Benefits Canada article on Generation Y’s group benefits needs

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The latest issue of Benefits Canada magazine contains a thought-provoking article on Generation Y and group benefits: Written by Dave Jones, vice-president, market development, group benefits, The Evolution is Now: Group Benefits and Generation Y, is the latest piece in our efforts to provide clients with useful insight into the Gen Y mindset. The article summarizes the key ways that plan sponsors can shape their group benefits plans to appeal to Gen Y employees and maintain a competitive advantage. The article appears in the ‘Trends’ section of the September issue of Benefits Canada - a feature that provides a quick snapshot on a current trending topic.

Sun Life engaged in Gen Y research because of the call from plan sponsors to help you understand the changing needs of Generation Y. We started this research by working with Ipsos Reid to conduct focus group testing with all four generations currently in the workplace. This research gave us insight into how each generation assigned different value to their benefits, and helped us to focus in on how Gen Y employees perceive benefits. These insights formed the basis of our Gen Y Bright Paper, Harness the potential of Generation Y: Their growing influence and unique group benefit needs.

 Sun Life is at the forefront in harnessing Gen Y not only through our research, but through our product innovation and use of technology in appealing to this generation:

  • e-claims
  • Mobile applications
  • Health and wellness initiatives
  • Social media use such as Facebook and Twitter (recruitment)
  • Flexible benefit plans that include health spending accounts (HSA) and personal spending accounts (PSA)
  • Future research into digital communication and e-learning

Read the article in the September print edition of Benefits Canada magazine, or check out the electronic version that you can share with colleagues.

Questions?

Please contact your Sun Life Financial group benefits representative.