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Gen Z may have lost their jobs due to the pandemic, but that won't stop them finding new ones. Gen Z (born in 1996 and later) will account for around 60 million job applicants in the coming decade, much outnumbering their millennial counterparts.
Companies will be wooing talent and passion as they emerge from the pandemic and prepare for an anticipated recruiting boom. After all, this generation's skill set is especially suited to this era of hybrid employment. This is the start where technology transforms industries.
Gen Z wants to know what a firm stands for before committing to work for them, and they also want to see how an employer will support its own employees. Traditional benefits aren't enough. Sixty percent of Gen Z employees are dissatisfied with their present perks. The majority prefer flexibility and yearly incentives to medical coverage and paid time off. Instead, young workers are more likely than other employees to utilize services like short-term loans, mental health apps, daily pay features, and
fitness and weight management programs.
Since the workforce is increasingly becoming diverse, there is a need to solve the discomforts that prevail in the companies. Employers have to take a holistic hiring approach and cater to the experience of Gen Z workers to attract and keep them.
Difference Between Gen-Z and Millennials
Millennials and Gen Z make up the world's biggest populous age group. Knowing the distinction between the two is critical for a company's recruitment practices to remain current. When putting out an employee benefits package for Gen Z, you must examine the distinctions between the generations. Still, there are also some parallels to consider.
These are the perks and benefit plans you can offer to your Gen-Z employees:
Satisfy their immediate concerns
The ambitions of Generation Z are typically short-term and come with high expectations. As a result, perks that meet their immediate financial demands, such as comprehensive health care, tuition reimbursement, or commuter benefit programs, would certainly pique their attention. Gen Z is more focused on individuality than millennials and is better at multitasking. Remote employment or working from home might thus be a better fit, saving them time and money on the daily commute.
Read more: Identifying Benefits For Small Businesses
Standard employee benefit package
Employee benefits packages increasingly include health insurance as an essential feature. While Generation Z members are high achievers willing to work hard, they want their company to meet their job-related demands. This entails including vision, dental, maternity, and even wellness coverage in the package.
Mental Health Services
Employee support programs can help these high achievers deal with stress, exhaustion, and other prevalent mental health difficulties in the workplace (EAPs). Your new employees will no longer be afraid to talk about these difficulties, especially if you have been able to create a comfortable environment for them.
Offering telemedicine or virtual mental health treatment through a mobile phone would help them feel safer since the digital world is familiar with and comprehended. These smartphone natives will welcome being able to have fast access to a doctor's advice and medications without having to wait for an appointment. Instead, they will receive convenient and mobile-friendly emotional support.
Offer financial aid or advice.
Offering financial counseling sessions or loan payment assistance to Gen Z employees will help create trust and loyalty with your firm. Explaining the value of saving and assisting them in developing future goals is one strategy to keep a young employee.
Read more: Choosing The Right Benefits Agency
This generation expects companies to provide them with opportunities for personal development on their own terms. Allowing Gen Z employees to spend their lifestyle perks in any way they choose by giving lifestyle spending accounts is ideal. They can then select between a gym membership, a spa weekend break, or language or skills training that is not mandated by the firm.
Flexibility In The Workplace
Gen-Z emphasizes work-life balance above everything else, preferring flexible work hours and telecommuting. According to this New York Times story, work has become somewhat of an obsession in America. Younger people are pushing back and seeking flexibility. Employees are reshaping their job to fit into their lifestyles, rather than the other way around. How does your company handle workplace flexibility, and how can you publicize these rules to attract new employees?
Read more: COVID-19 to Speed Up Virtual Health Care
Human engagement and community are essential to Gen-Z. Workplace connections that are good and strong make work feel less like labor. Employers should provide opportunities for employees to communicate with one another, whether in person or online. Community bonuses may help build a sense of belonging while also lowering stress and burnout. Team outings, yoga classes, picnics, game evenings, and more are all possibilities!
Professional Development Opportunities
One of the most significant things to a Gen-Z employee is professional growth opportunities. Mentorship programs, lunch and learns, and even paid training programs are all examples of this. Learning is seen as the key to job progress by 76 percent of Gen-Z employees. There is no doubt that there is a need for additional information in the workplace. Employers should establish a learning and skill development environment for Gen-Z employees to feel happy and engaged. BP Consulting is here to help you today with your employee benefits!
That is the way you can attract Gen-Z employees and get the best workforce.
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