Next-gen job perks: Ready for the future of job benefits?

It might be time to start reimagining your job perks

Two people are sitting down together in an office, looking at a computer screen. One of them is pointing at the screen and speaking to the other worker.

The workforce is becoming increasingly diverse, with a broader range of individuals joining the labor market. The growing representation of Gen Z, new parents, and older workers signals the need for employers to adapt their strategies and offer enticing job perks that cater to these different groups' unique needs and desires. Gen-Z employees, for example, have clearly shown they value opportunities for professional growth, work-life balance, and a meaningful career. Employers can use this knowledge to tailor job perks to the expectations of young workers at their organization. In the long term, this creates a more supportive work environment, ultimately attracting and retaining better talent.

Stints and sabbaticals

In 2023, the allure of sabbaticals as a job perk continues to grow, particularly among millennials and Gen Zers who value travel and life experiences outside of work. These extended career breaks allow employees to recharge, pursue passion projects, or explore new cultures, ultimately returning to their jobs with newfound inspiration and energy. Companies like Adobe and Patagonia are leading by example, offering sabbatical programs that result in increased innovation and improved teamwork.

The US is considered one of the worst countries on earth for paid leave, ranking only behind Micronesia. By offering sabbaticals, your organization can demonstrate a commitment to work-life balance, employee well-being, and personal development in a labor market that severely underdelivers on rest and relaxation.

Daycare for parents

In the near future, it may become commonplace for employees to take their parents to company-sponsored care facilities as part of their daily routine. With the growing demand for on-site care centers and new businesses seeking to address this need, support for elderly care is gaining momentum in the workplace.

Studies show that 53% of employees aged 40-49 have caregiving responsibilities for an adult. In response to this trend, companies are searching for innovative solutions to assist employees beyond providing leave or financial allowances. Nevertheless, the anticipated scarcity of caregivers in the future could exacerbate the situation, with a predicted global shortage of tens of millions of caregivers driven by a sharp drop in birth rates in practically all developed nations.

Hyper-personalized benefits

Employers are only recently recognizing the value of catering to the diverse needs of their employees by offering personalized benefits. Remote workforces are on the rise, with studies estimating that 22% of the US workforce will be completely remote by 2025. This highlights the need to accommodate various demographics and locations through customized benefits packages that provide targeted support to individual employees based on their unique circumstances.

This tailored approach to perks and benefits not only fosters employee satisfaction but also helps attract and retain top talent in an increasingly competitive market. By demonstrating a genuine commitment to understanding and addressing the specific needs of their employees, companies can cultivate a more engaged, loyal, and productive workforce in the long run.

Onsite counselor

The pandemic shed light on the critical importance of mental health in the workforce, as countless employees grappled with stress and burnout amidst unprecedented challenges. Even after the pandemic, 49% of employees say they’re concerned about burnout at work, according to Adecco research.

In order to stay on top of this issue, employers are seeking innovative ways to support employee well-being, including offering in-person, onsite counseling services with therapists or coaches. By providing easy access to mental health professionals within the workplace, companies can address issues proactively, helping employees maintain emotional balance and resilience.

Post-parental leave

Traditional parental leave policies could be on the way out as employers reevaluate the needs of working parents. More employers are offering transitional periods at the end of paid parental leave, enabling employees to gradually ease back into their roles with increased flexibility. Other initiatives include training courses to improve a back-to-work transition and a reduction in work hours with no salary cuts.

This approach helps new parents readjust to the workplace while managing the ongoing demands of parenthood. In addition, companies are increasingly extending parental leave benefits to fathers, who have historically been overlooked and discriminated against through inadequate policies. By recognizing the importance of equal parental responsibilities and support, employers can foster a fairer workplace culture, which ultimately benefits the entire workforce and contributes to talent attraction and retention efforts.

Adecco is dedicated to helping companies like yours navigate the changing talent landscape. We can help prepare for the future while retaining and attracting the best talent in your local market. To learn more about how we can help your company thrive, contact us today.

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