It’s also helpful to remember that, although grouping workers into age bracket sand generations may be tempting, the generations are not homogenous groups. For instance, would the same financial protection benefits appeal to two people in the same generation, one with young children and one without? Choice and flexibility Considering this, one option might be providing a menu of benefits to choose from to enable people to pick the benefits they think will best work for them. That way, your clients provide at least some options to suit all workers, regardless of their life stage. Tailored communications across a variety of channels Now that your clients understand the generational priorities within their workforce, the next step is to understand their employee’s communication preferences. That way, they can find the easiest way to make sure everyone is aware of all the benefits available to them. By learning to communicate in the style, manner and channel each generation prefers, your clients can tailor their messaging effectively. Surveying their workforce will give employees the opportunity to confirm how they prefer to receive communications, helping to drive engagement with their rewards and benefit package. Review and evolve Maintaining an effective rewards and benefits strategy is not a once-and-done job. It’s important to review and evolve their offering by regularly seeking employee feedback, speaking to their financial adviser, and monitoring industry trends. From here your clients can understand where they need to scale and innovate to continually meet the diverse needs of an ever-changing multigenerational workforce. Value added services To effectively address the diverse needs of a multigenerational workforce, it is essential that your clients design and create a flexible rewards and benefits strategy. Understanding the preferences and needs of different generations within their workplace community allows them to more effectively pinpoint rewards and support that genuinely resonate with each age group. While financial protection products, like Group Life Insurance and Group Income Protection may form part of their employee benefits strategy, they can deliver far more than financial support. Employee Assistance Programmes, virtual GP appointments, lifestyle coaching and mental health support are just some examples of value added services that each generation may tap into when possibly not needing to make a claim. Helping your clients to leverage these additional support services can help them in acknowledging generational differences and creating a benefits strategy for everyone’s benefit. Looking to get a Group Risk quote for your clients? As part of Unum’s partnership with Paradigm, you can take advantage of exclusive terms (details can be found on Unum’s partner page). Paradigm’s preferential rates are available via the UnumOnline portal where you can quote, buy, renew and service policies online. You'll need to use the portal to start all your new business quotes for Unum Group Risk policies for employers with fewer than 100 members. Log in or register with UnumOnline to get instant access to your best price*. Health, Happiness, and Productivity. Supporting the wellbeing of Britain’s workers and the growth of the economy. A WPI Economics study commissioned by Unum UK, November 2023. Censuswide survey of 4,035 UK employees (aged 16-69) between 20-21 September 2023 *For Group Income Protection, Group Life and Group Critical illness quotes with 3-100 members Unum Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered and Head Office: Milton Court, Dorking, Surrey RH4 3LZ. Registered in England company 15 SUMMER PROTECT NEWSLETTER
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