Motivational Buttons
August 29, 2007

In our Tribune Shareholders Approve Deal/Exit Strategy post, we talked about how baby boomers will be looking for an exit strategy in the next twenty years.  This Retirement Plan Blog post expands the discussion on generations by suggesting that 401(k) communication would be more effective if we targeted the motivational buttons of each generation:

“It has everything to do with the retirement plans, particularly 401(k) being designed and managed for today's workforce. A workforce which also has four dimensions. But these are generational dimensions, the four generations of employees in the work force for the first time in our history. In purely demographic terms, they are:

• Veterans: 1922-1945
• Baby Boomers: 1946-1964
• Generation X: 1965-1980
• Generation Y: 1981-2000

And based on their generational backgrounds, each employee has different attitudes, behaviors, and expectations. If we’re interested in using the right motivational buttons in making our 401(k) plans more effective, then we have to communicate accordingly. Let’s not take the easy way out by simply using automatic enrollment and qualified default investments.”

While the post refers to 401(k) communication, understanding motivational buttons is even more important for initial and ongoing ESOP education and communication.