Generation Z expected to make up 27% of workforce by 2025
Employers are being urged to remember and maintain the standards of Gen Z employees as they plan for their benefits strategies this year.
The call follows the growing amount of Gen Zs in the workforce, with market research firm McCrindle expecting them to make up 27% of the workforce by 2025.
But beyond their expanding size, Jamie Madden, Senior Vice President of Workforce Engagement and Benefits Connectivity at MetLife, said Gen Zs are also setting the standards for what a positive employee experience looks like.
MetLife's 2023 Employee Benefit Trends Study revealed that Gen Z employees are more likely to expect a tailored, year-round benefits experience than other employees.
According to the report, 62% of Gen Zs want their employers to communicate with them after they have enrolled in benefits.
The same number of Gen Zs also wished that their employers offered more personal recommendations, as 50% said most of the benefits communications they previously received don't feel relevant to them.
These expectations from Gen Z employees aren't that different from the needs of the entire workforce, the report revealed.
It found that 54% of all employees also wish they had personalised benefit recommendations and 65% want their employers to communicate with them about their benefits throughout the year, not just during enrolment.
"By keeping [Gen Z employees'] standards top of mind, employers can better serve the needs of their entire workforce," Madden said in a media release.
The executive also urged employers to make changes in the way employers engage and show care for their employees.
Approaching benefits strategies with a focus on continuous education and increased utilization throughout the year would also make one in two employees feel more cared for, according to the report.
And these feelings have an impact on employee wellbeing, happiness, overall satisfaction, and organisational performance, according to Madden.
"Delivering timely, approachable communication and resources is critical to ensuring each generation in today's workforce understands how to elect and use the benefits that are right for them year-round," he said.
