In today’s competitive talent market, few can navigate the changing benefits landscape like Kristina Welke, VP of Strategy, Solutions, and Marketing for New York Life Group Benefit Solutions (NYL GBS).
From her Chattanooga base, Welke observes how companies adjust their offerings to meet the expectations of a multigenerational workforce.
“The challenge for HR lies in understanding the needs of different employee segments and directing adequate resources to truly make a difference,” Welke stated.
The data highlights disparities: Boomers typically value traditional retirement and medical benefits, while Gen Z and millennials seek financial wellness programs, mental health resources, comprehensive leave policies, and IVF treatment coverage.
Employers now offer 16 to 20 benefits on average, yet employees typically spend under 20 minutes deciding on enrollment. “I spend more time on Zappos buying shoes,” Welke noted, underscoring the gap between benefits complexity and employee engagement.
This challenge is exacerbated by confusion around benefits. The 2024 BEAT Study by LIMRA and LOMA found that 56% of employees are uncertain if their employer offers supplemental health benefits.
Confusion isn’t limited to Gen Z. Digital transformation aids all generations. New York Life’s portal usage has increased to 50% across all age groups. “We’re busier than ever, prompting companies to evolve their capabilities,” Welke said.
NYL GBS’s digital tools are expanding, including myBenefitsAssistant, which aids employees in identifying suitable benefits based on life stage and priorities through a few questions, offering a personalized experience for all generations.
Building on this, Welke announced a partnership with Pasito, an AI-powered benefits platform enhancing personalization. “This partnership emphasizes our commitment to providing planning and tools to support employees and simplify benefits,” she stated.
Pasito’s mobile-first portal centralizes all benefits (medical, dental, vision, life insurance, disability, voluntary) within one interface. Innovations include AI-driven benefit plans, content summaries, Spanish translations, and predictive analytics for personalized support.
“When users understand their benefits, they make better decisions for themselves and their families,” Welke shared. “This provides employers with a way to simplify processes and support smart decisions without adding more workload.”
Generational shifts are evident in financial wellness services. Welke noted increasing demand for options traditionally advised by family or personal advisors, including student loan assistance, first-time homebuyer programs, and budgeting help.
In response, New York Life launched Balance Wellbeing, a financial wellness program equipping employees to identify financial gaps, build confidence, and engage in benefits. It offers both self-directed learning and guidance from New York Life’s diverse financial professionals.
The conversation around mental health benefits has evolved significantly post-pandemic. Data from the Society of Human Resources Management indicates about 1 in 5 employers offer designated mental health days now. New York Life’s offerings have expanded beyond traditional Employee Assistance Programs to include mental health coaching, offering support for employees not ready for counseling.
HR executives struggling with complex benefits communication are advised by Welke to employ a multipronged strategy. The Pasito partnership allows targeted communications, dispatching customized alerts by employee segment, location, and generation, maintaining benefits education year-round instead of only during enrollment periods.
“Learning styles and preferences vary,” Welke said. “We all have different ways of learning.”
Welke challenges traditional annual enrollment models, promoting continuous benefits education, particularly during major life events. “Thinking of benefits as a once-a-year task is wrong—it should be ongoing.”
Pasito supports ongoing updates by integrating with over 200 HR systems, like ADP, Workday, and UKG, offering real-time census updates and streamlined onboarding for new recruits.
Welche’s strategic approach focuses on practical business outcomes. As John Locy, Pasito’s Executive VP and Head of Partnerships, remarked, “Employers invest $25,000 per year per full-time employee on benefits, yet this value is often lost without effective communication.”
Welke views evolving benefits expectations as an opportunity, not a burden, to build engaged, productive, loyal workforces.
Her advice to employers is direct: engage in conversations with employees to understand their needs, benchmark against competitors, and invest in technology and education to guide informed decisions. Most importantly, treat benefits communication as an ongoing dialogue rather than an annual duty.
Welke’s leadership reveals how innovative benefits strategies can enhance employee satisfaction and business outcomes. “It’s exciting to pave the way for options any generation can leverage,” she said. “Improved experiences benefit us all.”