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Gen Y requires different benefits strategies

Employers who hope to attract, engage and retain Generation Y workers must understand their preferences and communication styles, particularly regarding workplace benefits, according to new findings by Colonial Life & Accident Insurance Company.

By Amanda McGrory-Dixon | Updated on September 07, 2011

Employers who hope to attract, engage and retain Generation Y workers must understand their preferences and communication styles, particularly regarding workplace benefits, according to new findings by Colonial Life & Accident Insurance Company.

“The ability to recruit and retain younger workers is quickly becoming essential for employers to ensure long-term business success, especially as baby boomers begin to retire in increasing numbers,” says Stephen Bygott, director of marketing programs and research at Colonial Life. “But Gen Y has different needs, expectations and preferences than previous generations, so companies need to take a different approach when it comes to designing and communicating their benefits packages. Those who don’t consider changes could risk losing their competitive edge and may be left behind.”

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