Payroll deduction is the preferred payment method for Boomer, Generation X, and Millennial employees, finds Eastbridge Consulting Group’s latest demographic report
AVON, Conn., March 17, 2020 (GLOBE NEWSWIRE) -- 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%).
The Exploring Employee Demographics: Key Attitudes and Behaviors towards Voluntary/Worksite Benefits — MarketVision™—The Employee Viewpoint© report is now available. The cost of the report is $2,000. For additional information or to purchase the report, visit the report page by clicking here, e-mail info@eastbridge.com, or call (860) 676-9633.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada.
Ginger Bates (803) 782-0560
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