Analyzing different buying groups and customizing marketing to appeal to various employee groups leads to workers who are happier and more engaged with their benefits program. Personalization goes beyond the traditional generation descriptions of baby boomers, Generation X and millennials. It involves using employee profiling based on specific lifestyle and buying preferences.
“We can’t overgeneralize the generations today. There’s more to customizing benefits than age alone,” said Purchasing Power’s COO Elizabeth Halkos in Brian Kalish’s April 6 Employee Benefit Adviser article. “Within the generations there are varying lifestyles and buying preferences that dictate what benefits are important to them,” she added, pointing out that this is especially key for non-traditional voluntary benefit that offer the ultimate customization approach to the workforce.
Taking a more personalized, segmented approach conveys the value of a program and yields a greater enrollment rate. Halkos added that segmenting the generations leads to a benefits structure that attracts, retains and engages the talent that employers need for the future.
“Employers and advisers should lean on their partners to do the work for them and customize the marketing. That’s why we are here,” Halkos concluded, “we have the data.”