Voluntary Benefits for the Multi-generational Workforce

T H E M U L T I - G E N E R A T I O N A L WO R K F O R C E

S O C I E T A L T R E N D S & V O L U N T A R Y B E N E F I T S

H OW T O L A U N C H A V O L U N T A R Y B E N E F I T S P R O G R A M

T H E R O L E O F T H E V O L U N T A R Y B E N E F I T S C O N S U L T A N T

While interest in Voluntary products is rising, and employers are designing benefit portfolios to include them, their value is essentially wasted if new product offerings aren’t effectively communicated to the workforce. A recent study by MetLife found that a third of employees are not actively engaged in their annual benefit plan enrollment, even when employers are communicating with them. To encourage employee engagement in benefits, especially if a program is incorporating Voluntary products, employers need a plan. 8 steps to a successful voluntary benefits program

8 STEPS TO A SUCCESSFUL VOLUNTARY BENEFITS PROGRAM

STEP 01 Survey your employees to identify insurance preferences.

STEP 03 Define goals and objectives; secure management’s buy-in.

STEP 02 Conduct a gap analysis to on current benefit offerings vs. competitors.

STEP 08 Complete your post-enrollment follow-up.

68%

1 in 4

STEP 04 Choose carriers; set the strategy and calendarize every step.

STEP 06 Offer channel-of-choice enrollment options.

increase in multi-million-dollar medical cases over the past four years.

adults in the U.S. have two or more chronic illnesses.

STEP 05 Conduct group and individual educational meetings.

STEP 07 Simplify your messaging and repeat it often.

- Sun Life, “Catastrophic Claims Report”

- Centers for Disease Control and Prevention

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