When it comes to making key decisions about voluntary benefits, there is often a disconnect between the way in which millennials are given information and how they actually want to receive such information. Marketing and developing messages specifically to a certain audience is no longer as easy as it used to be. A millennial and a Gen Xer may be experiencing some of the same situations in life such as having children or paying off debt at different ages. As a result, some of the same messaging is used to reach them.
Research shows that millennials will make up approximately 75 percent of the entire workforce over the next two years. Due to this growth, they will become prime customers for voluntary benefits including health and wellness and 401(k). As this group of people starts families of their own, acquires more debt, but yet remain the same independent and technology-driven people that they have always been, breaking through to them will come with its challenges. When planning enrollment communications for voluntary benefits, marketers must ensure their message resonates with this segment of the workforce including understanding what they care about the most.
When it comes to message delivery, research shows that multiple touchpoints of communication are the most effective. On average, millennial employees prefer communication through digital content, printed material, and face-to-face interaction with a benefits or human resources representative. The better you communicate the more your company offers in terms of benefits, the more millennials tend to buy. Multiple touchpoints allow millennials to feel as if you are providing value to them while at the same time offering steady and beneficial offers.
Communication and education are critical components of the benefits and enrollment process. To learn more about how you can use a multi-pronged and multi-channel approach more effectively within your company, view this white paper from Trustmark Insurance Company.