New Model Reward Research: Five generations in the workplace shifts the dial on benefits choices
A one-size fits all benefits package is a thing of the past with multi-generational workforces now requiring benefits packages that suit their individual needs, according to a new report published by REBA in association with JLT Employee Benefits.
The New Model Reward 2017 research shows that one in five businesses (20.8%) said that they need to improve benefits for Generation Z employees thanks to their influx into the workforce.
And similarly, the trend of an ageing workforce is having an effect too with 14.2% reporting a need to improve benefits for older workers.
“Employers are increasingly having to tailor their rewards offering to a much wider variety of needs, depending of the life stage of the employee concerned,” said Debi O’Donovan, director at REBA.
“For younger employees that’s about help with saving for a deposit to buy a property whilst for older workers it’s about offering a range of pension options as they near retirement.”
Download the full 46-page PDF report here: New Model Reward research 2017. REBA members access the research for free.
For further in-depth discussion of this topic with senior HR and reward professionals, sign up for REBA's Reward Leaders' Forum on 27 April 2017. REBA Members can attend for free.
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