
8 November 2024
Adapting to the Evolving Needs of a Diverse Workforce
In 2024, the UK workforce is more diverse than ever before. Spanning multiple generations, backgrounds and health needs, employees have varying expectations when it comes to health benefits. With four distinct generations – Baby Boomers, Generation X, Millennials and Generation Z – all present in today’s workplace, businesses are challenged to provide group health insurance plans that address this wide array of needs.
At Ascend Health, we recognise that a “one-size-fits-all” approach to health insurance is no longer sufficient. Companies that prioritise a diverse, inclusive approach to employee benefits not only demonstrate an investment in their people but also improve retention, engagement and productivity. Here’s why a tailored approach to group health plans matters and how your company can make an impactful difference.
Why Inclusive Health Insurance Matters for a Diverse Workforce
The UK workplace is evolving quickly, and employees are increasingly vocal about their unique health requirements. According to a 2023 survey by the Chartered Institute of Personnel and Development (CIPD), nearly 60% of employees reported that a company’s health benefits strongly influence their decision to stay. Employees expect more than just the basics – they want plans that are relevant to their stage in life, background and specific health needs. From family planning and menopause support to mental health services and flexible benefits, inclusive health insurance demonstrates to employees that their wellbeing matters. Ascend Health has seen a marked increase in businesses recognising that tailored benefits play a crucial role in recruitment and retention. Offering inclusive, flexible health insurance coverage can set a business apart in a competitive hiring landscape, particularly as younger generations seek employers who prioritise wellbeing.Tailoring Group Health Plans Across Generations
Each generation in today’s workforce has unique health concerns and expectations, making it essential for companies to offer a range of options. For example:- Baby Boomers (ages 59–77): Many in this age group are nearing retirement or managing chronic conditions. Health plans that cover specialist consultations, ongoing care for conditions like arthritis or diabetes, and regular screenings are highly valued. Additionally, post-retirement health support can appeal to this demographic.
- Generation X (ages 43–58): Often balancing the dual pressures of raising families and caring for elderly parents, Gen X workers benefit from flexible family healthcare options. Coverage that includes family planning, mental health services and caregiver support speaks to their needs.
- Millennials (ages 27–42): As the largest generation in today’s workforce, Millennials expect comprehensive mental health support and flexible benefits that address work-life balance. According to the Mental Health Foundation, 68% of Millennials prioritise mental health benefits, making it crucial for businesses to include counselling, teletherapy and stress management services in their health plans.
- Generation Z (ages 18–26): Gen Z employees are the newest entrants to the workforce, and they place high value on mental and preventive health services. Flexible benefits that support their physical and mental wellbeing – from fitness reimbursements to virtual healthcare options – are especially appealing. A recent survey by Bupa UK found that 74% of Gen Z employees are drawn to employers offering mental health and wellness programs.