Retaining Gen Z: The Need for Tailored, Modern Benefits Enrollment

As baby boomers retire in greater numbers, Generation Z is becoming an increasingly significant part of the workforce. Employers must adapt to this change by rethinking their approach to retention and benefits. Gen Z, the youngest generation in the workforce, is most familiar with digital-first experiences and expects this option in all aspects of their lives, including workplace benefits.

For independent agents, this shift presents a unique opportunity to guide employers in delivering personalized, year-round benefits experiences that resonate with the unique preferences of this emerging generation.

Understanding Gen Z's Expectations and Challenges

While members of Gen Z, also known as Zoomers, are tech-savvy, they are the least experienced in the workforce when it comes to selecting and utilizing benefits—a process that can often feel overwhelming.

Independent agents can help improve this experience by urging employers to offer tailored guidance and support year-round. Three-quarters of workers prefer ongoing access to benefits education rather than being restricted to the open enrollment period, according to a poll from The Hartford.

As Gen Z navigates young adulthood, they are laying the groundwork for their future careers, finances and personal lives. When major life changes happen, it's important that employees can easily assess which benefits are most relevant to them and make changes without hassle.

That's why employers must offer mobile-friendly benefits platforms that seamlessly work on any device, from laptops to smartphones. Providing intuitive tools to manage benefits will boost engagement, satisfaction and loyalty.

The Role of Independent Agents

Independent agents can assist small businesses in offering competitive, modern benefits that align with their budgets and appeal to younger generations. For Gen Z workers, who place a high value on work-life balance—77% of Gen Z job applicants consider work-life balance crucial when considering job opportunities, according to a study by McKinsey—benefits packages must reflect this priority. These packages should support their need for flexibility, including the ability to travel, take mental health days and care for their families.

By embracing benefits administration platforms, agents can help employers meet these needs via benefits that support these values.

Here are some of the advantages agents should look for in a benefits administration platform to help their benefits clients retain Gen Z workers:

• Plan comparison and proposals. Agents should be able to easily compare plans from different providers, evaluating cost, coverage options and provider ratings side by side.
• Streamlined enrollment. Automation within these platforms reduces manual effort and errors, making the enrollment process smoother and more efficient.
• Personalized benefits recommendations. Tailored suggestions that align with individual needs can boost engagement among Gen Z employees. Gen Z, accustomed to personalized experiences, demands the same level of customization regarding their benefits.
• Accessible health resources. Benefits platforms that provide accessible health resources contribute to employees' physical and mental health. A healthier workforce is more engaged, productive and sustainable.

As Gen Z continues to shape the workforce, employers who adapt to these shifting expectations will be positioned to build and retain a strong team. By leveraging modern benefits administration platforms, agents can help employers create personalized, simplified benefits experiences that align with the unique needs of this rising generation.