"No, my company doesn't offer anything that is specific for younger employees or certain age groups. The only thing that could fall under that category is a new program called "Personal Health Advocate" that is supposed to offer you time-and money-saving solutions tailored to your specific situation. We just received an e-mail about it yesterday."
A.M.S., Denver
"Since Gen Y workers obtain the majority of their financial products at the workplace, employers have a tremendous opportunity to develop a benefits program that can help retain this mobile demographic."
Todd Katz, MetLife
"We try to offer the best benefits options in a general sense, and let each employee chose the ones that meet most of their needs. Our company supplies paid-for life insurance and short term disability at no cost to the employee, but after that all the benefits are optional."
Patti R., Miami
"Our H. R. department is already drowning in paperwork. Adding additional plans to manage would be extremely time-consuming. Wouldn't a program like that show large differences in premiums? Especially the ones that target older participants?"
K. T., Boulder, Colo.
Hardest hit? Generation Y employees may have been hardest hit by the daily financial pressures exerted by the economic downturn of recent months.
- 53% say they are now living paycheck to paycheck
- 73% are very concerned about having enough money to make ends meet
- 46% have disability income insurance
- 33% hve no life insurance
- 49% are married
- 46% have children
"Our company is very small and I try to provide the best benefits I can afford to the group as a whole. Maybe if we employed over 500 or maybe a thousand people, I could afford to cater to specific groups within the company. Until that happens, I will be providing one-size-fits-all solutions."
Ricardo B., Houston
35% of surveyed Gen Y employees say they are very satisfied with the benefits they receive through their employer
