Dealing with Common Benefit Challenges!

UTION CAUTION CAUTION CAUTION CAUTION CA CHALLENGES FACING BENEFITS INDUSTRY! CAUTION CAUTION CAL UTION CAUTION CAUTION 1 The "Generational" Divide CHALLENGE Most IT people are in the 24-35 age bracket "Millennial's " Most buyers are in the 38-49 age bracket "Generation X" Most Brokers are in the 50-59 age bracket "Baby Boomers" Different set of VALUES AND BASE COMMUNICATION is the biggest challenge! More confusion with different understanding THOUGHT PROCESS AND COMMUNICATION STYLES Different opinion on WHAT, WHY AND HOW of benefits The "Extreme" Regulation CHALLENGE Interpretation of regulation and change driven by ACA differs state by state Acceptance and Compliance is still a question Many brokers fail to give updates on legislative changes to the clients that fuels confusion What Brokers Need to Do? Brokers should become benefit advisors to clients A Provide a "Service Model" "KNOW BEFORE YOU GO" Solution (software + consultancy) What Employers Need to Do? Align employee benefits needs with the benefit Communicate, Communicate & Communicate programs Embrace technology to make benefits more employee engaging Make benefits more flexible as per multi-generational workforce needs in TEEMWURK f fb.com/TeemWurk @TeemWurk linkedin.com/company/teemwurk Benefit Administrator at your desk