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Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

March/April 2025

A Benefit Plan From A to Z

A Benefit Plan From A to Z

Most employers' workforce consists of Baby Boomers, Generation X, millennials, and Generation Z. These generations have different situations and benefit needs, so increasing numbers of employers are looking beyond a one-size-fits-all plan to multi-generational benefit plans.


Know Your Demographics
The first step in moving your company's benefit package toward a multigenerational offering is to know your workforce demographics and identify what generations have in common and their differences.


The University of North Carolina Kenan-Flagner Business School Guide to Leading the Multi- Generational Workforce identified these common values: success for the companies; a culture that encourages leaders to lead by example, be accessible, serve as a coach or mentor, challenge employees, and hold them accountable; to enable success in their careers; recognition of different life stages, and expectation of new and unanticipated challenges ahead.


Specific to benefits, a recent Forbes Advisor survey found that Gen Z, Gen X, and baby boomers all prioritize flexible work options, paid time off, and parental leave.


Communications and Feedback
Tailor communications for your audience. Make all communications clear and send it through multiple channels. Gen X, millennials, and Gen Z have grown up in a digital age of instant information. They prefer short, straightforward messages.


Solicit feedback throughout the year and act on it. Measure the benefits of using it over time and adjust your program accordingly.


Recognition and Teamwork
Motivate employees with incentives that matter to them. To create effective reward programs, consider what inspires (or turns off ) certain generations or individuals. Create programs that encourage generations to work together and to share knowledge. Let them know that sharing their knowledge is vital to the success of your organization. For more direction, review your benefits program regularly with your financial professional.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
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