As GenZers prepare to enter the world stage, the impact of their entry will be rapid and profound, with effects in the workplace, retail consumption, technology, politics, and culture. Unlike millennials, this generation has an entirely unique view of a career and how you can define success in life and employees.
To win the hearts of Generation Z, businesses and employers will need to highlight their efforts to be excellent global enterprises. As Gen Z grows into the workforce, employers must learn how to manage a diverse team-best and get serious about EVP initiatives.
DEIB as a strategic priority: Diversity, equity, inclusion, and belonging -DEIB are four concepts that work together to boost team dynamics, productivity, and innovation within your organization. Workplaces can only move the needle if they make DEIB a key organizational strategic priority. With this, your strategy will have clear goals and performance measures that can be reviewed and discussed by the CEO and leadership regularly.
FLEXIBILITY IN THE WORKPLACE
Work-life balance is undoubtedly what Gen-Z values the most, seeking flexible work hours and telecommuting. Today employees shape work to fit into their lives, not the other way around. How does your organization approach flexibility in the workplace, and how can you advertise these policies to attract these employees?
Most importantly, Gen Z and millennials want an employer who cares about wholesome well-being. 2020 will improve employee wellbeing. If the people in your organization are not healthy – physically and emotionally – your organization is not healthy either. But the attitude of the welfare organization for employees has long been a factor in where people wish to work and how they feel about their current employer – in fact, it is the three central themes for any cohort of generations before COVID. -19.
HOW TO OFFER GEN Z EMPLOYEES BENEFITS?
Your employee benefits packages should be ready before Gen Z enters your workforce in this fast-paced global market. As Gen Z representatives become more money-oriented, they are more likely to stay with their former employer longer and believe they will be given significant benefits. Because they focus more than “experience” on property and purchasing, salary, comprehensive health insurance, training, and development programs are paramount.
When an employer covers all work-related expenses, Gen Z can feel secure and will likely choose to stay with their employer long-term. Companies can offer them some creative benefits to attract the Gen Z workforce. If it’s hard for you to inspire Generation Z millennials and employees in your workplace, consider the following steps:
- Satisfy their immediate need: Generation Z’s goals are generally short-term and come with high expectations. They will more likely be interested in benefits that will satisfy their immediate economic needs, such as extensive health care, tuition reimbursement, or commuter concession plans. Gen Z is focused on individualism and is greater at multitasking than millennials, so working from home or remote work can be an answer to their requirements, saving them time and funds on the typical commute.
- Don’t forget about the “standard” employee benefits package: Health insurance at work is nowadays considered a benchmark among employee benefits packages. While associates of Generation Z are high achievers and are keen to work hard, they want all their work-related requirements to be met by their employer. Being able to get instant access to a doctor’s advice, getting prescriptions without wasting time for a visit, and getting convenient and mobile-friendly emotional support, will be much valued by these smartphone natives.
- Add ‘lifestyle’ benefits: This generation is expecting employers to provide them with the opportunity for personal growth on their terms. Let the Gen Z team choose how they want to spend their lifestyle benefits by proposing lifestyle spending budgets. They can then choose between a spa weekend getaway, a gym membership, or a different language or skills course, which the company does not impose.
Has your organization not addressed the above items — wellbeing, ethical and transparent leadership, and diversity, equity, and inclusion – recently? If not, then it’s time to start having these conversations with your leadership team. They aren’t topics just for “young people.” Each issue is also relevant for older generations. Zaggle SAVE is the digital solution for upholding new-age employee benefits like these! Provide the right benefits to your employees which helps them to save tax and boost your employee retention rates. Talk to us about how?
