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Over the next 10 years, Gen Z will account for more than 60 million job seekers, a large portion of the labor market, according to data from Concordia St. Paul University. The study finds that Gen Z is financially prudent, takes a strong interest in their company benefits and says that their top “must have” coverage is health insurance.
Want to provide Gen Z employees the information they need to understand and value the benefits your company offers? Here are 6 tips to get started.
- Tie to values: Authenticity is important to Gen Z, so show how your benefits align with your company’s values and that your company invests meaningfully in employee health and wellbeing.
- Provide bite-size information: According to cultural consultancy Sparks & Honey, the average Gen Z attention span is 8 seconds, 4 seconds less than that of millennials. Use short videos, Slack, text and social media and other vehicles to share content that’s easily shared and digested.
- Showcase online tools: Gen Z spends more than 10 hours a day accessing information and transacting online, so promote carrier apps, benefits concierge services, HR chatbots and other online consumer tools to offer 24/7 personalized information and support.
- Stress inclusivity According to the Pew Research Center, Gen Z is more racially and ethnically diverse than previous generations, and more comfortable with gender fluidity and using gender-neutral pronouns, so take this into consideration when developing your benefits materials.
- Don’t be one and done: To remind Gen Z employees about the value of your benefits and how they enhance their quality of life, provide education on company offerings throughout the year, not just during annual enrollment.
- Be transparent: Share what the organization spends on benefits, show how personal coverage and care decisions affect both employee and employer costs, and provide tools to help them make smart coverage choices.
Company benefits still constitute around 30% of an employee’s total compensation, so make sure that your benefits communication – how you talk and teach about your benefits – connects with and responds to the needs and preferences of your evolving workforce.
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