32% of Gen Z are unsure about what it even is
The multi-generational workforce has different views about open enrolment, Jellyvision reports in an article by BenefitsPRO.com. Jellyvision, a benefits guidance software, surveyed over 900 employees about their experiences with open enrolment.
The report found that 32% of Gen Z employees were unsure about what it is. They are also not fully confident when it comes to understanding their benefits in comparison to the older generations in the workplace. Meanwhile, half of the employees that were already 51 or older admitted to knowing very little about how they can enroll or choose a Medicare plan.
When asked about their preferences when it comes to how they will receive information about their benefits, the most popular option among the respondents was an interactive tool. This was followed by emails, one-on-one conversations with HR, and conversations with coworkers. The only generation that preferred a pamphlet or brochure were baby boomers.
35% of the respondents said that they only want to learn about benefits that would be appropriate for them and would rather not hear about those that are not necessarily relevant for them.
67% of the respondents wanted to learn about their benefits in the comforts of their home. This is likely because of how they make decisions regarding their benefits with their spouse, parents, or any other dependents. Notably, 84% of Gen Z employees said that they often consult with their family when it comes to making such decisions.
Open enrollment refers to the only time in the year where people can sign up for insurance or make certain changes to their coverage, as defined by Forbes Advisor.
Jellyvision’s vice president of channel sales, Keith Vallera, gave three ways to ensure that experiences of employees with open enrollment are much more inclusive which would conveniently provide them with what they need in a manner they prefer:
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Personalize communications depending on the demographic of the employee and make recommendations specific to each individual worker
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Consider dependents of employees and make open enrollment materials available for those outside of the organization
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Consider providing better guidance to aging employees and add helpful resources to benefits materials
“Everyone is different and comes to the table with different health concerns, financial situations, and family makeups,” said Vallera. “So as our approach to open enrollment continues to evolve, it’ll be all about providing each generation with the resources that are most relevant to them, on the platforms they prefer most.”
