Next year, millennials will make up 36 percent of the United States workforce — increasing to 46 percent by 2020. Millennials — otherwise known as Gen Y — are generally defined as those born between 1981 and 2000 — making them a generation too big to ignore and a “must” target for benefits such as disability insurance.
Issues and Trends
It’s easy to see why employers stick with a routine — or stay inside the box. Many employers have become successful at making a product or providing a service effectively, and they stick to the formula that has helped them build their business.
At any given time in the United States, an estimated 1 in 10 adults report symptoms that would qualify for a diagnosis of depression. Although most of us are familiar with the most noticeable impacts of depression, a number of hidden impacts still can affect a workplace as a whole for weeks, months or even years, without becoming obvious.
As our recent blog posts have identified, a trend The Standard has noticed recently is that more and more employees are staying in the workforce longer, delaying retirement until well after age 65. Whether this is due to financial concerns or a desire to continue to be productive, it brings an interesting challenge to employers: how to deal with the disabilities that may occur with aging and still comply with the Americans with Disabilities Act – Amendments Act (ADAAA) regulations.
Employees spend many of their waking hours at work or commuting, which can take a toll on their health, especially if they’re stressed or seated at a desk during the day. You can motivate employees to invest in their well-being by rewarding them with incentives for wellness participation and/or healthy outcomes.
It’s no secret that a healthy workforce can reduce health care expenditures, but employers may need to start paying extra attention to a few growing health concerns affecting today’s workers before it results in a strain on their bottom line.