Every corner of the internet seems overfilled with articles about millennials, what they want, and how they tick. But millennials aren’t the youngest generation in your market anymore. In fact, younger people you assume are millennials might not be. The new generation on the block has been coined “Gen Z” for now – and they are expected to make up about 36 percent of workers in 2020.

As QZ points out in their article on Gen Z, the internet is filled with generalizations about generations that many times aren’t really helpful. But for brokers, it is clear there is a rising section of young workers that have different thoughts on their benefits, how they interact with the market, and how they want to interact. Here are a just a few things Gen Z’ers often care about, and what you can do to make sure you best meet their needs.

• Financial and Benefits Security: Gen Z grew up in the Great Recession and its aftermath. Most have seen their parents laid off and other family members struggle in the healthcare crisis. This can lead many Gen Z’ers to be skeptical and cynical of companies and concerned with finding quality health insurance. In fact, according to Concordia University’s Generation Z Infographic, 70% of Gen Z says health insurance is their top “must have” when looking for a job. Approaching Gen Z employees with transparency and a direct explanation of the benefits available to them can go a long way – and additional educational resources and handouts will help keep them informed and engaged year-round.
• Mental Health: After getting a job and being successful, Gen Z’s biggest concern is mental health. Mental health coverage through health insurance plans is important to them. If you’re an ancillary benefits broker and can’t offer them health insurance, you can still show you are committed to their overall health by giving them options for wellness programs that promote mental health and wellness.
• Technology: Gen Z is the first generation to have had access to modern technology their whole lives. On average, they use 5 different screens every day and spend 10 hours a day on electronic devices. A tech centered approach to benefits education and engagement is key. Give Gen Z options to access information about their benefits across screens, including texts, email, and video and web content. Keep communication direct, transparent, and to the point.
• Face-To-Face Communication: Concordia University’s Infographic on Gen Z also highlights that Gen Z places a lot of weight on face-to-face interaction, especially in the workplace. 40% of Gen Z wants daily interaction with their supervisor – and this can mean a lot for brokers at open enrollment. While you can’t be on-site for your clients every day, maintaining a strong presence at open enrollment, and creating time to answer employee questions one-on-one when needed can help Gen Z employees be engaged with their benefits -and contribute to a strong open enrollment.

Just like Millennials, Baby Boomers, and every other generation, the term “Gen Z” is just a generalization. Every person who falls under the blanket of Gen Z is different and will have different wants, desires, and needs. But keeping in mind the larger trends in Gen Z can still be helpful for brokers as you look to find plans that best fit younger employer groups and create open enrollment initiatives. It’s also important to know the tools you'll need to enhance your HR client support to best serve your clients. Download our free e-book below!