Millennials have changed the workplace in many ways. Companies looking to attract the best young employees switched to open floor plans, offered more amenities and became more flexible about working remotely and unusual shift schedules. One thing employers may not have considered, however, is what millennials are looking for in workers' compensation insurance.
Here’s how you can make your organization more appealing to young employees who are concerned about what will happen if they are injured on the job.
Communicate with employees
Millennials in the workplace are less likely than older workers to feel they have a strong understanding of insurance policies, according to a survey conducted by MetLife. On the other hand, they are more apt to expect help in getting their affairs in order, with 75 percent saying employers have a responsibility for workers’ financial well-being. That means it’s a good idea for leaders of an organization to reach out and provide more information about workers’ compensation through training sessions and individual counseling.
Make it fast and convenient
Younger employees appreciate speed and simplicity when completing work, communicating and seeking out services. As a result, a little convenience will go a long way if they need to find medical care within their PPO network or file claims for workers’ compensation. A network solution tailored to the demands of your organization can reassure new talent they’ll be able to get the high-quality care they need in the case of an accident.
Handle transactions electronically
The Insurance Information Institute noted that millennials prefer to complete insurance transactions through online or mobile channels. An online system for filing claims can make things easier on workers and payers alike. Employers can find savings and provide better outcomes by choosing technology solutions that suit the preferences of new employees while also cutting administrative time and costs.
So, at the end of the day, when trying to please their millennial workforces, organizations should ensure they communicate effectively, provide timely and convenient service and offer digital methods for filing insurance claims.