By Alissa Gavrilescu on May 29, 2018 10:29:40 AM
When it comes to millennials in the workplace, what motivates them, keeps them engaged, and the employer benefits they crave looks slightly different from previous generations. Millennials are generally open to new opportunities and are motivated more by their environment and accolades than they are by compensation or benefits. However, a company’s benefits still play an important role when they make decisions about employment and plan for their future. With millennials making up 50 percent of the workforce by 2020, understanding how to best communicate benefits to them is an important skill for insurance brokers.
These five simple tips will make communicating benefits to millennials a cinch.
#1 - Focus on the benefits that matter most
Millennials are looking for benefits that provide them with better work-life balance and peace of mind. Start the conversation by asking which benefits are most important to them and then focus your time on highlighting those. This can make the listener feel as if the presentation was customized for them and shows respect for their time, and this generation is big on personalization.
#2 - Highlight how it impacts them
Because of changes in legislation, many millennials remain on a parent's insurance policy until they're 26, often well after they're able to get benefits of their own. Help your client understand why they should be considering benefits and how having their own policies will impact their daily life.
#3 - Showcase convenience and accessibility
The youngest generation of workers is looking for products and services that make their lives easier and allow them to focus on working hard and playing hard. Benefits that can be managed online - especially from their mobile device - will score higher than benefits that require paperwork and snail mail.
#4 - Deliver the message in an engaging way
The more you can use infographics, animated videos, and interactive training messages, the more attention you'll capture and the more information your audience will retain. Millennials aren't so different from the audience you've addressed in years past; they don't want to sit in front of a droning presenter for hours on end when they could either be producing great work or relaxing in a hammock at home.
#5 – Highlight transparency tools
Transparency is a language millennials crave. When it comes to healthcare, this generation is the largest to want estimates and cost expectations up front for their treatments. For example, dental benefits with a clear-cut co-pay schedule, like a DHMO, might be better products to offer them. If a carrier provides treatment cost calculators, provider ratings or other transparency tools, be sure to bring those up. Over 75 percent of millennials look at online reviews before selecting a medical provider and social media sites and review sites are often highly ranked tools this group uses to aid their decision making.
With these simple tips, communication benefits to your client’s millennial employees should be a breeze.