Generation Z are the hardest talent to retain compared to other sectors of society, in light of this a health and wellbeing advice service has released some tips on the best way to keep hold of Gen Z employees.
Towergate Health & Protection, an independent insurance broking service for businesses and individuals who specialise in health and wellbeing advice have compiled this list as Gen Z now outnumber the amount of millennials (32 per cent) who make up the world population.
It has also been found that 73 per cent of Gen Z workers left their role in 2018 as it was below their expectations, compared to 48 per cent of the wider population.
Towergate Health & Protection believe as Gen Z have the least amount of experience compared to other sections of working society and so they are “most at risk of becoming disengaged in the workplace”.
Towergate Health & Protection have put together a list in which should help you engage with Gen Z:
- Adapt communications and wellbeing initiatives within the range of Gen Z’s needs. Offering tailored support for health and wellbeing can be a great way to show Gen Z they’re recognised as individuals
- Employee benefits shouldn’t be standardised or necessarily employee wide. To appeal to Gen Z, businesses need to be creative and develop something which this group can tailor, such as offering DNA testing which is personalised – looking at an individual’s genetics in relation to improving areas such as nutrition, fitness, wellness, stress and sleep
- Gen Zers grew up in the shadow of recession, they’re entrepreneurial but pragmatic, they want security and they’re willing to work for it. They are a financially savvy group who understand the value of saving money and will respond well to financial initiatives
- Gen Z are at a time in their lives where they are beginning to have financial obligations (such as leaving home and taking responsibility for rental costs and household bills) so financial protection benefits such as income protection and life assurance can be of great value
- Gen Zers are ambitious, they want to work for a company they believe in, with a culture that offers career growth. Leaders in the workplace need to be flexible, adapting their approach to deliver support and motivation in a way that resonates with them
Brett Hill, distribution director, Towergate Health & Protection said:
We live in a unique era with five different generations all in the workforce at the same time, which has led to lots of myths about how to handle and communicate with each generation in turn. As each new demographic enters the workforce, they not only bring different skills and ideas but new expectations and ways of working, putting employers in the uniquely challenging position of adapting to an unknown generation of workers.
Failure to properly manage Gen Z can have a detrimental effect on a business’s ability to recruit and keep hold of talented people. As Generation Z enters the workforce, they are looking for an environment that is dynamic, social and helps support their physical, financial and mental health and wellbeing.