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Employees spend more time on social media than making benefits decisions

8 in 10 Gen Z benefits-eligible employees spend 30 minutes or fewer reviewing information during open enrollment.

By Alan Goforth | October 30, 2023 at 12:24 PM
The average American spends far more time on social media each day than reviewing benefits information during open enrollment. Nearly 7 in 10 benefits-eligible employees spend just 30 minutes or fewer reviewing their options, while 42% spend 20 minutes or fewer, according to a new Voya Financial survey.

“While social media has many advantages for staying connected to family, friends and other interests, it’s important to remember that one’s workplace benefits also deserve their fair share of attention,” said Nate Black, vice president, health product development, for the company. “And with just a once-a-year opportunity to evaluate what you’re spending and using on benefits, it’s even more important to give open enrollment the time and attention it deserves.”

This is especially true for Gen Z, 8 in 10 Gen Z benefits-eligible employees spend 30 minutes or fewer reviewing information during open enrollment, a notably higher number than millennials (68%), Gen X (65%) and baby boomers (63%).

“Based on what might be included in their benefits package, employees may have to make decisions on a variety of insurance and benefit solutions during their annual enrollment,” Black said. “This can understandably make for an overwhelming experience, particularly for those less familiar with the enrollment experience or those who have not yet had to review all of their options.”

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