According to the survey of 2,000 employees born between 1997-2004 (Generation Z), 79 per cent have considered leaving their employer, with one in five (21 per cent) doing so for a better benefits package. In fact, with a fifth of Gen Z workers revealing they don't have any choice when it comes to picking their benefits, businesses risk a talent exodus if the needs of their youngest employees are not met.
Fostering a culture of wellbeing
In particular, the majority of Gen Z employees are seeking greater wellbeing support from their employer. Three-quarters (75 per cent) want financial wellbeing support, while 70 per cent and 76 per cent want their organisation to help take care of their mental and physical health, respectively.
The results indicate employers must re-evaluate their reward and benefits offering to ensure they are providing wellbeing support and benefits that are highly prized by the newest entrants to the jobs market.
However, Perkbox is cautioning employers against viewing Gen Z as a homogenous group. Almost nine in 10 (87 per cent) Gen Z employees want their benefits to be tailored to them as an individual, while almost a fifth (18 per cent) would even move to a lower paying job in exchange for a greater variety of benefits.
In addition to craving greater wellbeing support, Gen Z employees are seeking a sense of community and strong working relationships, too.
In fact, they view networking and relationship building as critical to their ongoing development and satisfaction – 93 per cent of Gen Z employees believe their employer can do more to strengthen relationships across the business.
Meanwhile, a survey of 8,000 UK employees over age 16 conducted by Censuswide on behalf of healthcare charity Nuffield Health has found that two thirds (66 per cent) of adults would not feel comfortable raising a mental health or emotional wellbeing issue with their employer.