Benefits Toolkit – Multigenerational Workforce Benefits

From: Staffing

Benefits Toolkit – Multigenerational Workforce Benefits

“Today’s workforce is the most age-diverse in modern history, spanning four—sometimes even five—generations. A person’s age influences many of their characteristics over time, including their preferred benefits. If employers want to provide benefits that their employees will actually use, they must take their varying preferences into account. In fact, one of the biggest challenges for employers is finding benefits that work well for employees of all generations. For instance, a benefit valued by millennials might not be useful for a baby boomer. 

This toolkit is meant to help employers offer the benefits valued most by each generation they employ. Those generational segments have varying expectations about what a benefits program should entail, shaped by their own experiences, culture and lifestyle situations.

Employers can use this toolkit to understand employees’ shared concerns and distinct needs. Employers can then determine how best to tailor their benefits offerings to their employees in order to align with those needs.

Please note that although employers may have discretion when structuring their benefits plans and may be able to make distinctions among employee segments regarding access to and the level of benefits offered, they cannot do so based purely on a protected characteristic, such as age. Rather, employers may choose to tailor their benefits offerings to employees based on employment-based classifications such as length of service to the company. When structuring your organization’s benefits plan, you are strongly encouraged to consult with legal counsel.

In this toolkit, employers will find overviews of each generation, their preferred benefits and tips for creating a multigenerational benefits plan. Be sure to check out the appendix for even more resources. Please reach out to George Belcher Evans & Wilmer for more information or employee resources.”

Please use this link to download and print the toolkit:

Provided by George Belcher Evans & Wilmer