The Hidden Value of Social Security Disability Insurance: Why It’s Important During Benefits Enrollment
Of course, sometimes they just need a clearer picture of what those expectations look like—and often they center on soft skills and other information not taught in class. Remember, none of these suggestions are designed to insinuate that this generation is less tuned into reality—many of them have just never faced these types of situations.
Here are some tips you can share (gently) with new employees as they onboard to help make their transition smooth.
- They’ll need to master various forms of communication.
A little tutorial on communications methods and etiquette can be a smart idea. You should start by going over your social media and email security policies, and then talk about what types of communications are work-appropriate. Does your company encourage texting? Slack? Emojis? It’s not uncommon for this age group not to have used a landline much—house phones seem to be a thing of the past. So spending some time acquainting them with transferring calls or other tasks like that they need to be aware of is important.
- Work hours are standard.
Although many workplaces are embracing flexibility, it doesn’t meant that new employees can come and go as they please. They might be used to a bit more of a lax standard with their professors, and while many Gen Zers have been budding entrepreneurs, they might not have held a traditional “job.” It’s important to set expectations straight by covering the absence and tardiness policy—whatever yours happens to be—with them.
- They won’t be graded on every assignment, and they might have to ask for input.
Many students crave the reinforcement that came with receiving a grade on every paper they turned in and report they made. But the workplace isn’t always like that; although good managers give frequent feedback, often it’s not constantly top of mind, so it’s up to an employee to speak up and ask for advice or pointers.
- Their benefits are an important part of their compensation.
Most recent college grads have been on their parents’ benefit plans until now and might not realize how important it is to understand what benefits are offered and how they should take advantage of them. Many might be bewildered by the many options for healthcare plans, co-pays and the like so be sure to give them plenty of information to answer their questions.
It’s also wise to remind them that benefits account for roughly 30 percent of their compensation, so they don’t want to squander that.
- Gently remind them that their parents aren’t part of workplace decisions.
It seems hard to believe, but “helicopter parents” are definitely a thing, and some HR folks report that they don’t necessarily “land their aircraft” when their child reaches the work world. Some companies are embracing it with a “Take Your Parent To Work Day,” but in general your new employee’s parents shouldn’t be providing input. There’s hopefully no reason to have to bring this up, but it’s something to keep in mind if a new team member seems openly involved in speaking with their parents throughout the recruiting process.
- Let them know there are resources for different issues.
Explain why they want to take advantage of all benefits; for example few can expect to need disability insurance, and yet statistics show that more than a quarter of 20 year-olds will one day be out of work for more than a year due to a disability. Many of this generation are also facing mental health concerns—a growing problem on college campuses. The good news is that treatment and diagnosis is increasing; that means more students are seeking help and will need support in the workplace as well.
- Stress the importance of financial wellness.
Now is the time that Gen Z can set themselves up for a lifetime of positive financial decisions. Talk to them about the importance of saving for retirement—using the illustration of compounding interest. One scenario that’s sure to grab their attention explains that you can reach a $1 million retirement account with far less of your own savings the earlier you start. For example, if you start at age 20, you need only save $319 per month, an amount that roughly doubles to $613 if you wait until age 30 and then skyrockets to $2,831 per month if you wait until age 50. Financial author Ron Lieber calls a similar chart the one that “changed his life.”
Talking to them about making smart financial choices now as part of their benefits package can be a gift that keeps on giving.
As the workplace continues to evolve with several generations integrating, HR can play a role in helping the new kids on the block feel supported.
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