactive User-generated Wireless Peer to Peer Instant Speed

New Media Blogs Podcast –Sound –Video Text Messaging Online Communities Or Social Networks

New Media Blogs Podcasts –Sound –Video Text Messaging Online Communities Craigslist ITunes –NPR rebroadcast YouTube Text Message Networks Wesabe

New Media

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

25 Year Old New Hire??? Millennials Generation X

Questions

Benefits Complexity Ramped Up Jackie P. Jackson