Gen Y wants to get personal — at least when it comes to their benefits. Although employees rely on the workplace as their number one source of benefits information, new research shows Gen Y is much more likely than other workers to rely on family members and friends for this information.
That's just one of the findings from an online nationwide survey commissioned by Colonial Life. The survey generated responses from more than 1,100 full-time or part-time adult employees on their benefits needs and preferences.
"While we expected the workplace to be the primary source of benefits information for employees, we were surprised to learn that Gen Y workers rely more on family and friends for this information than their older colleagues do," says Stephen Bygott, assistant vice president, marketing analysis and programs for Colonial Life.
The survey reveals several benefits-related traits about Gen Y:
* They are less likely to rely on the workplace for information than all other age groups (51% vs. 69% of those ages 34 to 44, 51% vs. 75% of those ages 45 to 54, and 51% vs. 71% of those ages 55+.)
* They are significantly more likely to rely on family and friends than other insured workers do (40% vs. 29% of those ages 35 to 44, 40% vs. 16% of those ages 45 to 54, and 40% vs. 12% of those ages 55+.)
* They are less likely to rely on online resources (50%) than insured workers ages 45 to 54 (63%).
"Despite their reputation for being constantly wired, Gen Y is less likely to rely on insurance company and consumer advice websites than any other age group of workers," says Bygott. "And they're no more likely to rely on online forums or blogs than anyone else. 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."
