When employers survey their workforces and the sort of compensation they want, it's easy to be led astray by incorrect assumptions. For instance, it is tempting to believe older workers are more concerned with employee benefits such as retirement funds, health insurance and wellness services than their younger counterparts. Unfortunately, such thinking isn't always accurate.
For example, more and more young people are choosing employment that guarantees them additional services on top of their salaries. A recent study by MetLife found that around 60 percent of employers perceived this desire and will be acting to leverage economic conditions toward better employment figures. One excellent way to do this is by seeking the services of an experienced employee benefit specialist.
The MetLife study also found the younger an employee, the more concerned they are with employee benefits. While Generation X staff members (roughly those employees born in the 1970s) considered benefits the most important compensation they received at a rate of 55 percent, over 66 percent of Generation Y workers (born in the 1980s) were concerned with benefits above all else.
This emphasizes how important it is to do business with a reliable employee benefit consultant. Employers who are surprised by these figures can probably speculate about why younger personnel consider benefits so important, but it wouldn't make it any easier for them to decide which sorts of services they should provide. As such, the experience of an employee benefit adviser will help to provide the best package of benefits that will retain young and dedicated employees and keep them from constantly seeking out different employment. This is especially true when unexpected plan additions, such as retirement services, end up being popular among certain groups of young employees.
