Payroll deduction is the preferred payment method for Boomer, Generation X, and Millennial employees, finds Eastbridge Consulting Group’s latest demographic report

AVON, CONNECTICUT, USA (March 17, 2020)

While payroll deduction is the preferred payment method across all of the demographic segments analyzed in Eastbridge’s Exploring Employee Demographics: Key Attitudes and Behaviors towards Voluntary/Worksite Benefits —  MarketVision™—The Employee Viewpoint©report, including generation, income, employer size, industry, and occupation, there were a few variances. For example, between generations, Generation Xers preferred payroll deduction more strongly than Boomers or Millennials; and while Millennials were somewhat more open to credit card payments, only 20% of respondents preferred this method. Following are a few other key findings by segment:

  • Across employer size segments, employees in larger groups more strongly prefer payroll deduction (up to 83%) compared to smaller groups (73%), while employees in groups with 50–99 employees are somewhat more open to credit card payments, with 25% preferring this method for future benefit purchases.
  • By industry, Government employees have the strongest preference for payroll deduction (82%) compared to Services employees (72%), while Services employees are the segment most open to credit card payments (24%).

Exploring Employee Demographics: Key Attitudes and Behaviors towards Voluntary/Worksite Benefits - MarketVision™—The Employee Viewpoint©, a Spotlight™ Report

The cost of the report is $2,000. To purchase, call (860) 676-9633 or email us at info@eastbridge.com.

Report Summary

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.


 

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