How does a company cater for all employee age groups when it comes to benefits?

For young employees:

As we have covered in other blogs, talent acquisition has become a problem during the pandemic and hybrid / remote work has now become part of the norm when it comes to work practices. Offering a generous total reward and benefits package that includes simple things such as gym membership, insurance, and retail discounts are key when attracting the younger generation of employees.

For older employees:

The same total rewards and benefits should be available to the older generation of workers but with one exception: when it comes to thinking about retirement. According to credit management company, Lowell, 17% of British employees are delaying their retirement by at least 5 years due to debt, with a further 12% thinking about making it at least 10 years. In the USA, a recent survey stated that 30% of people over 65 said they expect to postpone their retirement by 3 years. The survey went on to say that “these delayed retirements are negatively affecting workers and business.”

Catering for a broad spectrum of employee ages is crucial

In a previous blog, we advised how benefits are key for employee retention, but we also highlighted how important it is to support all workers when it comes to their financial wellbeing, especially in times of high inflation. For young employees, a health and wellness contribution could really make a difference to them, but what about older employees?



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