what do different generations actually want in a job offer?

As an employer, it can be difficult to build a strong job offer that meets the needs of candidates from all generations. After all, workers from these various generations are at different stages in life, and therefore have different needs, expectations and career goals.

For example, younger workers who haven’t started to build a family yet are likely to be more concerned about job growth and building a career. Older workers, on the other hand, are concerned about saving for retirement and losing their job to automation. These differences in life stages will also alter the types of benefits these workers want from their employers.

The important thing is for employers to understand these differences and to ensure that they incorporate elements from each generations’ list of workplace expectations into their benefits package.

how to build a multi-generational workforce

To better understand the demands of each generation, Randstad partnered with Ipsos to conduct a survey of more than 1,000 workers in both blue-collar and white-collar roles. We've broken these results down by generation to provide a clear understanding of workers’ expectations at all stages of life.

gen Z

Generation Z consists of workers aged 18 to 24. For many, they are just starting their careers and only beginning to understand what types of benefits are valuable to them. From our research, we have identified six specific types of benefits that these younger workers deem important.

basic benefits:

While generation Z workers are not quite as focused on basic benefits, such as health care and retirement planning, they still expect these benefits to be part of the overall job offer.

flexible work schedule:

Gen Z workers may not have the same level of responsibilities at home as those from older generations, but that doesn’t stop them from wanting flexible work schedules. The fact is that it’s not uncommon for workers from this generation to have side projects and hobbies they want to pursue, and having the flexibility to do so is significant to them.

training and career growth:

Since these employees are new to the workforce, it only makes sense that training and career growth would be a top priority. These workers want to gain valuable experience and build skills that they can take with them to grow their careers.

leadership opportunities:

While Gen Z workers don’t enter the workforce expecting to be placed in leadership positions, they do want to know that the possibility to be promoted is available. Companies that have a comprehensive career advancement program in place are very desirable to workers in this generation.

social responsibility:

Workers from this generation are more socially aware than perhaps any generation to date. In fact, this aspect is so critical to some Gen Z workers that they will actively seek out employers with a solid record of displaying social responsibility.

diversity and equality:

Diversity and equality not just in the workplace, but in life, have become quite significant to those in the younger generation. These workers may decline to work for employers who don’t have a strong record of diversity and inclusion in the workplace.

millennials

Millennials make up the largest percentage of the overall Canadian workforce. These workers, aged 25 to 40, are in the middle part of their careers. While career advancement is certainly valuable, many millennials are trying to balance their work responsibilities and taking care of their home and family. As you might expect, millennials' needs are quite different from Gen Zers. Our survey revealed five prime benefits millennials are looking for in a job offer.

basic benefits:

The pandemic has brought to light just how essential extra healthcare support is. Millennials, like many of their counterparts, are taking a closer look at the types of basic benefits, such as health care, life insurance and retirement savings, employers offer.

job security:

With millions of workers losing their job during the pandemic, it only makes sense that Millennials would prioritize job security. However, for these workers, many of whom are also raising a family, the need for a consistent paycheque is paramount.

childcare and workplace flexibility:

There’s no denying that many millennials faced the insurmountable challenge of trying to balance work responsibilities with caring for their children when the school shut down. Today, these workers want to know they have extra support, by means of childcare support or workplace flexibility, to handle any of these challenges in the future.

career and skills development:

Millennials are at the midpoint of their career. At this point, many have clear career goals and want to work for an employer who can help them reach these goals. These employees are looking for employers that offer skills development programs as well as career growth opportunities within the company.

diversity and equality:

The desire for diversity and equality in the workplace may not be as strong for millennials as it is for those in the Gen Z, but they still consider it an important part of the picture. This is especially true for women, who often feel that they don’t have access to the same opportunities as men.

gen x

Gen X workers, aged 41 to 55, are typically the most experienced and skilled employees in the workforce. Many employers rely on these employees to remain loyal to the company and to help train those of the younger generations. The pandemic, however, was tough on this generation and as a result, their expectations, especially concerning job security and health benefits, have become more valuable to them than perhaps ever before. According to our research, the following five benefits are of the utmost importance to Gen X workers.

general benefits:

Workers from Generation X are extremely particular as to what types of benefits employers offer. Since older workers were more at risk of COVID-19, many of these workers want improved healthcare benefits. They are also concerned about the type of retirement package employers offer.

job security:

Job security is a crucial benefit for Gen Xers. As millions of workers across Canada lost their jobs during the pandemic, it was these workers that had the most difficult time finding jobs that offered comparable benefits. Additionally, many of these workers lost their seniority in the workplace as they were forced to take jobs with another employer. These factors have made these workers leery to take on jobs with a company that isn’t financially stable.

health and wellness:

Gen X workers don’t just want a benefits package that includes healthcare options. They are also looking for specialty benefits regarding health and wellness, such as gym memberships, mental health counseling and access to financial planning tools.

rewards and recognition:

All employees crave recognition for a job well done, but your long-term employees who stuck by the company throughout the pandemic deserve some extra recognition. Consider offering financial rewards or bonuses based on years of service to ensure these older workers understand how much the company values their service.

family care programs:

Many Gen X workers found themselves balancing both work responsibilities and family care disruptions, including both homeschooling their children and caring for their aging parents. Due to these challenges, today’s Gen Xers are actively seeking out employers who offer family care programs, such as paid family leave and childcare support.

To improve the overall hiring and retention rate, employers must build a strong compensation and benefits package that is attractive to these generations.