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Gen Z Workers Require 'Modernized' Health and Other Benefits

Article-Gen Z Workers Require 'Modernized' Health and Other Benefits

Dmitriy Shironosov / Alamy Stock Photo Young construction worker male.jpg
Total rewards programs for these workers must "meet a broader range of needs” and be presented in “a contemporary way,” according to a recent report.

In the face of a growing and maturing Generation Z population, the total rewards strategies of many companies may be due for a revamp. Many benefits plans are “designed primarily for baby boomers and Generation X,” researchers in a EY and Limra joint study said.

“As younger generations form families, advance in their careers and accumulate assets, they will move into the industry’s historical sweet spot, with its focus on health insurance for dependents, retirement savings and other types of traditional benefits,” researchers said. 

Researchers also said total rewards programs “must be modernized to meet a broader range of needs” and presented in “a contemporary way.”

For more information from this report from our sister publication, HR Dive, click here.

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