What Do Young Workers Search for in Their Benefits from Their Employers?

The motivations behind providing employee benefits remain the same as they were ago. However, the needs of employees have changed because it is an alternative and option for employers to pick from when implementing the employee benefits plan.

Different Generations, Different Points of Perspective

The older generation gets taught to keep their heads down and put in the hours. If you weren’t at work or at least available daily, you didn’t earn the promotion you wanted. And you didn’t deserve it! Only those who have thrown work-life balance away could be ahead.

Youth workers are also inclined to have a distinct perspective on the job of their employers. Instead of seeing them as a source of authority and a savior with no work or security, they see them as strategic allies within their own lives.

In addition, they are in different stages of their lives and have other priorities. While the older generation might prefer a Critical Illness insurance policy, younger workers seek benefits to aid their overall wellness goals.

Employee Benefits for Young Workers

1: Financial Planning and Financial Advice

Giving young workers financial benefits is an enormous draw. It is not just for those who struggle to pay back their student loans but also for those looking to save for the future or just trying to get through the day with a start-up salary. In addition, there has been a recent increase in the rate of inflation. Employers can offer the following assistance:

  • Webinars and financial resources
  • Group Retirement Solutions
  • A Group Registered Retirement Savings Plan match
  • Tuition loan repayment support

2: Flexible Work Policies

Young workers appreciate the ability to work at the time they prefer, when they want, and how and where they like. You should think about adopting flexible work policies and see whether you can allow flexibility within the areas below:

  • Work location
  • Times that work
  • How do they work
  • Performance-based

3: Professional Development

Employees of all ages profit from the opportunities for professional development. As does the business. It’s more than the on-the-job training that must be ongoing. Giving employees a chance to learn new skills will result in more seasoned and valuable workers. Plus, they’ll remain loyal to you and your company.

Create an official professional development policy. It should include any PD limit on the amount of money. The document should also state whether you are allowed paid time to attend classes, study, or take exams. Bonuses could also get tied to PD objectives.

4: Paid Time Off

As we’ve mentioned before, younger workers value work-life balance. It means they are very dependent on Paying Time Off. Promoting holidays and not judging why employees use their time off goes far in creating confidence. It also shows that you care about their well-being.

  • Vacation
  • Personal/Paid Time Off
  • Volunteer Hours
  • Let the employee go home a few hours before an extended weekend.
  • Vacation incentive programs

5: Rewards and Activities That Promote Corporate Culture

Nothing is more important to the younger workforce than the company’s culture. Indeed, the company culture is now a significant research element when employees review a prospective employer. To keep your company’s culture alive, try changing the layout of your office to encourage collaboration. Do not have cubicles and doors to the office; think of an open concept, vibrant colors, and shapes for the flow of ideas.

The activities for team building can be an excellent way of bringing teams together. Consider the escape room, trivia games such as scavenger hunts, bowling twonie-toss, or any other game.

Participation in activities that raise awareness or money for charitable causes is an excellent method to demonstrate that the business can be socially accountable. It also gives employees an appreciation for giving when they take part. Additionally, the positive feelings created through sharing could increase the positive vibe of the workplace.

6: Wellness Programs

In terms of the health and wellness of employees, the young are the most involved. They also are to be a group with more mental health problems. To help those employees, employers could provide the following support:

  • The more resources for mental health depression, anxiety, and stress, the easier they find, and the more likely they’ll get utilized.
  • The Wellness Spending Account (WSA) is a flexible spending account that can get used for travel, fitness, hobbies, and other employer-approved expenses.
  • Employee Assistance Program (EAP) for every challenge in life includes legal and financial advice, elder and child care, addiction to substances, and domestic issues.
  • Healthy snacks and fresh fruit in the breakroom can help promote healthy eating habits at work.
  • Desks that stand or treadmills for physical fitness.

7: Inclusive Benefits

Let your workers know that all employees from different backgrounds, walks of life, orientations, and everything else are valued and accepted. Consider including these advantages:

  • Parental Leaves
  • Benefits of building a family
  • Pet Insurance
  • Gender Affirmation Coverage

Employee Benefits to Create an Inclusive Workplace

Employees are concerned about how they get treated. Employees are willing to voice their concerns about favorable or hostile working conditions. They also are concerned about how their company treats people environmentally and socially. The benefits mentioned above could attract these workers from the younger generation to your business. Call Ottawa Life Insurance at (613) 454-1424 or email us at info@ottawa-lifeinsurance.ca for further information.