Millennials have a reputation from some people in “older” generations of being entitled and sometimes lazy. Millennials will tell you they feel independent and confident they will accomplish their goals on their own terms. So how do we design retirement plans to get younger participants to start saving and increase their savings over time to hit their goals?

Millennials, sometimes referred to as “Echo Boomers,” are the largest workforce demographic in the U.S.. This doesn’t include the Millennials still in school who have yet to join the labor force. A new study from JPMorgan (JPM), gives us 3 important insights on the attitudes of our young workers.

1. “Do It For Me”

According to JPM’s research, those under 30 are more likely than those 30 and over to classify themselves as “do if for me” investors (69% vs. 56%). Those under 30 are also more likely to appreciate receiving notices from their employer if they are not saving enough (62% vs. 30%).

2. They expect their employers to take responsibility for helping them save and invest for retirement

The survey from JPM found that employees under the age of 30 assign at least some degree of responsibility to their employers for helping them save for retirement (82% vs. 73%). What is even more eye-opening is that half of those under 30 think their employers have an obligation to help them choose the right investments, compared to only 22% of their older colleagues.

3. Strong proponents of the “automatic 401(k)”

The research finds that 84% of workers under 30 are in favor or at least neutral toward automatic enrollment. In that same group, 86% like the idea of automatic escalation.

We need to ask ourselves as an industry trying to help Americans secure retirement outcomes, why are we not using automatic features more often to answer the call for our “Do It For Me” workforce?

Mark Laughton, Vice President