Dilemma for Benefits Communications

Central Virginia Employee Benefits CouncilMarch 5, 2008

A Looming Disconnect

• Increasingly complex benefit responsibility for employees

• Wider use of “new media”

Choosing Benefits

Example

• 25 year old single female new hire• Full time• $36,000 salary

Complex Decisions

• Which medical plan? $$ now and later?

• FSA/HSA/HRA?

• Do I save a % of my pay? How much is that?

• What investment funds to select?

• Can I buy more vacation?

• Do I have the right life insurance?

• Do I have to have disability benefits?

• Am I ever going to have fun again?

Difficult Financial Concepts

• Net pay• Cash flow• Pre tax• Investment funds• Tax bracket• Eligible claims• Year end carryover• Deductible• Reasonable & customary fees

Where Do They Get Their Information?

Information in Age of Aquarius

• Boomers (over 45)– Meetings

– Handouts

– Booklets

– Local community contacts

– Internet

– Videos

– Peers

Information in New Media

• Gen X and Millennial (under 45)– Peers– Cell phones– Text messages– Online communities– Blogs – E-mails– Internet– Podcasts– Print– Video– Meetings

New Media

• Technology based

• Mobile

• Interactive

• User-generated

• Wireless

• Peer to Peer

• Instant Speed

New Media

• Blogs

• Podcasts• Sound

• Video

• Text Messaging Networks

• Online Communities

• Craigs list

• Vault

• ITunes– NPR rebroadcast

• YouTube

• Otair

• Omnilert

• Wesabe

New Media

• www.wesabe.com• www.mint.com• www.cleverdude.com• www.choate.com• www.abcnews.go.com• www.richmond.craigslist.org• www.youtube.com

Blocking & Tackling

• Who’s your audience?• What’s your message?• What behavior needs to occur?• What does the audience pay attention

to?• Or getting to “open”• What media is available?• Timing?• Budget?

25 Year Old New Hire???

• Millennial• Generation X

Questions?

Dilemma for Benefits Communications

Jackie P. Jackson804-864-1925jpjackson@jackconsultingllc.comwww.jackconsultingllc.com