Over the past several years, the share of younger workers in the workforce has been on the rise. In fact, the Millennial generation recently became the largest share of the workforce in the US.

Millennials were significantly impacted and molded by the 2008 financial crisis when many of the generation were coming of age. This and increasing healthcare costs created challenges for Millennials. In fact, Millennials have the highest percentage of uninsured individuals out of all generations. These factors combined with Millennial’s desire for a more wholistic health benefits approach will require adjustments to “business as usual”.  Not only will benefits plans likely need adjustments, but HR teams and benefits agents may need to update the way they engage with eligible employees.

While this group may be difficult to reach during this uncertain time, it is still possible and valuable to to appeal to their needs and help them connect with valuable benefits. The key is to ensure you have built your brand in a manner that positions you as a trustworthy and transparent professional who can help them achieve their goals.

Put a New Spin on Market Research

It can be difficult to understand, adapt, and keep up with trends among the Millennial generation as an outsider. Therefore, consider networking within your community to find a Millennial professional to build a mutually beneficial relationship with. This can not only help the young professional build their own brand but also help guide you through changes in the latest trends in the Millennial generation.

Build Your Social Media Channels

For the Millennial generation, social media is part of their everyday life and not simply a tool to share photos and connect with friends. In fact, most of the Millennial generation get their news from social media. They also use the platform to engage in discussion and keep up on the latest headlines. If you want to appeal to Millennials, you must have an engaging and relevant social media presence for your brand.

The use of hashtags (#) was first popularized by Twitter but are now used across most social media platforms. The hashtag is a type of SEO for social media marketing with many individuals following specific hashtags. It is important for you to create and implement your own hashtags unique to your brand. Then, incorporate popular industry hashtags when posting events and content for your company.

The Millennial generation finds social media appealing with its combination of minimal text and appealing imagery. When creating ads or print flyers for your company, keep social media in mind and create marketing material that is visually appealing and easy to share. Focus on bold, dramatic imagery and key phrases. Ensure that the social media pages for your brand are accurate and easy to find. Start by setting up your social profiles in your benefits toolkit so they’re easily accessible.

Grow Your Referrals and Ratings

The Millennial generation relies heavily on recommendations and will research a company’s reviews when considering engaging in business with them. They trust others’ opinions when making decisions regarding a service provider.

In order to ensure your agency is found on Google when researched, claim your Google business listing and complete your Google business profile if you have not already done so. Word of mouth and referrals are crucial for your business to stand out and grow amongst this generation. Do not hesitate to ask policyholders for feedback and reviews on your services. Coordinate with Benefits Zone to add a button in your toolkit directing your customers to your Google review page so they can quickly and efficiently access your site to leave a review.

Prepare for the Shift in Eligible Employees

You, your community, and your industry are facing a period of significant uncertainty. Although it may be difficult to pivot to a new target market, it is still important to adapt your brand and build your connections for the future of the health benefits market. While 2020 may not have held a lot of engagement with the Millennial eligible employee, the rise of their purchasing power is inevitable. Continue to build and expand your brand to appeal to this generation in preparation. Contact us to learn more.