Is Your Benefits Mix Leaving Key Employees Behind?

In the battle to meet employee demand for better benefits, employers must pause to consider who those benefits are aimed at. In order to hold onto more senior, experienced employees there must be a balance of benefits that appeal to workers of all ages. Research shows that older workers tend to have longer tenure(1), high engagement(2),(3), and a more positive impact on teams(4). So it is to the employer’s benefit to offer a smarter, more inclusive strategy when looking to retain more seasoned employees. But what does that strategy look like? In this article, learn more about what older workers want, including benefits that address health concerns that become more significant with age(5), like cancer. Cancer is the #1 ranked medical fear for Americans(6), and statistics show that advancing age is the most significant risk factor for developing cancer(7).

1. New Release, Bureau of Labor Statistics, U.S. Department of Labor. Employee Tenure in 2020. Published September 22, 2020.
2. Aeronautical University Scholarly Commons: Employee Age and the Impact on Work Engagement. Published May 27, 2020.
3. Gallup. The Relationship Between Engagement at Work and Organizational Outcomes. Published October 2020.
4. SHRM. SHRM Foundation Executive Briefing: Leveraging the Value of an Age-Diverse Workforce.
5. SHRM. Benefits for Older Workers. Published March 1, 2012.
6. MedicareAdvantage.com. What Medical Condition Are You Most Afraid Of?. Published May 5, 2021.
7. National Cancer Institute. Age and Cancer Risk. Updated March 5, 2021.

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