Retaining top talents is not just a numbers game. It takes more than a good paycheck to keep valuable team members in today’s job market. This is especially important when considering Gen Z, as our youngest generation enters the workforce. There are many different ways that employers can create a positive and magnetic working experience.
Gen Z is passionate about work-life balance and the more “intangible” benefits of working in addition to simple compensation and fulfilling work tasks. When your goal is retaining top talents, it’s important to consider the full scope of their working environment and perks. You can build a work environment that keeps people happy and increase non-pay incentives by understanding the perks that your employees value most.
Let’s explore ten important ways to keep your Gen Z workforce happy.
Paid Time Off (PTO) is an important part of retaining top talents and any employment package or reward scheme. You don’t have to increase an employee’s rate of pay to provide a little extra for the work they do. PTO represents days off of work paid at the full rate of a working day. Paid sick days or vacation days allow an employee to spend time away from work without impacting their monthly finances.
Many employers offer a set number of PTO days. However, you can also provide bonus PTO as a reward for performance and achievements.
Flexible work schedules and conditions have become green-flag signals for good employers. Many professionals look for employers who offer flexibility even if they plan to work 9-5 in the office. This is because flexible policies represent an adaptive nature. Flexible employers can build a strong team from far-flung remote workers, allow hybrid work when conditions change, accommodate disabilities, and are more likely to be understanding when personal emergencies or changes in circumstance occur.
Flexibility is closely linked to employee happiness because the company can adapt to whatever employees need to be both happy and productive. Technology has made it possible to work from anywhere and communicate in many different ways. Therefore, a flexible workplace offers a more enriching set of possibilities that align better with employees’ working styles and situations.
Every job can be weighed by its benefits. These can be both tangible benefits (ex: insurance) or intangible benefits (ex: a comfy break room). Employment benefits make up part of your contractual compensation. This means that some amount of pay raise can be replaced with better benefits options. Voluntary benefits, however, are where many employers now shine. Flexible benefits programs allow employees to personalize the benefits they receive, balancing their pay and opportunities with things like gym memberships, meal plans, financial consultations, investments, and adaptive health benefits.
By offering additional benefits, you can help employees live better lives without necessarily increasing their pay.
Of course, if there’s one thing that everybody wants, it’s to have fun at work. Workplace fun is also an important aspect when it comes to retaining top talents. A fun, lighthearted, and enjoyably productive workplace is a gem that can inspire long-term loyalty among talented professionals. Creating a fun workplace and supplying opportunities for fun between projects can help to reduce workplace stress, build stronger teams, and provide an incentive for your people to stay even when great labor upheavals occur in the industry.
Millennials and Gen Z professionals also highly value jobs that offer a sense of purpose. They want to feel that their work is meaningful and that they are making a positive difference for the company, the community, or the world. Purpose may be an intangible benefit, but it can be powerful.
There are many ways that employers can provide a sense of purpose when retaining top talents. Listening and responding to feedback and showing employees how their work positively influences the company can provide meaning within the context of the job. Employers can also take on projects that benefit the community or connect employees to charity programs that make a difference.
6. Work-Life Balance
Since the pandemic, work-life balance has taken the spotlight and many people are ready to walk away from a job that does not respect their time and their overall health. You can create an environment with a positive work-life balance by helping employees build healthy schedules and respecting those schedules. Avoiding off-shift messaging, approving requests for personal time, and offering a supportive balance of benefits are all ways to provide both tangible and intangible benefits of work-life balance.
7. Personal Growth and Professional Development
One of the best ways for employers to start retaining top talents and keeping their employees engaged is through personal growth opportunities. Employees want to know that they can learn and grow in their current role, or they will look for new opportunities.
Benefits that offer personal growth like fitness, meditation, and skill-training classes help employees develop themselves outside of work. But professional development like certifications and cross-training can be just as important. Not to mention, the potential for a valuable internal hire when they have learned and displayed new skills worthy of a promotion.
8. Empowerment and Freedom
The freedom to work autonomously is an intangible benefit that today’s professionals value a great deal. When a company trusts its employees to do their jobs, innovation occurs. When micromanagement is removed, so too is stress. And when feedback is used, employees feel more connected to the company. One important skill for managers is the ability to say “Yes”. Adopting a “Yes Day” attitude is a great way to empower your employees to improve their own productivity, workflow, and employee happiness.
Employees who experience empowerment and freedom can seek their solutions and feel more like an asset to the company.
Another important aspect when it comes to retaining top talents is giving proper employee recognition and appreciation. Everyone likes to know that they’re doing a good job. Employees who receive recognition and praise will often stay even when a pay raise is further in the future. Develop an employee recognition program and ensure that every team member has a chance to receive praise, spotlight attention, and a growing connection with their team when they perform well.
10. Social Interaction
Lastly, many young professionals become invested in their jobs when they have work friends. Social interactions are an essential part of building a strong team and even inter-team cooperation.
Provide open communication channels and schedule time for employees to chat to create the foundations of workplace friendships. Encourage friendly collaboration and allow natural synergy between team members to boost productivity whenever possible. Employees will become loyal to their team, pulling together to overcome challenges and choosing to remain with the company to maintain their social circle.
Inspiring Satisfaction and Employee Retention for Gen Z Talent
Generation Z is bringing inspiration back into the workforce. They are a passionate and idealistic new generation of professionals and they want employers who strive for the same goals and fulfillment as they do. Approach hiring and employee satisfaction with a holistic perspective and you are more likely to attract, delight, and keep Gen Z professionals on your team.
BrightR can help you expand your business and policies to new horizons as an Employer of Record for remote Canadian team members. From the most talented Gen Zs to the most experienced leaders and everything in between, remote and international flexibility will make it possible to embrace the possibilities of a new generation of technology and business practices.