Good morning!
Managing employees across a four-generation workforce is no easy task, and doing so forces HR leaders to create policies for people with vastly different priorities and perspectives. But when it comes to benefits, a study found that people of all ages agree on what they value most: flexibility.
Alternative work schedules, like four-day work weeks, ranked number one on the list of most important benefits by every generation, according to a new study from Mercer Marsh Benefits, a benefits consultancy, which surveyed 18,384 employees. Millennials prioritized flexible work the most (53%), followed by Gen Z (48%), Gen X (47%), and Boomers (43%).
And while 49% of workers said that flexible work would be helpful to them or their families, only 32% of employees say their companies allow them to adjust the hours or days they work. That means regardless of age, all workers want the autonomy to manage their day-to-day activities
This isn’t all too surprising, as many organizations have been attempting to get people back into the office over the past few years. And some are even choosing to implement hard-line return-to-office mandates. But alternative work schedules also makes it easier for employees to take advantage of the other benefits a company offers, the study points out. This includes the ability to take time off to go to medical appointments or therapy.
The second highest-ranking benefit remains the same for three out of the four generations. Gen Z, Millennials, and Gen X all want the ability to work remotely. Boomers, not surprisingly, ranked flexible options in terms of retirement as their second most valued benefit option. That includes the ability to gradually work fewer hours, modify their job responsibilities, and designate time to transfer knowledge to other generations.
From there, benefit priorities vary a bit across age groups. Younger workers like Gen Z want mental health screenings and coverage for doctor visits, Millennials want upskilling opportunities, Gen X is looking towards retirement, and Boomers are focused on preventative care like cancer screenings.
So while it may seem difficult for HR leaders to figure out how to tailor their benefits across generations, it’s helpful to remember that the need for work-life balance isn’t going anywhere, and that allowing employees a little bit of autonomy over how they run their lives can go a long way.
Brit Morse
brit.morse@fortune.com
CHRO Daily is off Monday, May 26 for the Memorial Day holiday. We’ll be back in your inboxes Tuesday, May 27.
