Millennials have dominated the national conversation for the past decade, but in all the talk about the newest members of the workforce, we’ve somehow missed their parents – Baby Boomers. With workers 55 and older projected to make up 25% of the U.S. labor force by 2020, boomers are redefining what it means to be aging in the workforce, and redefining senior benefits in the process. People today are living longer, retiring later, and pursuing passions well into their golden years. How can the workplace address the needs of these new “senior” citizens?
(Related article: Survey: Many Organizations Unprepared for Aging Workforce)
Corporate concierge is a workplace perk that boosts engagement, productivity, and the bottom line for employers by providing personal assistance services to employees. As boomers face a whole new set of challenges and concerns, there is a huge opportunity for concierge providers and savvy employers to provide age-friendly benefits and perks for senior employees.
From estate planning to medical coverage to reimagining retirement, here are five benefits a comprehensive Senior Concierge service should provide:
- Health Care Consultation
Who knew missing Medicare enrollment deadlines had a financial penalty? The government has set a “senior citizen” date, which many boomers are unaware of (or ignoring). To make sure they have continuous health and prescription drug coverage now and when they retire, employees need advice, information and resources to help them navigate Medicare Part A, B, C and D eligibility, requirements, changes, and important dates.
- Legal and Financial Consultation
From debt counseling to estate planning, legal and financial affairs are another key concern for boomers. Referrals to experts and resources for will preparation, retirement budgeting, identity theft prevention, and assistance with credit issues can help boomers plan for a secure financial future.
Early bird specials, group travel deals, and reduced ticket prices – a huge perk of “the next phase” is the opportunity to save on fun activities. A concierge service that can act as an information hub and ticket seller for travel, culture, entertainment, dining and shopping senior discounts is a great incentive to offer employees and family members.
- Emotional Wellness
How will seniors handle changing relationships with kids, grandkids, spouses, friends and colleagues over time? Emotional support in the form of advice, tips, referrals and resources for overcoming generation gaps, making new friends and dating beyond established social circles, and forming new bonds with spouses and family members will go a long way towards helping boomers ease into their later years.
- Retirement Coaching
There is no one-size-fits-all retirement. Today’s “retirees” are embarking on late-in-life second careers, giving back to their communities, founding organizations, and traveling the world. Consultation and referrals for personal development and growth opportunities, from mentoring, volunteering and taking classes, to setting goals and achieving lifelong dreams, can help seniors find new purpose and redefine “retirement” for themselves.
Senior employees are a valuable asset to the workforce, with a wealth of institutional knowledge and experience that will be hard to replace. Retaining boomers is good for business, and employers that value their senior employees will need to provide age-appropriate benefits to help keep them productive and engaged. Senior Concierge services have the potential to address employees’ needs now and in the future, and help boomers and their families thrive for decades to come.
Erin Krehbiel is the President of ACI Specialty Benefits. Krehbiel studied Management Science at the University of California, San Diego and has since built a successful career in management and sales. As a strong female business leader and innovator, Krehbiel revolutionized ACI’s offerings by expanding into higher education and championing social media and mobile app access for clients, making ACI the first to bring EAP-style resources to student populations.
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