New Year, New Benefits Experience: Lessons From Gen Z on Engaging a Multi-Generational Workforce
11 Janeiro 2024 - 5:17PM
Business Wire
As Gen Z’s foothold in the workforce grows,
employers can provide a year-round benefits experience that
resonates with the youngest in the workforce and beyond
To meet the evolving needs of today's increasingly
multidimensional workforce, providing a personalized, always-on
benefits strategy is key to keeping employees satisfied, engaged,
and loyal. Setting the tone for this new standard of benefits
engagement is Generation Z – who, according to MetLife's 21st
annual U.S. Employee Benefit Trends Study, are more likely to
expect a tailored, year-round benefits experience than other
employees. Sixty-eight percent of Gen Z employees want their
employer to communicate with them after they have enrolled in
benefits, not just during annual enrollment, the study found.1
With the number of Gen Z employees in the workforce expected to
surpass that of baby boomers in early 2024, employers will need to
reevaluate their benefits strategies with an eye toward Gen Z’s
expectations. MetLife’s study found that half of today’s Gen Z
employees say most of the benefits communications they receive
don’t feel relevant to them, and 63% wish their employers offered
more personalized recommendations.2 This comes as Gen Z workers are
also least likely to say that their benefits meet their evolving
needs throughout their lives.
“As employers across the U.S. plan their benefits strategies for
the year, it’s vital for them to recognize the unique preferences
of each generation,” said Jamie Madden, Senior Vice President of
Workforce Engagement and Benefits Connectivity at MetLife. “Gen Z,
in particular, is setting the stage for what a positive employee
experience looks like, and by keeping their standards top of mind,
employers can better serve the needs of their entire
workforce.”
Meeting Multi-Generational Needs,
Year-Round
While more vocal about their needs, Gen Z isn’t the only cohort
looking for a customized and comprehensive benefits experience.
MetLife’s research found employees across all age groups are
experiencing unique challenges that they want their employers to
address—54% of all employees wish they had personalized benefit
recommendations and 65% want their employer to communicate with
them about their benefits throughout the year, not just during
enrollment.2
While information at open enrollment sets the stage for initial
awareness, increasing benefits communication year-round can improve
employee understanding – and there are modern tools employers can
leverage to enable this; for example, MetLife recently announced
its collaboration with Nayya to enhance employees’ benefits
experience at open enrollment and beyond. Solutions like this, that
provide educational guidance and always-on engagement, help
employees get the most value out of their benefits by choosing and
using those most relevant to their individual needs – particularly
as each generation approaches different life milestones.
For example, millennials navigating parenthood for the first
time may be seeking opportunities to learn about childcare or
fertility benefits, while Gen X employees stepping into the role of
‘caretaker’ for aging parents may be looking for benefits that can
help them care for their loved ones in need of elder care.
Achieving Business Objectives Through
Benefits Engagement and Utilization
For employers, approaching benefits strategies with a focus on
continuous education and increased utilization throughout the year
offers a return on investment – beyond yielding a more satisfied
workforce, MetLife data shows this would make one in two employees
feel more cared for.2
“Employee care has a tangible impact on employee wellbeing,
happiness, and overall satisfaction, and, ultimately,
organizational performance. Thus, as the workforce evolves, so too
must the way employers engage and demonstrate care for their
employees,” Madden continued. “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.”
To learn more about tailored benefits experiences and access
additional resources, reach out to MetLife or visit
https://metlife.com/workforce-insights/boosting-benefits-understanding-and-use/.
1 MetLife | 21st Annual U.S. Employee Benefit Trends Study –
Wave 1. 2 MetLife | 21st Annual U.S. Employee Benefit Trends Study
– Wave 2.
Research Methodology
MetLife’s 21st Annual U.S. Employee Benefit Trends Study was
conducted in November 2022 and consists of two distinct studies
fielded by Rainmakers CSI – a global strategy, insight, and
planning consultancy. The employer survey includes 2,840 interviews
with benefits decision-makers and influencers at companies with at
least two employees. The employee survey consists of 2,884
interviews with full-time employees, ages 21 and over, at companies
with at least two employees.
Wave 2 of MetLife’s 21st Annual U.S. Employee Benefit Trends
Study was conducted in July 2023 and was fielded by Rainmakers CSI
– a global strategy, insight, and planning consultancy. The survey
included 2,650 interviews with full-time employees, aged 21 and
over. All employees were based in the U.S. and were nationally
representative of the U.S. Data in this release was collected as
part of Wave 2 and was not reported in MetLife’s 21st Annual U.S.
Employee Benefit Trends Study.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates (“MetLife”), is one of the world’s leading financial
services companies, providing insurance, annuities, employee
benefits and asset management to help individual and institutional
customers build a more confident future. Founded in 1868, MetLife
has operations in more than 40 markets globally and holds leading
positions in the United States, Japan, Latin America, Asia, Europe,
and the Middle East. For more information, visit
www.metlife.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240111748152/en/
Media: Liz Harish 212-578-6809 elizabeth.harish@metlife.com
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