For the first time in history, there are four generations in the workplace at the same time. And while you may be familiar with their different names – Traditionalists, Baby Boomers Generation X and Millennials – you may not understand just how different they really are or how the workforce is evolving in response to the preferences of the younger demographic.
Millennials are now the most dominant generation in the workforce. They are less motivated by remuneration and more by personal freedoms such as a flexible work environment or flexible schedule.
When seeking rewards outside of wages, having a solid benefits program is crucial to securing key talent. Organizations that use benefits as a strategic employment tool reported better overall company performance and above-average effectiveness in recruitment and retention compared with organizations that did not.
However, a “one size fits all” approach no longer appeals to younger workers who are expecting customization and personalization of benefits assembled according to their own tastes and needs.
The customization concept also appeals to Generation Z, which will account for one-third of the U.S. population by 2020. Generation Z expects businesses, brands and employers to be responsive to them. If they don’t feel appreciated, they move on.
Join Martie Summerford, Director of Broker Marketing and Alliances for Colonial Life, as she discusses the evolving workforce and how moving non-core benefits to voluntary benefits is one way to provide more affordable coverage options while giving employees customized choices that align with their needs.
As Director of Broker Marketing and Alliances at Colonial Life, Martie Summerford leads a team of National Broker Partner Managers responsible for over $95 million in annual sales and $200 million in in-force premium. She and her team also support the growth and enrichment of Colonial Life's Preferred Broker Program, a broker loyalty program whose members produce over $20 million in annual sales.
Martie has extensive experience through her various field support roles in her 27-year career with Colonial Life, including premier client consultant and manager, public sector manager, programs manager, and enrollment technology director. She earned a Bachelor of Science in Economics and Business Administration from Presbyterian College in Clinton, South Carolina.