Empowering Gen Z

The infographic "Empowering Gen Z: Harnessing Confidence with Targeted Benefits Support" provides insights from a Fidelity survey of over 3,700 Gen Z workers globally. It highlights the challenge employers face in retaining younger employees and offers valuable information on benefits strategies to support this group of workers.

Despite a strong sense of confidence about their long term goals, Gen Z workers often struggle with financial stress, which may impact concentration at work for some employees. Many are optimistic about achieving long-term financial goals, but inflation and healthcare costs remain significant concerns.

Gen Z's financial habits reveal a preference for diverse sources of financial guidance, including friends, family, and digital platforms like social media. They tend to plan finances in short timeframes and show interest in various account types, emphasising digital engagement.

In terms of workplace support, Gen Z desires a blend of tangible benefits, such as company stock plans and bonuses, alongside intangible benefits like work/life balance and psychological support.

The research suggests that employers adopt a holistic approach to compensation to effectively meet the needs of Gen Z workers.

This information is for scheme sponsors’, trustees’, their advisers’, and consultants’ use only and should not be relied upon by individual investors.

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