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Job mobility among younger workers requires different benefits model

An expert believes the current, and somewhat outdated, model of insurance offered by employers today will need to change in light of increasing job mobility of Gen X and Gen Y employees.

By Amy Wolff Sorter | Updated on April 01, 2011

PITTSFIELD, MA-A first-time survey conducted by Guardian Life Insurance Company of America shows Generation X (ages 30-45) and Generation Y (ages 18-29) employees foresee a lifetime of job mobility and career changes, compared to their baby-boomer parents. The survey’s results suggest that employee-offered insurance products need to change with the times, or risk being labeled as hopelessly outdated.

“With this amount of change, we have no choice but to understand that our products need to fit the changing expectations of the market,” commented Larry Hazzard, vice president of product strategy with Guardian Life Insurance, Berkshire Life Insurance Co., a subsidiary of New York City-headquartered Guardian Life Insurance of America .

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