6 Tips for Ensuring Your Employee Benefits Appeal Across Generations

The workforce has recently made history – six generations are working for the first time ever. As an employer, it’s up to you to meet the needs of this multigenerational workforce. Not only do you need to do your best to provide a good working environment for your diverse set of employees, but you should also be thinking about adjusting your employee benefits to appeal to their different priorities. 

So, how do you do that? In this article, we’ll discuss some tips you can use to make sure that your employee benefits appeal across all generations.

The Multigenerational Workforce and the Importance of Inclusive Benefits

At the top of the multigenerational workforce, you have the Silent Generation, and at the bottom is Generation Alpha, who are coming out of high school eager to enter the workforce. In between are the Baby Boomers and Generations X, Y (millennials), and Z. Each of these generations has different priorities that reflect the times in which they came of age. For example, Generation Alpha is the first generation to grow up fully in the digital era. 

For the older generations, wellness programs and retirement plans might be at the forefront of their desires. For younger generations like Gen Z, it might look more like tuition reimbursement and flexible working arrangements. For those in the middle, family-oriented benefits like paid parental leave and childcare assistance are important. 

When you have inclusive benefits tailored to all generations, you’ll see more employee engagement and retention, improved creativity and innovation, and a stronger company reputation. Plus, you’ll be able to attract talent better than ever because you’ll show job candidates that you care and are willing to work to keep your employees happy.

6 Tips for Multigenerational Employee Benefits

Here are valuable tips that you can implement when creating your benefits package.

1. Look at Shared Interests

Just because multigenerational employees have significant differences doesn’t mean they don’t value some of the same things. For example, most agree that work-life balance is a must: According to iHire’s 2024 Talent Retention Report, 68.1% of candidates said their employer would be more likely to retain them if their company culture offered a commitment to a healthy work-life balance.

Whether it’s spending more time with family and friends or enjoying travel or hobbies, work-life balance improves well-being and job satisfaction, allowing employees to live fulfilling lives both inside and outside work. 

Another common interest between generations is the desire to succeed and advance. Try offering mentorship programs or continuous learning programs in your benefits package.

2. Include All Stages of Life in Your Core Benefits

The best employee benefits package includes benefits for all stages of life: 

• Young adulthood: For those just exiting college, benefits could include tuition assistance or reimbursement. 
• Adulthood: Financial planning and mortgage assistance are valued by many adults. 
• Parenting: Benefits for parents such as paid parental leave can help promote a better work/life balance and relieve financial stress.
• Caregiving: Supporting caregiving between generations with flexible schedules can help employees provide child and elder care. 
• Divorce or widowhood: Counseling, financial planning, legal advice, and support groups can help relieve stress for those going through difficult life situations. 
• Retirement: Retirement plans are important for all generations.
• Legacy giving: Just because your former employees are gone, doesn’t mean their impact has to be. Continue to support them through charitable donations. 

3. Use Clear and Simple Language

When writing out your benefits package, use straightforward, jargon-free language and explain each benefit thoroughly to avoid miscommunication and mistakes. Avoid excessive formality and use “you” and “we” to connect with your employees and encourage them to use their benefits. For example, not everyone will know what an EAP is, so break it down in the clearest way possible. Take the extra step of explaining how each benefit can make a difference in your employees’ lives.

4. Learn and Update Your Benefits

Your benefits don’t have to be set in stone. If what worked for you once is no longer effective, update your benefits to meet the needs of your current employees. And as your company grows and you hire new talent, you’ll learn more about what your employees would like to see from you. 

When you’re regularly reviewing and updating your benefits package, you’re showing your employees how committed you are to meeting their changing needs, which can boost job satisfaction and retention. 

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5. Prioritize Mental Health Benefits 

Mental health affects all age ranges and generations, so it’s important to include benefits supporting it in your package. This could range from employee assistance program components such as counseling services and stress management to offering mental health days.

Other ways to prioritize mental health include: 

• Wellness workshops on mental health topics like mindfulness and coping strategies
• Peer support programs, including groups that allow employees facing similar challenges to connect 
• Physical health programs, such as gym memberships or wellness challenges, which in turn boost mental health

Catering to mental health will help create a less stressful work environment for all generations. Your employees can come together and connect on deeper levels to find community and support as they face life’s challenges.

6. Ask Your Employees

If you’re looking for ideas for employee benefits, why not just ask your employees what they value?

You can do this in several ways. You can use data from brokers, conduct focus groups or listening tours, and distribute surveys. Use all forms of communication at your disposal, including emails, digital platforms, printed materials, and face-to-face meetings. Also, give your employees the chance to submit feedback anonymously so there’s no pressure or hidden biases. You can do this through a feedback box in the office or via an anonymous online survey. 

Show Your Commitment to a Better Workplace

As you tailor your benefits package to align with the multigenerational workforce, you show your investment in creating a supportive and inclusive workplace. This will make your employees feel appreciated and valued and create a positive working environment. For more guidance on employee benefits, hiring, retention, and everything in between, check out iHire’s employer resources.