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Thursday, December 7, 2023

For Gen Z, employers must help their employees manage their money

Every generation has its concerns. The so-called “Z generation” (which includes young people under the age of 25) have very specific expectations of their employers. In fact, according to a US survey conducted by Teachers Insurance and Annuity Association (TIAA), two-thirds of Gen Z respondents say employers have a responsibility to help their employees achieve and improve their well-being.

This expectation may be related to the last two years of the pandemic, which mainly affected young adults, especially from a financial point of view. Their demands and concerns about money are therefore no surprise and show a desire on the part of these young adults to escape the fate reserved for their elders.

Enjoy high financial well-being

In concrete terms, these young adults want to be able to access to programs focused on retirement, debt management, budgeting, emergency savings, and health care cost managementrelates to Business Insider Snezana Zlatar, Senior Managing Director of TIAA. Problem: One in two employers are not necessarily convinced that it is their job to provide such training.

However, according to the TIAA study, this type of training is very beneficial for the people who follow it. Employees who have participated in a special wellness program are twice as likely to have high levels of financial well-being (32%) than those who are not offered such resources or who do not participate (15%).

Do you want to recruit?

Listening to the needs of the next generations of employees is nevertheless very important, especially as generations Z and Y (also called “millennials”) seek jobs that are more in line with their values, but also want a better life balance between personal and professional, reports Business Insider† Faced with employers unable to meet their demand, some workers of generations Y and Z simply prefer… to quit their jobs.

In certain sectors where recruitment is becoming increasingly complex, for example in the hospitality industry, taking into account the demands of new entrants to the labor market could make it possible to attract young talent. An important win-win process.

john willhttps://receivinghelpdesk.com
John is a Gamer And A Writer By Heart. He Writes News Articles On Receivinghelpdesk And Also Specializes In Writing Tech and entertainment-related topics. He Loves Watching Movies And Shows. Definitely A Complete Extrovert.

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