Clearly, engaging and empowering employees, particularly Gen Z workers, is both a productive and cost-effective practice. Here are several tips to help build your acquisition and retention strategy:

Know who is "quietly quitting" – Well before an employee turns in a resignation, they have disengaged at work. A whopping 55% of employees born after 1989 are not engaged, according to Gallup research. This results in lost productivity and can even become contagious among other workers. Check in with your employees regularly, at least once per week. Listen for younger workers' stress struggles. Train managers on how to recognize anxiety and abnormal stress clues, and how to empathize and look for solutions. Consider performing "stay interviews" – discussions with employees before they submit their resignation about what's on their mind, what's making them happy, and what may not be making them happy.

Underscore purpose and individual value – Every worker wants to know their daily contribution to the business is important and valuable toward reaching success. But when is the last time you shared that with your junior staff? Do you know what it is they want most to accomplish in their career goals? Discuss with them why they are singularly appreciated and necessary to help ensure your company meets its goals. A shared mission and vision can help grow and sustain engagement, especially when assignments may seem repetitive or cumbersome.

Recognize small wins that lead to big wins – Identify and (appropriately) praise solid work accomplishments as well as big project completions. Office recognition, awards and even bonuses when possible are wonderful tools to compensate employees who produce outstanding work. But regular words of affirmation also can go a long way in keeping workers satisfied on the job, particularly with duties and tasks that do not lead to big payoffs. Point out to Gen Zers what behaviors and values you are witnessing and how much they're appreciated, particularly by senior leadership.

Offer more career management – At a time when turnover remains high, employers should try to help younger employees identify and invest in their best careers. Ninety-four percent of employees would stay at a job longer if it offered career development, including platforms for training, webinars, educational materials, and roadmaps for how to qualify for advancing from one position to another, higher one. This is something all employees would benefit from, but primarily younger ones at the beginning of their careers. Solid professional training can foster increased company value as the workforce continues to be updated and refreshed with latest industry practices and technologies.

Invest in financial wellness services for your employees – Financial stress is the leading complaint among U.S. employees of all generations, but particularly among Generation Z workers. Eighty-one percent of U.S. Gen Z adults consider money their biggest stress factor. With inflation surpassing 8% and average merit increases wedged between 2-3%, these employees now expect their employer to offer financial voluntary benefits that help support the practical needs of personal financial management.

Employer response to this demand is already beginning to take root. The Purchasing Power State of Employee Finances: 2022 Report shows employers have begun to heed this call with new voluntary benefits offerings that provide useful financial support. They include:

Employee purchase program (21%)
Financial counseling (20%)
Medical deductible financing (18%)
Bill payment programs (17%)

Benefit Brokers presenting a full menu of financial wellness voluntary benefits can serve as a lifeline to employers looking to appeal to and retain their most sensitive employee base. As valued consultants and counselors to HR leaders, their recommendations can transform a benefits portfolio to meet critical needs while significantly changing the lives of those on the payroll.

Instant Insights /

Retaining and recruiting Gen Z workers

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