Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Portfolio > Economy & Markets > Economic Trends

Study Mulls Changing Face Of The U.S. Workforce

X
Your article was successfully shared with the contacts you provided.

America’s employers may have as many as 4 distinct generations in the workforce for the first time in history, a new report points out.

Because each generation carries its own set of values, communication styles and attitudes about work-life balance, this presents a challenge to employers and employee benefits firms trying to suit their needs, according to the study by Unum, Chattanooga, Tenn. And LIMRA International, Windsor, Conn.

Among other trends confronting employers and worksite marketers today is an evolving American household. Single Americans now outnumber married couples with children. Nearly 30% of all children live with a single parent, and many adults are caring for children, spouses or aging parents, notes the report, “HR Trends and Challenges: The Changing U.S. Demographic, Economic and Social Landscape of the Workplace.”

Other factors deeply changing the workplace is the aging of baby boomers, increasing ethnic diversity and rising healthcare costs. Such developments mean that inflexible benefit plans may not suit the requirements of the modern workforce, the study suggests. Wider choices of benefits so they can be tailored to the needs of the individual will become increasingly important, it concludes.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.