Unlike previous generations, Gen Z place a premium on flexibility – both in how they work and the benefits they receive. In fact, a significant 75% of Gen Z employees indicate that workplace flexibility is their most desired employee benefit. Born between 1997 and 2012, and known for their digital fluency and values-driven mindset, this group aren’t just looking for jobs; they’re seeking workplaces that align with their lifestyle and priorities. From mental health support to personalised perks, Gen Z demand benefits that reflect the realities of a dynamic, fast-paced world. So, what does this mean for employers striving to attract and retain this influential generation? The importance of flexibilityGen Z desire flexibility but that means more than just remote work; it encompasses a broader range of options, including flexible hours and hybrid work environments. Unlike previous generations that often prioritised job security and salary, Gen Z is more focused on achieving a sustainable work-life balance. In fact, according to the Randstad 2022 Workmonitor report, 36% of Gen Z workers have quit a job because it didn’t provide enough flexibility.Flexibility allows Gen Z to tailor their work schedules to fit personal commitments and mental health needs. A report from Benify highlights that paid leave and flexible working hours score highly in importance for this demographic, with an average rating of 7.85 out of 10. This indicates a strong preference for autonomy over their work conditions, which they believe is essential for maintaining productivity and personal wellbeing.They watched older generations burn outGen Z's approach to work is heavily influenced by their understanding of the importance of mental health and work-life balance. A Deloitte study found that nearly half of Gen Z respondents reported feeling stressed all or most of the time. This awareness stems from observing the burnout experienced by older generations, which has led them to prioritise roles that offer supportive environments and flexibility. As an employer, taking the initiative in establishing boundaries around working hours promotes the ethos of workers’ autonomy, which is key to attracting this generation’s talent.The concept of ‘lazy girl jobs' has emerged among Gen Z as a reflection of their desire for positions that are less demanding yet financially rewarding. These roles allow them to engage in meaningful work without sacrificing personal time or mental health. As such, employers that promote a culture of work-life balance are more likely to attract and retain this talent, as are companies that celebrate the idea of quality over quantity; where the work itself matters more than the number of hours clocked.Pension plans and financial securityContrary to stereotypes that portray Gen Z as carefree spenders, this generation is notably pragmatic about financial security. They are saving for retirement at rates significantly higher than previous generations did at the same age – 32% more than young workers in 2006, according to Vanguard. About 65% of Gen Z workers would not accept a job without retirement benefits, showcasing their long-term thinking regarding financial stability.Employers can appeal to this need by offering comprehensive benefits: Critical Illness, Income Protection and Life Insurance don’t exclusively appeal to older generations: they enhance everyone’s sense of security and satisfaction at work. Mental health supportUnderstanding that maintaining good mental health is just as essential as physical healthcare, Gen Z are more likely than previous generations to seek jobs that offer mental health benefits such as counselling services and mental health days. A survey conducted by Firstup revealed that benefits promoting wellbeing – such as community-building activities – are essential for attracting this generation.The prevalence of stress among Gen Z is alarming; studies show that 46% regularly feel overwhelmed. Therefore, companies must prioritise mental health initiatives alongside traditional benefits to create a supportive work environment where employees feel valued and understood – and the preventative approach that employee benefits solutions like YuLife provide, can practically support that goal. Let’s not just provide a ‘band-aid’ for when it’s too late: let’s get our employees to take better care of their health and prevent negative consequences. Attracting and retaining talentIn an increasingly competitive job market, organisations must adapt to meet the evolving expectations of Gen Z employees. Ultimately, companies who understand that Gen Z do not regard work as something that should outweigh all other aspects of life, are more likely to attract top talent from this age group. Flexible working is just a small part of this, marking a cultural shift in attitude towards the role of work within someone’s life. A hybrid model allows employees to choose where they work based on their productivity preferences — a report from ExtensisHR indicates that 87% of Gen Z believe the benefits of working from home outweigh being on-site full-time. Moreover, 94% would avoid jobs requiring them to be in-office full-time. But then how do you provide the employee benefits that support people’s wellbeing in these remote working setups? Again, that connects to a conversation about the medium through which you deploy your employee benefits and drive how they are utilised. Is the answer an employee benefits app? Additionally, promoting policies that encourage employees to disconnect after hours can help mitigate feelings of burnout—a concern particularly prevalent among younger workers who often feel pressure to remain available outside traditional working hours. You can read more about presenteeism and the burnout consequences in our Anti-burnout ebook. As Gen Z continues to shape the workforce landscape, employers who understand and adapt to their needs will not only attract top talent but also foster an engaged and productive workforce. By prioritising flexibility, work-life balance, mental health support, and financial security, companies can create environments where Gen Z employees thrive, both personally and professionally.In summary, flexibility in workplace benefits is not just a trend; it is a fundamental shift in how new generations view employment. Organisations must take proactive steps to align with these values if they wish to remain competitive in attracting the next wave of talent.About YuLifeYuLife is working to reimagine the insurance industry by protecting lives, rewarding living and inspiring life. We’re on a mission to transform traditional insurance into a life-enhancing experience each employee will value and use daily. How does it work?Our award-winning app uses behavioural science and game mechanics to reward your people for living well while offering protection in case of crisis. And with our top-rated employee assistance programme, your team gets access to mental, financial and social support, virtual GPs, nutritionists, life coaches and more to help them live their best lives.Because we believe that your employees should benefit from their insurance from day one — and that wellbeing should be accessible every day, for everyone.Request a demo for your team today.