From Boomers to Gen Z: Tailoring Benefits by Generation

Transcription

1 From Boomers to Gen Z: Tailoring Benefits by Generation Beth Fried-Hudes, Group Vice President of Client Relations, Bright Horizons Jose Borbor, Global Head of Total Rewards, DTCC Gina Florio, Director of Benefits, AMC Networks

2 Your Panelists Jose Borbor, Global Head of Total Rewards Beth Fried-Hudes, Group Vice President Gina Florio, Director of Benefits

3 Generations GENERATION AGES INTERESTING FACT TRADITIONALISTS/SILENT BABY BOOMERS GEN X GEN Y/MILLENIALS GEN Z 6-23 Women stayed home to raise children or worked as teachers, nurses or secretaries Men pledged loyalty to the corporation, once you got a job, you generally kept it for life Even though their moms were housewives, women began working outside the home in record numbers First generation to use word Retirement = being able to enjoy life after children leave Tend to commit to self rather than an organization or career, averaging 7 career changes in their lifetime; not typical to work for a company for life, unlike previous generations Late to marry (after cohabitation) and quick to divorce many single parents Envision the world as 24/7; want fast and immediate They do not live to work, they prefer a more relaxed work environment with a lot of hand holding and accolades They have never known a world without computers and cell phones 91 percent of children 8-17 have a cell phone

4 How Well Do You Know the Generations? 1. Which Generation is Considered Digital Native vs Digital Immigrants? Boomers Gen X Gen Y Gen Z 2. Name The Generation The Slackers Coddled Kids The First TV Generation 3. Jennifer Lopez, Ashton Kutcher, Barack Obama, Cher Name the Generation 4. Name The Generation Work Ethic = Driven Workaholic (60 hr weeks) Strong Work Ethic 5. Name The Generation Work Ethic = Pay Your Dues Respect Authority Company First Generation Ages Silent Baby Boomers Gen X Gen Y Gen Z 6-23

5 DTCC: From Boomers to Gen Z

6 About DTCC OUR PROMISE To proactively develop solutions to secure today s marketplace, while shaping the future of our industry. We promise to stand at the forefront of innovation to mitigate risk, create market efficiencies and reduce costs With more than 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. DTCC automates, centralizes, and standardizes the processing of financial transactions across the trade lifecycle and mitigates risk for thousands of institutions worldwide.

7 DTCC s Impact to Financial Markets DTCC processes securities transactions valued at $1.7 quadrillion+ annually. DTCC s DTC subsidiary provides custody and asset servicing for securities issues from 130+ countries and territories valued at $49 trillion. DTCC s NSCC subsidiary is the central clearinghouse for 50+ exchanges and equity trading platforms in the U.S. DTCC s FICC subsidiary processes ~$4 trillion each day in U.S. government- and mortgage-backed securities transactions. DTCC s Global Trade Repository processes 250 million+ submissions per week covering 5 asset classes. DTCC s Institutional Trade Processing services processed more than 970 million trade details in 2016.

8 The Madoff Connection From a 2017 article published in the Atlantic about HBO s movie on Bernie Madoff At one point an SEC auditor asks Madoff for his firm s DTC number. If the investigator had called the Depository Trust Corporation, he would have learned that Madoff s investment-advisory account had no securities on deposit. The fraud would have ended years earlier, but that one phone call was never made

9 DTCC s Workforce More than 4,000 employees across 21 locations in 15 countries During last 5 years, the number of Gen Y and Z employees have increased 3-fold

10 Benefits Strategy DTCC provides market-competitive benefits that attract, engage and motivate employees to achieve sustained performance GUIDING PRINCIPLES Globally consistent, locally competitive Are at market on aggregate Focus on needs of all employees Managed like a business: return on investment Focus on well-being

11 Benefits Across Age and Borders Generational Diversity College Coach for U.S. employees Back-Up Child Care in U.S. and Canada Targeted financial seminars from budgeting to retiring smart 16 weeks parental leave Harmonize vacation days Flexible Work Arrangements Instant recognition program linked to Amazon Gen Y Boomers Gen X Gen Z Diversity in Location Parental health insurance in India Retirement contributions to all employees in Wales Globally streamlined education assistance program with local relevance

12 Promoting Well-Being Current Benefits New Benefits U.S.: Mindfulness sessions Financial counseling Legal, critical illness, hospital, indemnity benefits Tobacco cessation program Employee wellness credits Global: Learning seminars Walking challenge Employee assistance program U.S.: Additional voluntary: long term care, identity theft, pet insurance, auto/home Gym discount program Weight loss program 401k auto-escalation Spouse wellness credits Global: Global mindfulness sessions Physical Financial Emotional

13 AMC Networks: From Boomers to Gen Z

14 AMC Networks Inc. Who were we? Spin off from Cablevision Formerly called Rainbow Media Holdings ( ) Four domestic network channels Who are we now? Publicly traded company AMCX Global presence AMC Networks International Moving from Broadcast to Digital Today s Brands - Domestic Networks and Film AMC IFC SundanceTV WeTV IFC Films BBC America Joint Venture Premium Streaming Services Sundance Now Shudder UMC

15

16 Census Changes Employees Average Age Female 489 Male 1,140 Employees Average Age Female 564 Male

17 Through the years 2011 Added Added Medical Dental Vision FSA Health FSA Dependent Care 401k Savings Plan Bright Horizons Back-Up College Coach Adoption Award Domestic Partner Tax Incentive Award Pet Insurance Group Auto and Home Paid Parental Leave 2 wks CDHPs with HSAs Health Advocate for Wellness and EAP Financial Wellness Seminars geared to LifeCycles Summer Fridays Enhanced Parental Leave 16 weeks (6 are paid) Caregiver Leave 6 weeks IVF (no restrictions) Bright Horizons Care Advantage

18 What is on the Horizon? Paid Time Off Considering moving to a paid time off policy for flexibility instead of vacation, sick and personal days Additional Voluntary Benefits Considering a Critical Illness, a Hospital Indemnity and an Accident Plan as well as ID Theft Protection Plan Flexible Work Flextime Schedule Considering more flexible work schedules, i.e., working remotely, and flexible hours Grandparent Leave Considering a grandparental leave program of a few days off

19 Questions?