Posted May 19, 2021 by Mark Perna
Episode Title: Workplace Benefits by Generation
The type of benefits you want at work has a lot to do with what generation you’re from. Here’s what older and younger generations want, coming up next on the Syndicate.
Ep 203 show:
Welcome—you are now in The Perna Syndicate! Today, 3 out of 4 employees believe that their employer has a responsibility for their mental health and overall wellbeing. This goes far beyond traditional benefits like medical and retirement plans, important as those are.
A recent study by MetLife found that now, employees are ranking benefits differently based on their age. Boomers like myself, for example, are prioritizing benefits related to their physical health—such as vision care.
Meanwhile, younger employees, including Gen-Z and young Millennials, are more interested in benefits that positively impact their mental and financial health. Things like legal services, student debt assistance, and life insurance are very important to these workers, as they map out their lives and plan for the future.
Every company needs to create its own cocktail, if you will, of the specific benefits that matter to its unique employee demographic. This can only happen if employers truly take the time to know their employees and what matters to them.
Employers who want to stay competitive in a changing world should focus on delivering what their employees need and want. Because that’s the kind of people-first workplace that no one wants to leave.
On tomorrow’s show, we’ll talk about the huge disconnect between employers and employees on the topic of flexible work arrangements. We’ll see you back here then at the Syndicate.