Human Resource professionals at American companies are tasked with a multitude of responsibilities. However, recruiting and retaining human talent remains the primary objective. More than ever, today’s workforce is more diverse and the perception of an occupational value proposition mirrors that diversity. So how does an HR professional appeal to a Millennial and a Baby Boomer with the same benefits plan?
The younger generation of workers tend to place value in workplace perks such as recreation activities (ping-pong tables, coffee and cereal bars) and flexible schedules, while older workers are more interested in financial counseling.
For many companies and HR professionals, finding the right mix of benefits to appeal to a multi-cultural, multi-generational workforce can be an overwhelming challenge. According to an article published in Benefits Pro, common ground is being struck in the area of “wellness programs”. Not a new concept, but the definition of wellness is starting to evolve into a holistic approach that straddles multi-generational lines.
Wellness now includes not only healthcare for physical maladies, financial stability and safety. It includes more planning, education and an emphasis on attaining personal goals. A long-time acquaintance who is an HR professional shared an experience she had with providing workers with healthy recipes for nutritional wellness. Employees did not know it existed until she brought in a nutritionist once a month to give cooking lessons on preparing healthy diets. The results were amazing and had the unexpected consequence of being a powerful team-building exercise as well.
Similarly, a plan sponsor who can provide a meaningful education on retirement wellness will likely find similar results. Advisors who provide education and general guidance could be a good place to start.
See related video Getting to Know Plan Participants, Advisors Can Add Value
