Hartford Business Journal

8 Hartford Business Journal • November 6, 2017 • www.HartfordBusiness.com FOCUS: Employee Benefits By Matthew Broderick Special to the Hartford Business Journal E arlier this year, Bloomfield health insurance giant Cigna unveiled a new policy that allows employees to take up to four weeks of paid leave for needs such as caring for a new- born or an ill family member. The company also recently imple- mented its community ambassadors fellowship program, which provides eli- gible employees an opportunity to take a sabbatical-style paid leave to work on community projects that advance Cigna's mission. "Creating this sense of ownership and community to an entire employee base is rare among large, publicly traded companies," said Greg Hicks, vice presi - dent of human resources for Cigna's U.S. commercial and global healthcare operations. "Typically, [these benefits] only happen among Silicon Valley-style startups." While not all employers offer such cutting-edge perks, the spectrum of benefits available to employees across corporate America, and at some small- to medium-size employers, has largely expanded in the 21st century. And increasingly a key motivation behind the newest benefits is appealing to Mil - lennials. With waves of Baby Boomers head- ing toward retirement, employers are seeking to attract and retain the 75 million-member Millennial generation, born between roughly 1982 and 2002, as their future workforce — and the benefits landscape is being rewritten in the process. Companies are trying to entice those younger workers, who are making up an increasingly larger percentage of the workforce, with flexible schedules, casual dress codes, portable health sav - ings accounts and tuition reimburse- ment, among other perks. "Twenty years ago, no one offered more than one plan," said John Lyon, president of employee benefits prac - tice leader at USI Insurance Services. "Today, it's typical to see two or three dental plans, health plans, and vision plans with a wide range of coverages." As the number of benefit options has expanded, so too has Millenni - als' demands for technology-based opportunities to explore what's available. For a generation that does much of its shopping online through retailers like Amazon, Lyon said, young professionals today are looking for a similar shopping experience when comparing and pricing their benefits. Cigna's Hicks said his company, for instance, offers employees Cigna One Guide. "It uses anticipatory computing principles to anticipate users' needs and preferences and gives personalized solutions that can improve employees' health and save them money," he said. And it's not just in purchasing ben - efits that Millennials are demanding technology; it's also in how they use their benefits, through online options like telemedicine. "One of the main things Millennials are looking for from their employer is flexibility and convenience," said Re - becca Plavcan, a senior account man- ager with Farmington-based OneDigital Health and Benefits. Telemedicine, which has become a common offering among healthcare providers, not only reduces the cost of care, but appeals greatly to a Mil - lennial generation accustomed to interacting with friends and family through Skype or FaceTime. "Telemedicine allows users to interact with their medical provider and have their conditions diag - nosed and treated and never have to leave their house," Plavcan said. "And for Millennials looking for flexible work schedules and remote working, [tele- medicine] enables them to get their care from wherever they are." That level of convenience is also find- ing its way into corporate offices, too, with many larger companies adding on- site health clinics to provide employees access to no-cost, convenient health care. That's a big plus for Millennials. According to 2017 survey data from Ipsos and Aminos, a market research company, 27 percent of Millennials said they will put off a doctor's visit to avoid high costs; 50 percent said they have received a medical bill for which they didn't budget. While a majority (60 percent) of Mil - lennials view health insurance as their most important benefit, according to research from the Employer Benefits Research Institutes (EBRI), they are also more likely — by a 2 to 1 margin, EBRI data found — to value time off more than their Baby Boomer colleagues. "Increased leave policies, flex time and the opportunity to purchase ad - ditional paid time off are benefits that work well with Millennials," said USI's Lyon. Company programs that connect younger workers with mentors are also on the rise. At Berlin-based Eversource, the company's new hires business resource group and ambassadors program helps employees make connections and navigate the organization, a real plus for Millennial employees who typically have less workforce — and network - ing — experience on their resumes, said Christine Carmody, Eversource's vice president of human resources and information technology. "These programs help support the retention of new employees," Carmody said. "Insightful companies are realizing the importance of supporting and lever - aging programs like these for everything from recruiting to retention." Benefits 2.0 Millennial demands driving next generation of employee benefits Younger workers, like the OneDigital employee shown above, yearn for benefits like flexible schedules. They also want to access benefits digitally. Cigna offers workers digital access to beneifts. PHOTO | CONTRIBUTED "One of the main things Millennials are looking for from their employer is flexibility and convenience." Rebecca Plavcan, Senior Account Manager, OneDigital Health and Benefits Millennials want their employers active on social causes A recent Deloitte survey of 8,000 Millennials from 30 countries found that a vast majority (82 percent) have employers that are directly involved in issues of personal concern, or are supporting charities and other social initiatives in the community. That's important, the survey found, because businesses that engage in issues of concern to Millennials are more likely to gain their trust and loyalty. The most popular issues employers are supporting include: 1 Education, skills, and training 2 Unemployment 3 Health care/disease prevention 4 Community cohesion/social involvement 5 Climate change/protecting the envi ronment/natural disasters 6 Food supplies/hunger/famine Source: The 2017 Deloitte Millennial Survey.

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