Posted June 6, 2019
Generation Z workers are anxious about their financial future. Born after 1997 to present, they’ve grown up in a world of uncertainty. They have lived through 9-11, wars and the Great Recession. Now, as they start their working careers, they are looking for employers who will provide stability. Here’s how employers can help Gen Z employees with their financial fears.
“After watching millennials struggle with student loan debts, Gen Z is looking for other ways to grow and develop new knowledge and skills,” says Bruce Tulgan of RainmakerThinking. Employers interested in hiring talented Generation Z employees are wise to provide educational options. Many employers offer help through employee wellness and financial well-being programs.
Generation Z employees are not looking for long-term employment opportunities. But they will stay with an employer for several years, or longer if they have help with financial security.
“Gen Z is interested in STEM careers (science, technology, engineering, mathematics) where there is more job security,” Tulgan explains. “Starting in high school, they look for internships and jobs where they can gain experience in a STEM career area. Generation Z students are attending affordable colleges, so they don’t have heavy debts when they graduate.” Employers can help employees by offering tuition assistance and a student loan repayment benefit.
Employers also should provide benefits that support financial security. Many Gen Z employees receive insurance coverage through their parents. But they want to know they have access to good benefits if needed. Besides medical coverage, Gen Z wants access to dental and vision plans. They also like perks that help them be self-sufficient.
Learn more about how to engage Generation Z employees through a supportive culture that helps workers with financial fears by listening to a short podcast discussion with Bruce Tulgan.