Advice for Employers for Recruiting and Retaining the Workers of Generation Z
(BPT) - The U.S. workforce is in the midst of an influx with 65 million workers from Generation Z beginning to look for jobs, according to BridgeWorks Consulting. This group of workers, born after 1997, do not remember a time without the internet and have grown up in a post-2008 recession era of financial responsibility, meaning what motivates them differs greatly from previous generations.
The combination of Gen Zers’ financially savvy, entrepreneurial spirit and their deeply rooted relationship with technology means employers need to reassess and diversify the ways they interact with and what they offer candidates. This also creates challenges in identifying the groups’ reason for choosing a field or job, placing the pressure on the hiring business or brand to stand out as an attractive experience.
“With this generation, the onus is on employers to learn how to relate to and attract their next employees,” said Kristen Wahl, director of the EcoCAR Mobility Challenge, the current Advanced Vehicle Technology Competition sponsored by the U.S. Department of Energy, General Motors and MathWorks.
EcoCAR’s recent study of college students participating in the competition revealed two key insights that translate across industries and may help employers of all types better understand who their co-workers and employees of the future will be.
Tech is integral to all aspects of their lives
Gen Z hasn’t known a time without access to infinite information at their fingertips as smartphones debuted when many were infants. Easy access to information has allowed Gen Zers to be curious learners and interact with companies and brands much earlier than generations past.
The study shows job seekers are likely to engage with online articles (62 percent) and videos (61 percent) along with other content on social media, which can be a great starting point for hiring companies to build their relationship with the Gen Z workforce. These insights apply to all companies — from large national companies to local small businesses — and are easily attainable through a variety of online channels.
“Our insights show interaction between Gen Z and employers must start before the next hiring cycle or career fairs,” said Wahl. “Employers of all sizes should be aware how their future employees interact with their brand before they are looking to hire.”
Personal and career growth are imperative
Gen Zers are seen as self-starters that take pride and responsibility for their own career paths with 76 percent believing they are culpable for driving their own career trajectory and 42 percent with hopes of self-employment, according to Concordia University-St. Paul. The entrepreneurial work ethic and concerns of financial security can explain the emphasis placed on professional and personal growth. Our research shows young job seekers agree on the importance of career advancement opportunities (98 percent), competitive wages (97 percent) and personal learning and development opportunities (96 percent). Regardless of industry or job-level, Gen Zers see a link between personal and professional growth and seek employers who share that thinking.
“Employers who can reach prospective job seekers early in their process and then deliver a fulfilling day-to-day experience with proper compensation will be prepared to both attract and retain the incoming wave of young workers,” said Wahl.
A lackadaisical approach to benefits enrollment could leave you short on coverage or end up costing you more than it should. Gathering information and making time to thoroughly consider your options and needs can help ensure you’re getting the best value from your employer’s benefits package. Approach this year’s open enrollment with these tips in mind.
Get the Most Out of Your Benefits Enrollment
(Family Features) A lackadaisical approach to benefits enrollment could leave you short on coverage or end up costing you more than it should. Gathering information and making time to thoroughly consider your options and needs can help ensure you’re getting the best value from your employer’s benefits package.
Approach this year’s open enrollment with these tips from the experts at Colonial Life in mind:
Take life changes into account. A major event like a birth or marriage makes you eligible to adjust your benefits between enrollment periods, but there are many other factors that may affect your coverage needs. For example, you may not bother with dental coverage for a newborn, but once that child has some teeth and is mobile, it’s a good idea to add coverage in the event a fall damages a tooth.
Be conscious of changes. It’s quite common to allow your benefits to renew automatically when the enrollment period rolls around. This can create problems as plans and coverages often change from year to year. Deductible amounts, office visit co-pays and even categories of coverage can shift from one year to the next. Even if there aren’t changes to the coverage, there may be a new pricing structure or additions to coverage that could benefit you.
Dedicate some time. When signing up for benefits for the first time, most people spend at least a little time reviewing each plan option. If you have your premiums deducted from your paycheck automatically, you probably don’t give a lot of thought to your benefits, especially if you’re relatively healthy. Open enrollment is the time to give them more than a passing thought.
A survey by Colonial Life showed 69% of employees spend less than 60 minutes learning about their benefits choices, but that limited time commitment can ultimately affect overall job satisfaction.
“This can be a huge problem for both employees and their employers, because a lack of engagement with the benefits program leads to lower morale and higher turnover,” said Steven Johnson, vice president of enrollment solutions at Colonial Life.
Instead of a cursory flip through the materials, dedicate some time to thoroughly review all the information and make notes about areas you have questions.
Discuss your options. Benefits can be complicated, and there are a lot of terms and jargon in the insurance world that can make it hard to understand exactly what your benefits will cover. That’s why it’s a good idea to sit down with a knowledgeable benefits counselor to discuss your family and personal financial situation.
Technology may be king for many aspects of life, but the survey found just 11% of employees name the internet as the place they turn to learn about benefits during enrollment each year. However, 76% of employees turn to humans including HR professionals, coworkers, family and friends.
There isn’t a one-size-fits-all solution for benefits, but a one-on-one counseling session can help simplify the entire benefits process. A private consultation may help you understand how each benefit election impacts your paycheck, as well as simplifying complex benefit concepts, answering your questions and walking you through the enrollment process.
Learn more about how to maximize your benefits at ColonialLife.com.
To gain a better understanding of your benefits, these definitions from HealthCare.gov can help you identify and recognize some common terms.
Benefits: The health care items or services covered under a health insurance plan.
Coinsurance: The percentage of costs of a covered health care service you pay (20%, for example) after you’ve paid your deductible.
Copayment: A fixed amount ($20, for example) you pay for a covered health care service after you’ve paid your deductible.
Deductible: The amount you pay for covered health care services before your insurance plan starts to pay.
Flexible Spending Account: An arrangement through your employer that lets you pay for out-of-pocket medical expenses with tax-free dollars.
Health Savings Account: A type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses.
Network: The facilities, providers and suppliers your health insurer or plan has contracted with to provide health care services.
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To the delight of animal lovers everywhere, awareness of the physical, mental and emotional toll taken by stress is leading progressive employers to create take-your-pet-to-work programs.
(BPT) - If you’ve ever felt tense, anxious or simply unable to relax while performing your job, you’re far from alone.
A recent survey by the American Institute of Stress found 80 percent of U.S. workers across industries have felt stress in the workplace; nearly half say they could use help dealing with it and 42 percent said their co-workers could use some relief.
To the delight of animal lovers everywhere, awareness of the physical, mental and emotional toll taken by stress is leading progressive employers to create take-your-pet-to-work programs. For example, for the past 20 years Purina has encouraged its associates to bring their pets to work, and in a typical week hundreds of dogs and cats enjoy spending time with their owners at the pet food maker’s St. Louis campus.
"Pets bring a wealth of benefits — both physical and emotional — to pet owners and their families, so it's no surprise those same benefits also apply to the workplace and employees," notes Dr. Kurt Venator, Purina's chief veterinary officer. "Whether a pet helps provide a calming sense during a challenging situation or encourages employees to take a walk during their lunch break, here at Purina we experience the benefits of pets at work every day, and want others to as well."
As more and more companies adopt a pets-at-work policy, consider these facts based on a recent Purina report about the many advantages of such programs:
* They can benefit health: Pet-employee interaction has been shown to reduce the employees' blood pressure and cholesterol levels in addition to alleviating anxiety.
* They can improve employee retention: Sixty-three percent of employees in pet-friendly workplaces say they’re very satisfied with their work environments — nearly twice as many as those in other workplaces. In fact, respondents rank the option of bringing pets at work as the second most-valuable employee perk — more valuable than free coffee and parking. Overall, three in five survey participants wish their workplace would institute a pet-friendly policy.
* They can alleviate loneliness: Eight in 10 employees who can bring pets to work say that activity makes them feel more happy, relaxed and sociable. That's partly because talking about pets can be an ice breaker, making it easier for people to approach co-workers and get to know them better.
* They can promote physical activity: Many employees spend breaks and lunchtime playing with their pets or taking them for walks, boosting their own aerobic activity at the same time.
* They can increase pets’ happiness: Rather than staying home waiting for their owners to arrive, pets get to socialize with new people, play with other pets and enjoy more activity. Nearly nine of 10 people in the survey agree that bringing their pets to work strengthens owner-pet bonding.
In light of the proven benefits, Purina encourages other employers to consider allowing pets in the workplace. A toolkit with tips and information is provided at Purina.com.
“Our goal with our report is to continue to raise awareness of the benefits of taking pets to work and to arm employees and employers with insights that can help facilitate pet-friendly environments within their companies,” notes Dr. Venator.
Despite societal stereotypes that suggest female relationships encourage anxiety, pressure and judgment, it has been found that women can have a positive impact on other women as an engine for ambition. These tips can help support women aspiring to have “it all” be the best versions of themselves.
How women can inspire other women
(Family Features) Having “it all” is a concept women have discussed and aspired to attain for nearly 40 years. Still, the conversation continues because no one has determined what having it all actually means.
A first-of-its-kind social experiment dug deeper into the choices women make in life and uncovered that female relationships often play a significant role. In collaboration with Dr. Emily Balcetis, Associate Professor of Psychology at New York University, Lean Cuisine asked women to define their “ideal life,” as part of the ItAll social experiment.
The experience explored how women answered questions alone versus in the presence of other women in their lives. The results showed that women help each other set a higher bar for themselves. In fact, 89 percent of women set more ambitious goals in the presence of other women.
Despite societal stereotypes that suggest female relationships encourage anxiety, pressure and judgment, this experiment determined that women have a positive impact on other women as an engine for ambition.
“We rarely talk about the positive power of female relationships that we saw firsthand in the ItAll experiment,” Balcetis said. “Women can encourage each other to shoot for more where it matters most, rather than working to accomplish something less fulfilling only because society says they should. Women have a truly unique way of inspiring each other to reach their own greatest potential.”
Balcetis offers these tips, which were observed during the ItAll social experiment, to support women aspiring to be the best versions of themselves:
Be a Role Model
For example, the ItAll experiment first surveyed female participants individually then allowed them to express their aspirations in the presence of familiar, influential women in their lives. Life choices became less conservative when others were involved. For example, participants declared a desire for higher salaries, chose to work more hours, wanted to spend more time with friends and be more involved with children.
Start a Conversation
Learn more about the social experiment and discover ideas to spur ambition for your own life at youtube.com/leancuisine.
Photo courtesy of Getty Images (women talking)SOURCE:
Although women are making strides in the corporate world, there is still work that can be done to level the landscape. If you’re looking for ways to promote change in your workplace, explore these five steps that can help build a work environment where everyone can advance and succeed.
5 Ways to Promote Gender Equality in the Workplace
(Family Features) Although women are making strides in the corporate world, there is still work that can be done to level the landscape.
Research from Catalyst, a global nonprofit focused on empowering and accelerating women in business, shows the needle is moving, albeit slowly. In nearly 10 years, the number of women in senior roles in the United States increased just 1 percent. At Standard & Poor's 500 index companies, overall women’s representation is far behind: 5.2 percent CEOs, 11 percent top earners and 26.5 percent senior-level officials and managers. Less than 5 percent of senior level positions are held by women of color. Men still lead more than 95 percent of the most powerful companies in the United States.
If you’re looking for ways to promote change in your workplace, explore these five steps that can help build a work environment where everyone can advance and succeed:
Engage in programs that celebrate women of color. Tap into resources that honor women in leadership and foster growth for aspiring women leaders from racially and ethically diverse backgrounds, such as those available through Catalyst. The nonprofit offers a host of ongoing workshops, programs, trainings and consulting services designed to promote inclusive workplaces, along with events around the world. For example, the “Catalyst Skyline Takeover,” which is a visual realization of the international business community’s commitment to greater diversity, inclusion and gender equality in workplaces around the world, features dozens of global companies “lighting up” their buildings with the female symbol.
Assess and formalize pay scales. As numerous studies indicate, wage disparity is one of the most obvious signs of inequality in the workplace. A fair pay scale outlines specific responsibilities and corresponding compensation rates, and can be applied to roles across the board regardless of race, gender or other potential discriminatory factors.
Ensure growth opportunities exist. Leveling the pay scale is an important step, but ensuring equal access to the positions at the higher end of that scale is an essential supporting move. Simply saying you’ll pay a woman the same as a man in the same job falls short if all candidates, regardless of gender, race or ethnicity are not given the same chance to compete for more senior positions.
Implement mentorship programs. Positive role models can give future leaders the vision to dream big and the guidance to make those dreams a reality. Putting aspiring women leaders in close contact with other women who have attained success in their field helps set a course toward achievement. It also helps men to advance and develop unbiased leadership. Since the majority of business leaders are currently men, change for women can only be accelerated if all those in leadership positions work together.
Support parental involvement. Historically, the issue of parenting and the workforce has been dominated by discussions around maternity leave policies, but more recently that dialogue has evolved. Men, too, desire more time with their families, and through equal parental leave policies, workplaces can allow women and men within all types of family structures to thrive in their careers and at home.
Find more resources and recommendations for promoting workplace equality at catalyst.org.
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What if rather than a hobby being your escape, it was what you did for a career? Here's how to make that dream a reality.
(BPT) - A beloved hobby can feel like a mini vacation from everyday life. Whether it's gardening for relaxation, photography as a creative outlet or computer coding to exercise the brain, hobbies serve as an escape from stress and boredom.
What if rather than a hobby being your escape, it was what you did for a career?
"When you do what you love, it doesn't feel like work. However, people are intimidated by the idea of transitioning a hobby into this type of dream," says Jim Salmon, vice president of business services at Navy Federal Credit Union. "Becoming a successful entrepreneur doesn't have to be difficult with the right drive and passion."
Navy Federal Business Services has helped thousands of people turn their dreams of owning a small business into reality by providing expert guidance and financial support through Business Services products. Here are some of Salmon's expert tips based on best practices he's observed through his close relationship with entrepreneurial clients:
1. Take your time.
Becoming a successful entrepreneur doesn't mean you have to drop everything and devote all your time to starting a business. In fact, research shows the opposite: People who keep their day jobs while starting companies are a third less likely to fail than those who abandon their full time jobs. Instead, they're tinkering, researching and cautiously testing things out to see if their idea is a viable business venture and if there is a market for their product or service.
2. Set a timeline.
Is there a season where it would make sense to test out your business venture? Or perhaps there's a transitional time in your life where you'll be looking to open a new chapter. For example, transitioning your hobby into a viable business venture a great option for active duty military personnel and veterans because they naturally begin to think about what their second career will be after retiring or leaving the Armed Forces.
3. Decide on time commitment.
Decide how much time you are willing to dedicate to your new venture in the beginning. Being an entrepreneur means being your own boss which affords you unprecedented flexibility, but the effort you put in directly effects what you get out. Keep in mind, entrepreneurship isn't just for full-time professionals. Turning a hobby into a career is a great option for military and stay-at-home parents who require flexibility in regards to working hours and location, but they may have more open time to dedicate to the transition.
4. Create a business plan.
Transitioning a hobby into a profession is a lot of fun, but it's also serious business if you want to be successful. That means creating a business plan that includes goals and plans for attaining them. This will serve as the foundation for how you strategize and build a successful business today. Plus, when it comes time to finance your budding business, a solid business plan will give you a leg up and direction for the future.
5. Find financial backing.
Depending on what type of business you want to pursue, you may need some additional funding beyond what you can afford. Establishing a relationship with a financial institution like Navy Federal Credit Union will help you learn more about small business loans and lending products that will help your small business grow. Bring your passion and your business plan - potential investors and financial institutions alike will want to see both before they make a decision.
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