For every generation you have working in your office, and there are four generations in the current workforce, you need to reevaluate what benefits mean to them. Your older employees will have much different priorities from your youngest team members. And while salary is a great start, there is a lot more to engaging your employees every day. Here are a few ways better benefits can make your staff stronger.
Understand Behavioral Shifts in the Workplace
The modern workplace is a new era for most Americans. For the first time, it’s made up of four generations including both men and women. And while a lot of companies are focusing on the largest cohort, the millennials, Generation Z is coming up quickly and has a new set of behaviors that will impact the workforce.
But keeping your head in the sand and continuing to do things the way they have always been done isn’t a healthy approach and won’t keep the generations engaged at work. And with baby boomers looking toward retirement and Generation X still very much in their peak earning years, it’s important to understand the things that drive each group in your company.
Offer Benefits That Fit the Generational Needs
To this end, you should be able to customize your benefits to support each group of employees in the way that matters to them most. Many companies do this by offering voluntary benefits that can be accepted in an a la carte fashion.
They can select and pay for only the benefits they want and need. This gives the boomers the chance to increase insurance coverages or add more money to their retirement pool while not forcing the youngest team members to spend their money in that way.
Provide Mental Health and Wellness Support
Burnout is a major concern and not something organizations can afford to ignore. If you’re working your employees to the bone without any regard for their personal life or how downtime can help them recharge, you’ll quickly lose top talent. They’ll transition to companies and careers that have a focus on work/life balance.
Big topics today are general wellness and mental health. Employees unable to cope with stress at work and at home often turn to unhealthy mechanisms such as drinking or bullying in the workplace. You can help solve this by offering benefits that address mental well-being on and off the job.
Share More About What You Offer
In the end, the best way to attract quality candidates across the generational divides is to create a company where everyone wants to come to work. And showcasing your benefits, especially when flexible, will give everyone looking for a job at your company an insight into the way you treat your team.
Also, choose effective communication strategies for every group in your workplace. Younger employees, even many from the now firmly middle-aged Generation X, want digital options for communication. They like texting, emails and even chatbots. While boomers may feel more comfortable on the phone or like to have a booklet to refer to when they have a question. You can even hold meetings to discuss your benefits packages whenever changes are implemented.
How do your benefits fit your team?
About Anserteam Workforce Solutions
Anserteam Workforce Solutions represents North America’s very best staffing agencies aligned together to deliver world-class workforce management solutions. We offer end-to-end talent services that can be customized for any size business, utilizing our Managed Services Provider (MSP) model and Vendor Management Solutions (VMS) technology. Is your organization seeking a WBENC-certified diversity partner to provide measurable results and substantial cost savings? Contact us today.