Kickresume, a leading AI career app, has released expert commentary on ‘benefitmaxxing’, the Gen Z trend that is influencing the workplace, along with tips for businesses and employees on workplace benefits.
The youngest generation of workers is demanding increased control and customised perks, and no longer accepting a one-size-fits-all approach. Gen Z recognise the importance of their benefits and are actively negotiating their packages to tailor to their needs and wants.
Recent research from Kickresume and HR consultant Jayne Murphy supports the shift from a one-size-fits-all approach, finding that employees are demanding flexible, tailored plans. According to the research, holiday allowance, career development opportunities, and flexible working are must-have benefits, while free snacks and company merchandise are the least wanted benefits.
Peter Duris, CEO and Co-founder of Kickresume, has prepared comments on ‘benefitmaxxing’, alongside the career app’s recent research and tips for businesses and employees.
“It’s interesting to see how our recent research alongside HR consultant Jayne Murphy supports the growing trend for ‘benefitmaxxing’ with an increased demand for flexible and customised employee benefits,” commented Peter Duris, CEO and Co-founder of Kickresume. “Businesses need to review their benefit offerings to make sure they’re in line with employee expectations, to both attract and retain talent. Companies that stick with traditional, rigid benefit plans might risk losing emerging Gen Z talent to competitors.”
Tips for businesses
- Enhance customisation:Offer a broad range of tiered benefits options, allow employees to opt in or out of appropriate choices, and enable them to allocate their own spending. Then, employees can create their own personalised benefit plans.
- Improve communication:Share benefits as they change with employees and send usage and enrollment reminders, making sure you communicate clearly without jargon.
- Analyse the data:Review which benefits are used and those which aren’t to inform benefit decisions. Also, gather employee feedback and take suggestions, while comparing your offering with competitors.
Tips for employees
- Understand your benefits: Before starting a new job, or once you are already an employee, research the details of the company’s benefit plan to understand exactly what’s included.
- Long-term benefits:Enrol for boosted pension or health plans, as well as training and development, for long-term security, taking advantage of salary sacrifice schemes that offer tax benefits.
- Negotiate your benefits:Before accepting a new job offer, remember you can negotiate your benefits, not just your salary. Compare the offering with other companies to ensure you’re getting a good deal, and don’t be afraid to negotiate for additional benefits that are important to you.