Communicating Benefits Outside Your Generational Comfort Zone

ISCEBS WebinarAugust 21, 2008

A Looming Disconnect

• Increasingly complex benefit responsibility for employees

• Multiple generations in the workforce• Wider use of “new media”

Choosing Benefits

Jennifer Newperson

• 25 year old single new hire• Full time• $36,000 salary• Next 30 days, choose all benefits

Between now and the end of the next 30 days, what benefit choices would she need to make at your organization?

• Health insurance coverage

• Dental coverage• Flexible spending

account participation• Dependent care

spending account participation

• Health savings account participation

• Retirement plan participation

• Retirement plans and investment choices

• Vacation buy or sell• Life insurance• Disability coverage• Voluntary benefits

Complex Decisions

• Which medical plan? • $$ now and later?• FSA/HSA/HRA?• Save a % of pay for retirement? 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 fund types• Tax bracket• Eligible claims• Year end carryover• Deductible• Reasonable & customary fees

Now Jennifer again, where will she get information about your benefits?Check off sources of information at your organization.

• Meetings

• Brochures

• Newsletters

• Internal benefits website

• Vendor decision tools

• Posters

• E-mails

• Vendor websites

• Flyers

• C. D.'s

• Tutorials

• Videos

• Newspapers

• Blogs

• Podcasts

• FAQ Wiki

Four Generations in Workforce

www.boomerproject.com

Who We AreWho We Are

Generational Values

Generational Values

Defining Events

Defining Events

Conformists, conservative

s

Conformists, conservative

s

Generational ValuesDedication and Sacrifice

Hard workPatience

Respect for authorityDuty before pleasure

Honor

Generational ValuesDedication and Sacrifice

Hard workPatience

Respect for authorityDuty before pleasure

Honor

Silent Generation

Defining Events

Great Depression

The New Deal

WWII

Defining Events

Great Depression

The New Deal

WWII

DrivenSoul

Searchers

DrivenSoul

Searchers

Generational ValuesPersonal gratification

EntitlementControl

Won’t Accept the Status Quo

Work Ethic

Generational ValuesPersonal gratification

EntitlementControl

Won’t Accept the Status Quo

Work Ethic

Boomers

Defining EventsProsperity

Children in spotlightTV

SuburbiaAssassinations

VietnamCivil RightsCold War

Women’s liberation

Defining EventsProsperity

Children in spotlightTV

SuburbiaAssassinations

VietnamCivil RightsCold War

Women’s liberation

Risk-takersSkeptical

Focus on job, not hours

Risk-takersSkeptical

Focus on job, not hours

Generational ValuesTechnosavvyThink GloballySelf-reliance

DiversityPragmatic

Generational ValuesTechnosavvyThink GloballySelf-reliance

DiversityPragmatic

Generation X

Defining EventsWatergate

Single parentsLatchkey kids

MTVAIDs

ComputersChallengerGlasnost

Berlin Wall

Defining EventsWatergate

Single parentsLatchkey kids

MTVAIDs

ComputersChallengerGlasnost

Berlin Wall

OptimisticCo-dependent

Tenacious

OptimisticCo-dependent

Tenacious

Generational ValuesConfidence plus

Civic dutyAchievementStreet smarts

Multi-tasking on steroidsFearless

Generational ValuesConfidence plus

Civic dutyAchievementStreet smarts

Multi-tasking on steroidsFearless

Millennials

Defining EventsInternet Chat

School violenceOver-involved

parentingMulti-culturalism

World Trade Center attacks

Gulf WarIraq

Defining EventsInternet Chat

School violenceOver-involved

parentingMulti-culturalism

World Trade Center attacks

Gulf WarIraq

Four Generations = Different Preferences

• Silent Generation• Baby Boomers• Gen X• Millennials

Everyone is in information overload!

Silent Generation:Information in Print World

• Newspapers• Magazines• Books• Meetings• Television • Radio • Telephone• Internet

Boomers: Information in Age of Aquarius

• Newspapers• Television• Meetings• Books• Radio• Peers• Internet

Generation X: Information in Digital World

• Internet • Blogs• Emails• Wikis• Podcasts• Videos• Print• Meetings

Millennials: Information in New Media World

• Text Messages• Wikis• Blogs• Internet sites• Videos• Podcasts• Online communities• Emails

New Media

• Technology based

• Mobile• Interactive• User-generated

• Wireless• Peer to Peer• Ultrahigh Speed• Instantaneous

Response

New Media

• Blogs

• Podcasts– Sound

• Text Messaging Networks

• Online Communities

• Wikis

• Mashups

• mymoneyblog

• Vault

• ITunes– NPR rebroadcast

• Otair

• Omnilert

• Wesabe

• Wikipedia

• Mapdango

New Media

• www.mint.com• www.mymoneyblog.com• www.cleverdude.com• www.choate.com• www.abcnews.go.com• www.wikipedia.com• www.mapdango.com• www.metacafe.com

What “new media” sources of benefits information are available at your organization?

• Wiki's

• Blogs

• Podcasts

• Interactive discussion rooms

• Text message announcements

• Online communities

• Online mentoring

• Cell phone alerts

• Interactive personalized websites

• Internal search engines

Where to go from here??

Blocking & Tackling

• Who’s your audience?• What’s your message?• What behavior needs to occur?• What does the audience pay attention to?• What media is available?• Timing?• Budget?

Back to Jennifer New Hire

• What are her likely preferred sources of information?

• What does she need to decide?• What does she need to know from

your organization to do that?• What information’s available?• What can be added?• What can be developed?

Questions?

Additional Resources

• www.28media.com– Sharif Ewees

• Global web tools– Debbie Slappey – Mercer – Michael Rudnick – Watson Wyatt

• Southeastern Institute Of Research• www.technorati.com/business/• http://37signals.com/• http://en.wikiversity.org/wiki/Web_2.0#Wikis

Communicating Benefits Outside Your Generational Comfort Zone

Jackie P. Jackson804-864-1925jpjackson@jackconsultingllc.comwww.jackconsultingllc.com