Shaping Tomorrow: A Gen-Z Perspective on Multigenerational Workforces and Total Rewards Strategy in 2024

Shaping Tomorrow: A Gen-Z Perspective on Multigenerational Workforces and Total Rewards Strategy in 2024

In 2024, your journey as an HR professional is marked by the pursuit of strategies that truly resonate with your diverse workforce. I wanted to take a deeper dive into what you can do to make an impact in 2024 drawing insights from Gartner's HR Benchmarking Report and taking a Gen-Z perspective. Through this article we will explore actionable strategies aimed at meeting the unique needs of your multigenerational teams for a better culture. 

Let's reimagine your approach to total rewards by embracing a holistic lens. When we look at total rewards it can feel transactional. Gen-Z and millennials, known for authenticity detectors, can gauge whether the shifts are more about completing a transactional checklist or genuinely rooted in a desire to create a better workplace. We value sincerity and, we seek organizations with genuine intentions, not just surface-level changes.

Transactional Pitfalls: Insights and Reflective Questions

  • Generic Recognition Programs:
    • Transactional: When recognition programs are one-size-fits-all and lack personalization, they can feel more like obligatory gestures than sincere acknowledgments.
    • Insight: We appreciate recognition that goes beyond the generic—personalized acknowledgments that reflect our unique contributions make us feel truly valued.
    • Question: How can we tailor recognition to each team member's unique contributions?
  • Minimal Work-Life Flexibility:
    • Transactional: Offering rigid work hours without flexibility can convey a transactional mindset—viewing employee time purely as a resource to be utilized.
    • Insight: We value work-life balance and flexible schedules; organizations that prioritize these considerations demonstrate a genuine commitment to our well-being.
    • Question: How can we provide more flexibility to support our team's work-life balance?
  • Limited Learning and Development Opportunities:
    • Transactional: When learning and development initiatives are scarce, it may suggest an approach that views employee growth as a transactional investment rather than a long-term commitment.
    • Insight: Continuous learning is vital to us; organizations that invest in our development showcase a commitment beyond transactions, fostering loyalty and engagement.
    • Question: How can we invest more in continuous learning to empower our employees?
  • Cookie-Cutter Benefit Packages:
    • Transactional: Providing standardized benefit packages without considering diverse needs can create a transactional perception—treating employees as a uniform group rather than individuals.
    • Insight: Tailored benefits that address diverse needs and lifestyles signal an organization's genuine interest in the well-being of its employees.
    • Question:  How can we diversify benefits to meet the varied needs of our team?
  • Underprepared Performance Appraisals:
    • Transactional: Conducting routine, formulaic performance appraisals without meaningful feedback can make the process feel transactional and detached.
    • Insight: We thrive on constructive feedback and meaningful conversations about our performance, contributing to a sense of growth and purpose.
    • Question: How can we make performance appraisals more meaningful and growth-oriented?
  • Outdated Mental Health Initiatives:
    • Transactional: When mental health initiatives are superficial or lack substance, they can be perceived as mere token gestures rather than genuine efforts to prioritize employees' well-being.
    • Insight: Authentic mental health support, such as identity-focused counseling services, stress management programs, mindfulness tools, diverse keynote speakers on relevant topics, and a stigma-free environment, reflects a commitment to our holistic well-being and fosters a workplace culture that genuinely cares.
    • Question:  How can we genuinely prioritize mental health, creating a supportive environment?

The takeaway here is that it’s less about checking a box and more about fostering employee well-being, continual development, and creating an environment where every individual feels valued and supported.

The report also found that, “56% of organizations are planning to expand benefits tailored to the unique needs of various generations.” This statistic urges you to align your strategies with the diverse expectations of each generation within your teams.

FeelSwell Experiences, rooted in a Gen-Z and Millennial perspective, emphasizes the need for human-first strategies. Through workshops, mindful leadership programs, wellness off-sites, and purposeful team-building, we've seen the impact of prioritizing employee well-being. We provide these steps toward a workplace that adapts and thrives to change that is happening. 

Are you in an HR role at your organization? Let's Connect!

If you're passionate about transforming your workplace into a hub of well-being, our team at FeelSwell is here to guide you. Book a personalized session with us to explore tailored strategies that resonate with your organization's unique culture. Together, let's create a workplace where well-being isn't just a priority; it's a way of life.

At FeelSwell Experiences, We Believe:

🌟 In Holistic Leadership: Our programs go beyond traditional leadership development, integrating wellness strategies for resilient and high-performing teams.

🤝 In Tailored Experiences: Every workshop is crafted to align with the unique goals and vision of your leadership team, ensuring a bespoke and impactful journey.

💼 In Nurturing Workplace Well-Being: We are committed to reshaping the corporate landscape by fostering well-being at its core, recognizing its pivotal role in organizational success.

🌐 In the Future of Work: With an eye on 2024 and beyond, we navigate the evolving professional landscape, equipping teams with essential skills for the workplace of tomorrow.

🤔 In Conversations for Change: Starting from the C-suite to middle managers and every individual, we believe that well-being conversations are the catalysts for transformative change.

🤲 In the Power of Connection: FeelSwell is more than a program; it's a community. We believe in building connections that support individuals on their journey to thriving personally and professionally.

Book a call here!

About the Author: Keely - Catalyst for Change

Keely is a renowned somatic therapist, mental health advocate, and a sought-after expert in sustainable success through mindset, wellness, relationships, and impact. She has had the privilege of working with thousands of diverse professionals, leaders, business owners, conferences, organizations, and colleges globally as they pursue success while incorporating mental well-being into their lives.

Having departed from a corporate role as a Gen Z employee, Keely brings a unique perspective to the challenges faced by highly driven individuals in the professional realm. With appearances on the TODAY show, numerous podcasts, and media outlets, she provides an "insider's edge" into the distinctive intersection of success and well-being.

Keely's insights not only enhance the overall well-being of her clients but also drive transformative change within organizations. Currently residing in San Diego, California, she shares her life and business journey with her partner, Dani, and their dachshund, Max. Join Keely as she shares valuable insights on navigating the evolving landscape of well-being in the corporate world.

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