A generation with income to protect
Generational differences exist in most of today’s workplaces. With at least three generations working side-by-side – baby boomers, Generation Xers and millennials – meeting diverse employee benefit needs can be a challenge for employers.
Conversations about how to reach millennials – and even baby boomers as they retire and exit the workforce – are common, but information about connecting with Generation X is harder to come by.
Until 2015, Gen Xers made up the largest share of employees in the country’s workforce.1 While their numbers are now lower than millennials, their benefit needs persist … and those needs are unique.1 They’ve been in the workforce for decades, which means most have accumulated assets and are building a legacy they need to protect now for future generations.
Today’s Gen Xers have plenty of financial commitments on their plates. They’re parents and partners, homeowners and business owners. Many have a growing responsibility for their own aging parents. And without a way to protect their income, a disability could a cause devastating blow to their financial present and future.
A Generation with Income to Protect – a Benefits Quarterly article by Amy Friedrich, senior vice president, Specialty Benefits Division, Principal® – describes how offering income protection to Generation Xers not only helps them deal with today’s expenses and prepare for the future, but also can help employers meet business objectives such as attracting and retaining top talent.
Download the full article to learn more about the unique benefit needs of Gen Xers and how to meet them.
Ready to talk about how to meet generational benefit needs? Contact your financial professional or Principal representative today.
1 “Millennials surpass Gen Xers as the largest generation in U.S. labor force”; Richard Fry; Pew Research Center; May 11, 2015; www.pewresearch.org/fact-tank/2015/05/11/millennials-surpass-gen-xers-as-the-largest-generation-in-u-s-labor-force/; reviewed 10/9/2015.