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What Each
Generation
Wants and                                                 > Boomers
                                                          > Boomers
Needs from
Benefits:
Tailoring your program to
                                                                  > Generation Jones
                                                                  > Generation Jones
maximize retention and
productivity.
It’s easier than you think.

                                                                  > Gen X > Gen X
   Ronald S. Leopold, MD, MBA, MPH
   Vice President
   US Business, MetLife
Metropolitan Life Insurance Company, 200 Park
Avenue, New York, NY 10166 L0410102030
[Exp 0411]                                      > Gen Y
                                                > Gen Y
New decade. New realities for each generation.

           > The Great Recession has changed everything.
           > Americans have a lower appetite for risk*
           > Social security benefits face growing uncertainties**
           > Medicare benefits face even greater challenges**
           > Health care reform is a game-changer
           > Demographics and longevity will reshape our landscape**




                                                                                 [ Presented on behalf of MetLife ]
> True Boomers          > Generation Jones        > Gen X              > Gen Y
Think about your life and times




                                                             [ Presented on behalf of MetLife ]
> True Boomers      > Generation Jones   > Gen X   > Gen Y
Generations, engagement and loyalty

         > Benefits drive retention, attraction and productivity*
         > One size does not fit all*
         > It’s not about spending more. It’s about spending differently*




                                                                                                                  [ Presented on behalf of MetLife ]
                                                                        *Leopold, R. The Benefits Edge, MetLife
                                                                        2009



> True Boomers          > Generation Jones         > Gen X                   > Gen Y
True Boomers        Generation Jones     Generation X        Generation Y

 Age 60               Age 50              Age 38              Age 24


Entered workforce    Entered Workforce   Entered Workforce   Entered Workforce
1971                 1981                1993                2007




Formative years      Formative years     Formative years     Formative years
1962-1971            1972-1981           1984-1993           1998-2007




    (1946-1955)           (1956-1964)        (1965-1980)          (1981-1994)
 True Boomers         Generation Jones    Gen X               Gen Y
> Cuban Missile Crisis > The Draft
                                      > Vietnam War         > The Pill
                                      > Kent State          > Flower Power




                                                                                  [ Presented on behalf of MetLife ]
                                      > November 22, 1963 > Hippies
My Groove: 1962-1971
                                      > Gemini 7            > Civil Rights
                                      > Apollo 11           > Woodstock
                                      > The Cold War        > The Great Society

   (1946-1955)
True Boomers
True Boomers       Generation Jones         Gen X                   Gen Y
> Midnight Cowboy     > Ed Sullivan Show
                                       > Lava Lamps          > Love Story
                                       > Love beads          > The Graduate




                                                                                  [ Presented on behalf of MetLife ]
                                       > Rolling Stones      > LP Albums
Formative years: 1962-1971             > Polaroid Cameras    > Civil Rights
                                       > Transistor Radios   > Motown
                                       > Color Television    > Laugh-In

   (1946-1955)
True Boomers
True Boomers        Generation Jones         Gen X                  Gen Y
> Formative Years: 1962-1971




Work and benefits, circa 1971
     >Electric Typewriters                  >Fringe Benefits
     >Rotary Phones                         >Personnel Department
     >Steno Pool                            >Major Medical Coverage
     >Carbon Paper                          >Marcus Welby Era Of Medicine
     >Reproduction Department               >OSHA
     >Uniform Pay Increases                 >Pay Stubs
     >Women In Skirts                       >Non-portable Pensions




                                                                              [ Presented on behalf of MetLife ]
Work, circa 1971




   (1946-1955)
True Boomers
True Boomers             Generation Jones      Gen X                  Gen Y
> Formative Years: 1962-1971




Work Outlook

    > “Whatever it takes!”
    > Valued for experience & institutional knowledge**
    > Process-oriented and associate work ethic with hours at work**
    > Expects to stay in the workforce*
    > Don’t count on job flexibility*
    > Sometimes tentative with technology**




                                                                                                            [ Presented on behalf of MetLife ]
Work Outlook
                                                                 *8th Annual MetLife Study of Employee
                                                                 Benefits Trends, MetLife, 2010
                                                                 **Leopold, R. The Benefits Edge, MetLife
                                                                 2009




   (1946-1955)
True Boomers
True Boomers             Generation Jones            Gen X                             Gen Y
> Formative Years: 1962-1971




Work Strategies

    > Hardest hit by great recession*
    > Have added 4 – 7 years to age of retirement**
    > Job accommodations
    > Off-ramping programs and assistance
    > Technology education and training
    > Tenure recognition programs




                                                                      [ Presented on behalf of MetLife ]
Work Strategies




   (1946-1955)
True Boomers
True Boomers            Generation Jones              Gen X   Gen Y
> Formative Years: 1962-1971




Benefits Outlook

    > Most likely to say benefits are a reason to remain with employer*
    > Least likely to be willing to contribute to, or pay for benefits**
    > Least likely to say that benefits communications are effective**
    > Not always as comfortable with newer communication technologies***
    > Not necessarily comfortable with work-life balance approaches*
    > Focused on containing-expenses*




                                                                                                           [ Presented on behalf of MetLife ]
Benefits Outlook
                                                                           *Pew Research Center, 2009
                                                                           **8th Annual MetLife Study of
                                                                           Employee Benefits Trends,
                                                                           MetLife, 2010
                                                                           *** Leopold, R. The Benefits
                                                                           Edge, MetLife, 2009


   (1946-1955)
True Boomers
True Boomers             Generation Jones                 Gen X                          Gen Y
> Formative Years: 1962-1971




Benefits Strategies

    > Leverage benefits to drive retention
    > Pay attention to messaging around cost-shifting.
    > Face-to-face or telephonic explanation of benefits.
    > Encourage work life innovations
    > Discount and group-purchasing opportunities
    > Printed benefits materials to the home




                                                                      [ Presented on behalf of MetLife ]
Benefits Strategies




   (1946-1955)
True Boomers
True Boomers             Generation Jones             Gen X   Gen Y
> Formative Years: 1962-1971




Health Strategies
    > Prepare for a healthy active retirement
    > Affordable health coverage until Medicare
    > Affordable pharmaceuticals
    > Cancer screening
    > Disease management programs
    > Critical illness insurance
    > Chronic condition management
    > Vision and hearing coverage




                                                                  [ Presented on behalf of MetLife ]
Health Strategies




   (1946-1955)
True Boomers
True Boomers             Generation Jones         Gen X   Gen Y
> Formative Years: 1962-1971




Wealth Strategies
    > Managing retirement disbursements with confidence*
    > A retirement plan to last a lifetime
    > Lowest appetite for risk**
    > Prefer face-to-face financial advise**
    > Include annuities in retirement options
    > Medicare supplements
    > Retirement health and drug benefits




                                                                                            [ Presented on behalf of MetLife ]
Wealth Strategies
                                                           * 8th Annual MetLife Study of
                                                           Employee Benefits Trends, 2010
                                                           ** Generational Advisor.com




   (1946-1955)
True Boomers
True Boomers             Generation Jones         Gen X                  Gen Y
>Stagflation       >Three Mile Island   >The Bicentennial
                >Energy Crisis     >Patty Hearst        >ERA
                >Me Decade         >Sky Lab             >Nixon Resignation




                                                                              [ Presented on behalf of MetLife ]
                >War in Cambodia   >Watergate           >Affirmative Action
                                                        >Detente
               Formative years: 1972-1981
                                                        >Iran Hostages



                   (1956-1964)
True Boomers    Generation Jones
               Generation Jones          Gen X                 Gen Y
>The Brady Bunch    >Star Wars        >The Mod Squad
                >Mood Rings         >UHF Television   >Captain & Tennille
                >Peter Frampton     >Bee Gees         >Partridge Family




                                                                            [ Presented on behalf of MetLife ]
                >Jaws               >8-Track Tapes    >Boogie Down
                                                      >Suede Vests
               My Vibe: 1972-1981
                                                      >Funk Music



                   (1956-1964)
True Boomers    Generation Jones
               Generation Jones           Gen X              Gen Y
> Formative Years: 1972-1981




Work and benefits, circa 1981
   > Typewriter Cartridges                  >Dependent Coverage
   > Mail Department                        >Dawn Of Managed Care
   > Touchtone Phones                       >ERISA
   > Post-It Notes                          >Fee For Service
   > Calculators                            >DRGs
   > Women in the workforce                 >Stock Options
   > Rolodexes                              >ATMs




                                                                            [ Presented on behalf of MetLife ]
                     Work, circa 1981



                         (1956-1964)
True Boomers          Generation Jones
                     Generation Jones                  Gen X        Gen Y
> Formative Years: 1972-1981




Work Outlook

       > “We got a raw deal!”
       > Not counting on job flexibility*
       > Willing to work long hours**
       > Still hoping to climb the career ladder**
       > Solid work ethic**
       > As a group…want their share**




                                                                                 [ Presented on behalf of MetLife ]
                               Work Outlook
*8th Annual MetLife Study of
employee Benefits Trends,
2010
**www.JonathanPontell.com/
aboutgenjones

                                   (1956-1964)
True Boomers                    Generation Jones
                               Generation Jones                  Gen X   Gen Y
> Formative Years: 1972-1981




Work Solutions

   > Recognize Generation Jones
   > Career advancement opportunities
   > Job security
   > Introduction to new technologies
   > Charitable-matching
   > Group discounts




                                                                        [ Presented on behalf of MetLife ]
                     Work Solutions



                           (1956-1964)
True Boomers          Generation Jones
                     Generation Jones                   Gen X   Gen Y
> Formative Years: 1972-1981




Benefits Outlook

        > Greater willingness to accept employee-paid benefits*
        > Lower rates of benefits satisfaction*
        > Greatest opportunity to drive loyalty with benefits*
        > Want both web and face-to-face communications**
        > Growing appetite for retirement security*
        > Employee benefits are a key to retention**




                                                                               [ Presented on behalf of MetLife ]
*8th Annual MetLife Study
                             Benefits Outlook
of Employee Benefits
Trends, MetLife, 2010
** Leopold,R. The Benefits
Edge, MetLife, 2009


                                 (1956-1964)
True Boomers                  Generation Jones
                             Generation Jones                  Gen X   Gen Y
> Formative Years: 1972-1981




Benefits Strategies

   > Utilize multiple communications strategies
   > Executive options
   > Total compensation statements
   > Recognize potential for complex family units
   > Personal financial coaching and planning
   > Employer matching benefits




                                                                        [ Presented on behalf of MetLife ]
                     Benefits Strategies



                          (1956-1964)
True Boomers          Generation Jones
                     Generation Jones                   Gen X   Gen Y
> Formative Years: 1972-1981




 Health Strategies

          > EAP with robust mental health benefits
          > Incentives to participate in prevention and wellness
            programs
          > Substance abuse programs
          > Fitness and weight loss
          > Onsite medical services
          > Rich dental plans




                                                                                     [ Presented on behalf of MetLife ]
•AARP Study: Impact of Economy     Health Strategies
on Health Behaviors, Aug. 2009
**Clinical Preventive Taskforce,
CDC
***Us Dept. of Health & Human
services: SAMHSA, Aug 2009



                                       (1956-1964)
  True Boomers                      Generation Jones
                                   Generation Jones                  Gen X   Gen Y
> Formative Years: 1972-1981




Wealth Strategies

   > “I was closer to retirement at age 40, than 50” *
   > Retirement planning fast-tracking**
   > Financial advice & guidance
   > College savings plans
   > Disability and life (supplemental and GVUL)
     buy-up options
   > Estate planning advice services
   > Long term care




                                                                                                  [ Presented on behalf of MetLife ]
   > Group annuities
                      Wealth Strategies
                                                                  *Charles Schwab billboard
                                                                  **8th Annual MetLife study of
                                                                  Employee Benefits Trends,
                                                                  MetLife, 2010




                           (1956-1964)
True Boomers            Generation Jones
                       Generation Jones                   Gen X            Gen Y
>Reagonomics           >AIDS                  >Star Wars Defense
               >Desert Storm          >Princess Diana        >Iran-Contra
               >1987 Stock Market     >Nelson Mandela        >Downfall of Communism




                                                                                       [ Presented on behalf of MetLife ]
               >Space Shuttle         >Latchkey Kids         >Rise of the PC
               >Fall of Berlin Wall
                                                 Formative years: 1984-1993
               >Challenger Disaster



                              (1956-1964)               (1965-1980)
True Boomers            Generation Jones          GenGen X
                                                     X                         Gen Y
>Atari               >Break Dancing           >Cheers
               >Miami Vice          >MTV                     >Sony Walkman
               >Diet Coke           >Home Alone              >Ghostbusters




                                                                                     [ Presented on behalf of MetLife ]
               >VCRs                >Duran Duran             >Just Say No
               >Billy Idol
                                              My Signal: 1984-1993
               >Max Headroom



                             (1956-1964)             (1965-1980)
True Boomers             Generation Jones         GenGen X
                                                     X                       Gen Y
> Formative Years: 1984-1992




Work and benefits, circa 1993

    >Dot-Matrix Printers                           >401-Ks
    >Beepers                                       >Work Life Balance
    >Monster Cell Phones                           >Diversity Sensitivity
    >PC Computers                                  >Co-Pays
    >Multi-Job Careers                             >Americans With Disabilities Act
    >Cubicles                                      >HMOs and PPOs
    >Floppy Disks                                  >Cafeteria Plans




                                                                                        [ Presented on behalf of MetLife ]
                                                 Work, circa 1993




                                                       (1965-1980)
True Boomers          Generation Jones                X
                                                   GenGen X                     Gen Y
> Formative Years: 1984-1992




Work Outlook

      > “Just tell me what’s going to be on the test.”
      > Work to live*
      > Results are more important than process*
      > Technology junkies*
      > Work independently*
      > Company culture important to loyalty**
      > Concerned about career advancement*




                                                                                                [ Presented on behalf of MetLife ]
                                                                    Work Outlook
*Kovary G. & Buahere A.:The Road to
Performance Success, 2003
**8th Annual MetLife Study of Employee
Benefits Trends, MetLife, 2010


                                                                          (1965-1980)
True Boomers                             Generation Jones                X
                                                                      GenGen X          Gen Y
> Formative Years: 1984-1992




Work Strategies
                               > Work life balance programs are paramount
                               > Telecommuting and flexible hours
                               > Virtual workplace
                               > Child care arrangements
                               > Informal communication style
                               > Career fast-tracking programs
                               > Pay for performance




                                                                             [ Presented on behalf of MetLife ]
                                             Work Strategies



                                                   (1965-1980)
True Boomers      Generation Jones             GenGen X
                                                  X                  Gen Y
> Formative Years: 1984-1992




Benefits Outlook

     > Most satisfied with employee benefits*
     > Most engaged in benefits offerings and innovations*
     > Most apt to utilize work-life balance programs*
     > Most apt to have beneficiary coverage changes
     > Often under-insured**
     > Want to better understand the value of benefits*




                                                                                            [ Presented on behalf of MetLife ]
                                                                Benefits Outlook
 *8th Annual MetLife Study of Employee
 Benefits Trends, MetLife, 2010
 **Three Steps to Closing the
 Underinsured Gap: MetLife, 2010


                                                                      (1965-1980)
True Boomers                         Generation Jones                X
                                                                  GenGen X          Gen Y
> Formative Years: 1984-1992




Benefits Strategies

                             > Online management of benefits (evergreen)
                             > Protection education and tools
                             > Voluntary benefits:
                                   – Life and disability buy ups and options
                                   – Auto and home insurance
                                   – Legal benefits and estate planning
                                   – Pet insurance




                                                                                  [ Presented on behalf of MetLife ]
                                           Benefits Strategies



                                                 (1965-1980)
True Boomers    Generation Jones             GenGen X
                                                X                         Gen Y
> Formative Years: 1984-1992




Health Strategies

                              > Full dependent coverage
                              > Onsite weight loss and fitness programs.
                              > Maternity benefits with flexibility
                              > Innovative EAP programs
                              > Dental plan with family options
                              > Special needs programs
                              > Wellness & fitness programs




                                                                              [ Presented on behalf of MetLife ]
                                           Health Strategies



                                                 (1965-1980)
True Boomers    Generation Jones             GenGen X
                                                X                     Gen Y
> Formative Years: 1984-1992




Wealth Strategies

                             > Guidance on the right amount of coverage
                             > Disability coverage and buy-up options
                             > Life insurance flexibility (Term & Supplemental)
                             > Retirement advice and planning programs
                             > College savings plan
                             > Roth IRA




                                                                                  [ Presented on behalf of MetLife ]
                                          Wealth Strategies



                                                (1965-1980)
True Boomers   Generation Jones             GenGen X
                                               X                        Gen Y
>Dot Com Boom     >Iraq War               >Dot Com Bust
  >War on Terror    >Hurricane Katrina      >Social Media
  >Y2K              >Cultural Diversity     >Stock Market Rally




                                                                               [ Presented on behalf of MetLife ]
  >The Web          >Gay Marriage           >Reality Television
  >Anthrax
                                      Formative years: 1998-2007
  >Columbine



                                                                     (1981-1994)
True Boomers       Generation Jones             Gen X              GenGen Y
                                                                      Y
>The Simpsons       >PlayStation            >Red Bull
  >Titanic            >Justin Timberlake      >Snapple
  >MySpace            >ITunes                 >Eminem




                                                                         [ Presented on behalf of MetLife ]
  >Black-Eyed Peas    >Friends                >X-Files
  >Survivor
                                        My Link: 1998-2007
  >X-Box



                                                               (1981-1994)
True Boomers         Generation Jones             Gen X      GenGen Y
                                                                Y
> Formative Years: 1998-2007




       Work and benefits, circa 2007

             >Virtual Office                             >Total Rewards
             >Outsourcing                                >Double Digit HC Inflation
             >Cell Phones                                >Consumer Driven Plans
             >24/7                                       >Wellness
             >Downsizing                                 >HIPPA
             >Blackberries                               >Voluntary Benefits




                                                                                                [ Presented on behalf of MetLife ]
                                                  Work, circa 2007




                                                                                      (1981-1994)
      True Boomers             Generation Jones             Gen X                 GenGen Y
                                                                                     Y
> Formative Years: 1998-2007




       Work Outlook

                > “No worries.”
                > Accustomed to being the center of attention*
                > More trusting of leadership*
                > Keen on winning*
                > So beyond email !*
                > Work in swarms, leave at 5pm*
                > Eager to learn*




                                                                                        [ Presented on behalf of MetLife ]
                                                           Work Outlook

      *Smith S., Talent Market
      Series, Deloitte & Touche, 2007


                                                                              (1981-1994)
      True Boomers                      Generation Jones            Gen X   GenGen Y
                                                                               Y
> Formative Years: 1998-2007




     Work Strategies

                                     > Instant messaging, texting, social media
                                     > Recognition and acknowledgement programs
                                     > Mentoring programs
                                     > Work group flexibility
                                     > Work-life flexibility
                                     > Virtual work




                                                                                              [ Presented on behalf of MetLife ]
                                                  Work Strategies



                                                                                    (1981-1994)
      True Boomers             Generation Jones                 Gen X             GenGen Y
                                                                                     Y
> Formative Years: 1998-2007




       Benefits Outlook

               > Getting smarter about benefits, faster *
               > More reliant on parental advice *
               > Value benefits that reflect the diverse needs of the workforce *
               > Most comfortable with web-based delivery *
               > Benefits are not a reason to stay with a company**
               > Value lifestyle benefits **




                                                                                                  [ Presented on behalf of MetLife ]
                                                                   Benefits Outlook
      *Leopold R. The Benefits Edge, MetLife,
      2009
      **8th Annual MetLife Study of Employee
      Benefits Trends, MetLife, 2010


                                                                                        (1981-1994)
      True Boomers                              Generation Jones             Gen X    GenGen Y
                                                                                         Y
> Formative Years: 1998-2007




     Benefits Strategies

                                    > Push the envelope on web-based benefits delivery
                                    > Incorporate social media strategies
                                    > Benefits orientation sessions- parents invited
                                    > Volunteering and charitable contribution matching
                                    > Legal benefits
                                    > Maximize choice and options




                                                                                                 [ Presented on behalf of MetLife ]
                                                  Benefits Strategies



                                                                                       (1981-1994)
      True Boomers             Generation Jones              Gen X                GenGen Y
                                                                                     Y
> Formative Years: 1998-2007




     Health Strategies

                                                 > Intrigued by use of technology in health and wellness*
                                                 > Less likely to have a personal physician*
                                                 > Highest rates of accidents (MVA, home, sports)**
                                                 > Access to on-site or off-side walk-in clinics
                                                 > Fitness club memberships
                                                 > Dental coverage
                                                 > Nutritious options in vending machines & cafeteria




                                                                                                               [ Presented on behalf of MetLife ]
                                                 > Online pharmacy

                                                               Health Strategies
      *Generation Y:2008 Survey of Health
      Care Consumers, Deloitte & Touche
      **www.valueoptions.com/generation Y


                                                                                                     (1981-1994)
      True Boomers                          Generation Jones               Gen X                   GenGen Y
                                                                                                      Y
> Formative Years: 1998-2007




     Wealth Strategies
                                     > Affordable auto & renters insurance
                                     > Auto-enrollment in 401(k) plans
                                     > Savings plans and banking services*
                                     > Basic Term Life insurance with buy-up options
                                     > Disability coverage with buy-op options
                                     > Money management education programs
                                     > Financial planning forecasting tools




                                                                                                 [ Presented on behalf of MetLife ]
                                                  Wealth Strategies



                                                                                       (1981-1994)
      True Boomers             Generation Jones              Gen X               GenGen Y
                                                                                    Y
Generational Benefits Strategies

                 > Broaden your benefits portfolio
                 > Introduce flexibility to your offerings
                 > Not every benefit will appeal to everyone
                 > Focus on the value propositions for each generation
                 > Utilize multiple communications platforms
                 > Focus on building loyalty and engagement




                                                                                   [ Presented on behalf of MetLife ]
> True Boomers         > Generation Jones          > Gen X               > Gen Y
Potential Next steps


                 > Think about the generational make up of your workforce
                 > Does your current benefits program satisfy the different needs of each
                   generation?
                 > Consider how you might recalibrate your benefits offerings based on
                   today’s insights?
                 > Remember - Generational differences will only get more important with
                   time!




                                                                                            [ Presented on behalf of MetLife ]
> True Boomers         > Generation Jones       > Gen X                  > Gen Y

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Leopold - What Each Generation Wants & Needs from Benefits

  • 1. What Each Generation Wants and > Boomers > Boomers Needs from Benefits: Tailoring your program to > Generation Jones > Generation Jones maximize retention and productivity. It’s easier than you think. > Gen X > Gen X Ronald S. Leopold, MD, MBA, MPH Vice President US Business, MetLife Metropolitan Life Insurance Company, 200 Park Avenue, New York, NY 10166 L0410102030 [Exp 0411] > Gen Y > Gen Y
  • 2. New decade. New realities for each generation. > The Great Recession has changed everything. > Americans have a lower appetite for risk* > Social security benefits face growing uncertainties** > Medicare benefits face even greater challenges** > Health care reform is a game-changer > Demographics and longevity will reshape our landscape** [ Presented on behalf of MetLife ] > True Boomers > Generation Jones > Gen X > Gen Y
  • 3. Think about your life and times [ Presented on behalf of MetLife ] > True Boomers > Generation Jones > Gen X > Gen Y
  • 4. Generations, engagement and loyalty > Benefits drive retention, attraction and productivity* > One size does not fit all* > It’s not about spending more. It’s about spending differently* [ Presented on behalf of MetLife ] *Leopold, R. The Benefits Edge, MetLife 2009 > True Boomers > Generation Jones > Gen X > Gen Y
  • 5. True Boomers Generation Jones Generation X Generation Y Age 60 Age 50 Age 38 Age 24 Entered workforce Entered Workforce Entered Workforce Entered Workforce 1971 1981 1993 2007 Formative years Formative years Formative years Formative years 1962-1971 1972-1981 1984-1993 1998-2007 (1946-1955) (1956-1964) (1965-1980) (1981-1994) True Boomers Generation Jones Gen X Gen Y
  • 6. > Cuban Missile Crisis > The Draft > Vietnam War > The Pill > Kent State > Flower Power [ Presented on behalf of MetLife ] > November 22, 1963 > Hippies My Groove: 1962-1971 > Gemini 7 > Civil Rights > Apollo 11 > Woodstock > The Cold War > The Great Society (1946-1955) True Boomers True Boomers Generation Jones Gen X Gen Y
  • 7. > Midnight Cowboy > Ed Sullivan Show > Lava Lamps > Love Story > Love beads > The Graduate [ Presented on behalf of MetLife ] > Rolling Stones > LP Albums Formative years: 1962-1971 > Polaroid Cameras > Civil Rights > Transistor Radios > Motown > Color Television > Laugh-In (1946-1955) True Boomers True Boomers Generation Jones Gen X Gen Y
  • 8. > Formative Years: 1962-1971 Work and benefits, circa 1971 >Electric Typewriters >Fringe Benefits >Rotary Phones >Personnel Department >Steno Pool >Major Medical Coverage >Carbon Paper >Marcus Welby Era Of Medicine >Reproduction Department >OSHA >Uniform Pay Increases >Pay Stubs >Women In Skirts >Non-portable Pensions [ Presented on behalf of MetLife ] Work, circa 1971 (1946-1955) True Boomers True Boomers Generation Jones Gen X Gen Y
  • 9. > Formative Years: 1962-1971 Work Outlook > “Whatever it takes!” > Valued for experience & institutional knowledge** > Process-oriented and associate work ethic with hours at work** > Expects to stay in the workforce* > Don’t count on job flexibility* > Sometimes tentative with technology** [ Presented on behalf of MetLife ] Work Outlook *8th Annual MetLife Study of Employee Benefits Trends, MetLife, 2010 **Leopold, R. The Benefits Edge, MetLife 2009 (1946-1955) True Boomers True Boomers Generation Jones Gen X Gen Y
  • 10. > Formative Years: 1962-1971 Work Strategies > Hardest hit by great recession* > Have added 4 – 7 years to age of retirement** > Job accommodations > Off-ramping programs and assistance > Technology education and training > Tenure recognition programs [ Presented on behalf of MetLife ] Work Strategies (1946-1955) True Boomers True Boomers Generation Jones Gen X Gen Y
  • 11. > Formative Years: 1962-1971 Benefits Outlook > Most likely to say benefits are a reason to remain with employer* > Least likely to be willing to contribute to, or pay for benefits** > Least likely to say that benefits communications are effective** > Not always as comfortable with newer communication technologies*** > Not necessarily comfortable with work-life balance approaches* > Focused on containing-expenses* [ Presented on behalf of MetLife ] Benefits Outlook *Pew Research Center, 2009 **8th Annual MetLife Study of Employee Benefits Trends, MetLife, 2010 *** Leopold, R. The Benefits Edge, MetLife, 2009 (1946-1955) True Boomers True Boomers Generation Jones Gen X Gen Y
  • 12. > Formative Years: 1962-1971 Benefits Strategies > Leverage benefits to drive retention > Pay attention to messaging around cost-shifting. > Face-to-face or telephonic explanation of benefits. > Encourage work life innovations > Discount and group-purchasing opportunities > Printed benefits materials to the home [ Presented on behalf of MetLife ] Benefits Strategies (1946-1955) True Boomers True Boomers Generation Jones Gen X Gen Y
  • 13. > Formative Years: 1962-1971 Health Strategies > Prepare for a healthy active retirement > Affordable health coverage until Medicare > Affordable pharmaceuticals > Cancer screening > Disease management programs > Critical illness insurance > Chronic condition management > Vision and hearing coverage [ Presented on behalf of MetLife ] Health Strategies (1946-1955) True Boomers True Boomers Generation Jones Gen X Gen Y
  • 14. > Formative Years: 1962-1971 Wealth Strategies > Managing retirement disbursements with confidence* > A retirement plan to last a lifetime > Lowest appetite for risk** > Prefer face-to-face financial advise** > Include annuities in retirement options > Medicare supplements > Retirement health and drug benefits [ Presented on behalf of MetLife ] Wealth Strategies * 8th Annual MetLife Study of Employee Benefits Trends, 2010 ** Generational Advisor.com (1946-1955) True Boomers True Boomers Generation Jones Gen X Gen Y
  • 15. >Stagflation >Three Mile Island >The Bicentennial >Energy Crisis >Patty Hearst >ERA >Me Decade >Sky Lab >Nixon Resignation [ Presented on behalf of MetLife ] >War in Cambodia >Watergate >Affirmative Action >Detente Formative years: 1972-1981 >Iran Hostages (1956-1964) True Boomers Generation Jones Generation Jones Gen X Gen Y
  • 16. >The Brady Bunch >Star Wars >The Mod Squad >Mood Rings >UHF Television >Captain & Tennille >Peter Frampton >Bee Gees >Partridge Family [ Presented on behalf of MetLife ] >Jaws >8-Track Tapes >Boogie Down >Suede Vests My Vibe: 1972-1981 >Funk Music (1956-1964) True Boomers Generation Jones Generation Jones Gen X Gen Y
  • 17. > Formative Years: 1972-1981 Work and benefits, circa 1981 > Typewriter Cartridges >Dependent Coverage > Mail Department >Dawn Of Managed Care > Touchtone Phones >ERISA > Post-It Notes >Fee For Service > Calculators >DRGs > Women in the workforce >Stock Options > Rolodexes >ATMs [ Presented on behalf of MetLife ] Work, circa 1981 (1956-1964) True Boomers Generation Jones Generation Jones Gen X Gen Y
  • 18. > Formative Years: 1972-1981 Work Outlook > “We got a raw deal!” > Not counting on job flexibility* > Willing to work long hours** > Still hoping to climb the career ladder** > Solid work ethic** > As a group…want their share** [ Presented on behalf of MetLife ] Work Outlook *8th Annual MetLife Study of employee Benefits Trends, 2010 **www.JonathanPontell.com/ aboutgenjones (1956-1964) True Boomers Generation Jones Generation Jones Gen X Gen Y
  • 19. > Formative Years: 1972-1981 Work Solutions > Recognize Generation Jones > Career advancement opportunities > Job security > Introduction to new technologies > Charitable-matching > Group discounts [ Presented on behalf of MetLife ] Work Solutions (1956-1964) True Boomers Generation Jones Generation Jones Gen X Gen Y
  • 20. > Formative Years: 1972-1981 Benefits Outlook > Greater willingness to accept employee-paid benefits* > Lower rates of benefits satisfaction* > Greatest opportunity to drive loyalty with benefits* > Want both web and face-to-face communications** > Growing appetite for retirement security* > Employee benefits are a key to retention** [ Presented on behalf of MetLife ] *8th Annual MetLife Study Benefits Outlook of Employee Benefits Trends, MetLife, 2010 ** Leopold,R. The Benefits Edge, MetLife, 2009 (1956-1964) True Boomers Generation Jones Generation Jones Gen X Gen Y
  • 21. > Formative Years: 1972-1981 Benefits Strategies > Utilize multiple communications strategies > Executive options > Total compensation statements > Recognize potential for complex family units > Personal financial coaching and planning > Employer matching benefits [ Presented on behalf of MetLife ] Benefits Strategies (1956-1964) True Boomers Generation Jones Generation Jones Gen X Gen Y
  • 22. > Formative Years: 1972-1981 Health Strategies > EAP with robust mental health benefits > Incentives to participate in prevention and wellness programs > Substance abuse programs > Fitness and weight loss > Onsite medical services > Rich dental plans [ Presented on behalf of MetLife ] •AARP Study: Impact of Economy Health Strategies on Health Behaviors, Aug. 2009 **Clinical Preventive Taskforce, CDC ***Us Dept. of Health & Human services: SAMHSA, Aug 2009 (1956-1964) True Boomers Generation Jones Generation Jones Gen X Gen Y
  • 23. > Formative Years: 1972-1981 Wealth Strategies > “I was closer to retirement at age 40, than 50” * > Retirement planning fast-tracking** > Financial advice & guidance > College savings plans > Disability and life (supplemental and GVUL) buy-up options > Estate planning advice services > Long term care [ Presented on behalf of MetLife ] > Group annuities Wealth Strategies *Charles Schwab billboard **8th Annual MetLife study of Employee Benefits Trends, MetLife, 2010 (1956-1964) True Boomers Generation Jones Generation Jones Gen X Gen Y
  • 24. >Reagonomics >AIDS >Star Wars Defense >Desert Storm >Princess Diana >Iran-Contra >1987 Stock Market >Nelson Mandela >Downfall of Communism [ Presented on behalf of MetLife ] >Space Shuttle >Latchkey Kids >Rise of the PC >Fall of Berlin Wall Formative years: 1984-1993 >Challenger Disaster (1956-1964) (1965-1980) True Boomers Generation Jones GenGen X X Gen Y
  • 25. >Atari >Break Dancing >Cheers >Miami Vice >MTV >Sony Walkman >Diet Coke >Home Alone >Ghostbusters [ Presented on behalf of MetLife ] >VCRs >Duran Duran >Just Say No >Billy Idol My Signal: 1984-1993 >Max Headroom (1956-1964) (1965-1980) True Boomers Generation Jones GenGen X X Gen Y
  • 26. > Formative Years: 1984-1992 Work and benefits, circa 1993 >Dot-Matrix Printers >401-Ks >Beepers >Work Life Balance >Monster Cell Phones >Diversity Sensitivity >PC Computers >Co-Pays >Multi-Job Careers >Americans With Disabilities Act >Cubicles >HMOs and PPOs >Floppy Disks >Cafeteria Plans [ Presented on behalf of MetLife ] Work, circa 1993 (1965-1980) True Boomers Generation Jones X GenGen X Gen Y
  • 27. > Formative Years: 1984-1992 Work Outlook > “Just tell me what’s going to be on the test.” > Work to live* > Results are more important than process* > Technology junkies* > Work independently* > Company culture important to loyalty** > Concerned about career advancement* [ Presented on behalf of MetLife ] Work Outlook *Kovary G. & Buahere A.:The Road to Performance Success, 2003 **8th Annual MetLife Study of Employee Benefits Trends, MetLife, 2010 (1965-1980) True Boomers Generation Jones X GenGen X Gen Y
  • 28. > Formative Years: 1984-1992 Work Strategies > Work life balance programs are paramount > Telecommuting and flexible hours > Virtual workplace > Child care arrangements > Informal communication style > Career fast-tracking programs > Pay for performance [ Presented on behalf of MetLife ] Work Strategies (1965-1980) True Boomers Generation Jones GenGen X X Gen Y
  • 29. > Formative Years: 1984-1992 Benefits Outlook > Most satisfied with employee benefits* > Most engaged in benefits offerings and innovations* > Most apt to utilize work-life balance programs* > Most apt to have beneficiary coverage changes > Often under-insured** > Want to better understand the value of benefits* [ Presented on behalf of MetLife ] Benefits Outlook *8th Annual MetLife Study of Employee Benefits Trends, MetLife, 2010 **Three Steps to Closing the Underinsured Gap: MetLife, 2010 (1965-1980) True Boomers Generation Jones X GenGen X Gen Y
  • 30. > Formative Years: 1984-1992 Benefits Strategies > Online management of benefits (evergreen) > Protection education and tools > Voluntary benefits: – Life and disability buy ups and options – Auto and home insurance – Legal benefits and estate planning – Pet insurance [ Presented on behalf of MetLife ] Benefits Strategies (1965-1980) True Boomers Generation Jones GenGen X X Gen Y
  • 31. > Formative Years: 1984-1992 Health Strategies > Full dependent coverage > Onsite weight loss and fitness programs. > Maternity benefits with flexibility > Innovative EAP programs > Dental plan with family options > Special needs programs > Wellness & fitness programs [ Presented on behalf of MetLife ] Health Strategies (1965-1980) True Boomers Generation Jones GenGen X X Gen Y
  • 32. > Formative Years: 1984-1992 Wealth Strategies > Guidance on the right amount of coverage > Disability coverage and buy-up options > Life insurance flexibility (Term & Supplemental) > Retirement advice and planning programs > College savings plan > Roth IRA [ Presented on behalf of MetLife ] Wealth Strategies (1965-1980) True Boomers Generation Jones GenGen X X Gen Y
  • 33. >Dot Com Boom >Iraq War >Dot Com Bust >War on Terror >Hurricane Katrina >Social Media >Y2K >Cultural Diversity >Stock Market Rally [ Presented on behalf of MetLife ] >The Web >Gay Marriage >Reality Television >Anthrax Formative years: 1998-2007 >Columbine (1981-1994) True Boomers Generation Jones Gen X GenGen Y Y
  • 34. >The Simpsons >PlayStation >Red Bull >Titanic >Justin Timberlake >Snapple >MySpace >ITunes >Eminem [ Presented on behalf of MetLife ] >Black-Eyed Peas >Friends >X-Files >Survivor My Link: 1998-2007 >X-Box (1981-1994) True Boomers Generation Jones Gen X GenGen Y Y
  • 35. > Formative Years: 1998-2007 Work and benefits, circa 2007 >Virtual Office >Total Rewards >Outsourcing >Double Digit HC Inflation >Cell Phones >Consumer Driven Plans >24/7 >Wellness >Downsizing >HIPPA >Blackberries >Voluntary Benefits [ Presented on behalf of MetLife ] Work, circa 2007 (1981-1994) True Boomers Generation Jones Gen X GenGen Y Y
  • 36. > Formative Years: 1998-2007 Work Outlook > “No worries.” > Accustomed to being the center of attention* > More trusting of leadership* > Keen on winning* > So beyond email !* > Work in swarms, leave at 5pm* > Eager to learn* [ Presented on behalf of MetLife ] Work Outlook *Smith S., Talent Market Series, Deloitte & Touche, 2007 (1981-1994) True Boomers Generation Jones Gen X GenGen Y Y
  • 37. > Formative Years: 1998-2007 Work Strategies > Instant messaging, texting, social media > Recognition and acknowledgement programs > Mentoring programs > Work group flexibility > Work-life flexibility > Virtual work [ Presented on behalf of MetLife ] Work Strategies (1981-1994) True Boomers Generation Jones Gen X GenGen Y Y
  • 38. > Formative Years: 1998-2007 Benefits Outlook > Getting smarter about benefits, faster * > More reliant on parental advice * > Value benefits that reflect the diverse needs of the workforce * > Most comfortable with web-based delivery * > Benefits are not a reason to stay with a company** > Value lifestyle benefits ** [ Presented on behalf of MetLife ] Benefits Outlook *Leopold R. The Benefits Edge, MetLife, 2009 **8th Annual MetLife Study of Employee Benefits Trends, MetLife, 2010 (1981-1994) True Boomers Generation Jones Gen X GenGen Y Y
  • 39. > Formative Years: 1998-2007 Benefits Strategies > Push the envelope on web-based benefits delivery > Incorporate social media strategies > Benefits orientation sessions- parents invited > Volunteering and charitable contribution matching > Legal benefits > Maximize choice and options [ Presented on behalf of MetLife ] Benefits Strategies (1981-1994) True Boomers Generation Jones Gen X GenGen Y Y
  • 40. > Formative Years: 1998-2007 Health Strategies > Intrigued by use of technology in health and wellness* > Less likely to have a personal physician* > Highest rates of accidents (MVA, home, sports)** > Access to on-site or off-side walk-in clinics > Fitness club memberships > Dental coverage > Nutritious options in vending machines & cafeteria [ Presented on behalf of MetLife ] > Online pharmacy Health Strategies *Generation Y:2008 Survey of Health Care Consumers, Deloitte & Touche **www.valueoptions.com/generation Y (1981-1994) True Boomers Generation Jones Gen X GenGen Y Y
  • 41. > Formative Years: 1998-2007 Wealth Strategies > Affordable auto & renters insurance > Auto-enrollment in 401(k) plans > Savings plans and banking services* > Basic Term Life insurance with buy-up options > Disability coverage with buy-op options > Money management education programs > Financial planning forecasting tools [ Presented on behalf of MetLife ] Wealth Strategies (1981-1994) True Boomers Generation Jones Gen X GenGen Y Y
  • 42. Generational Benefits Strategies > Broaden your benefits portfolio > Introduce flexibility to your offerings > Not every benefit will appeal to everyone > Focus on the value propositions for each generation > Utilize multiple communications platforms > Focus on building loyalty and engagement [ Presented on behalf of MetLife ] > True Boomers > Generation Jones > Gen X > Gen Y
  • 43. Potential Next steps > Think about the generational make up of your workforce > Does your current benefits program satisfy the different needs of each generation? > Consider how you might recalibrate your benefits offerings based on today’s insights? > Remember - Generational differences will only get more important with time! [ Presented on behalf of MetLife ] > True Boomers > Generation Jones > Gen X > Gen Y