Aflac Report.pdf

1. Millennials in the workforce: Represent 53.5 million of the US labor force, value life experiences over material possessions, and are likely to look for new jobs (66%).
2. Benefits packages: Important for recruitment and retention, with 72% of millennials willing to take a job with lower pay but better benefits.
3. Work-life balance: Employees expect flexibility, with 46% wanting a flexible schedule and 27% wanting to work from home.
4. Enrollment technologies: Employees prefer online benefits enrollment, with 50% wanting an experience like Amazon.com.
5. Wellness technologies: Can help reduce employee health costs, with 54% of employers offering wellness programs and 61% of employees making healthier lifestyle choices.
6. Outsourcing benefits administration: 68% of employers are interested in outsourcing benefits administration, with brokers and consultants helping to reduce turnover and increase productivity.
7. Voluntary insurance: In high demand, with 79% of employees seeing a growing need for voluntary insurance.
8. Benefits education: Important for employees, especially millennials, with many expressing negative experiences with high-deductible health plans (HDHPs) and needing education on how they work.

Statistics:

53.5 million: Millennials in the US labor force
66%: Millennials likely to look for a new job in the next 12 months
72%: Millennials willing to take a job with lower pay but better benefits
46%: Employees expecting a flexible work schedule
27%: Employees expecting to work from home
50%: Employees wanting an online benefits enrollment experience like Amazon.com
54%: Employers offering wellness programs
61%: Employees making healthier lifestyle choices due to wellness programs
68%: Employers interested in outsourcing benefits administration
79%: Employees seeing a growing need for voluntary insurance
63%: Millennials regretting their choice of HDHP
43%: Millennials saying their HDHP was financially detrimental
* 67%: Millennials not understanding how an HDHP works