Addressing the Demands of a New Generation in the Workplace

By: Avi Raj-Silverman | July 2024

In the aftermath of COVID-19, the word “health” has taken on a broader meaning. Employers are now reevaluating their benefits packages to address holistic aspects of health, including physical, mental, and financial well-being. A focus on overall wellness is becoming increasingly prevalent as Gen Z, a group with unique wellness needs, makes up a larger portion of the workforce. Seventy-five percent of the working generation is advocating for a stronger focus on workplace benefits, as reported in Calm’s 2024 Voice of the Workplace Report.

The need for mental health benefits is felt most acutely within Gen Z. Three quarters of the generation report feeling depressed and 90% of them regularly feel anxious or stressed. Statistics like these highlight how the needs of younger generations go beyond standard mental health solutions.  Financial insecurity, loneliness, and a lack of comprehensive care for women are three significant external sources of mental health struggles for Gen Z. While anxiety and depression can stem from a variety of factors, most employees feel anxious about their finances and are looking for a side-hustle, Gen Z are the loneliest generation, and a vast majority of women say that family planning challenges affect their mental health and ability to be productive at work.

Employers understand the possible advantages to be gained in recruitment, retention, and productivity by supporting the needs of their young employees, but the employee benefits marketplace is complex and fragmented. Bundles that include the additional benefits employees are looking for exist, but the breadth of potential options is driving fatigue from both vendors and employers as it becomes increasingly difficult to make the right choice. Vendors need to develop bundles that are both comprehensive and affordable, as employers cannot justify paying the exorbitant price of a bundle that includes unnecessary point solutions.

The combination of the importance of employee mental health benefits and the complexity of this problem calls for help from a source with expertise. This is an area in which Archetype can support organizations by building more comprehensive solutions for vendors, evaluating current portfolios, and making suggestions to elevate offerings to meet the needs of a changing workforce. To learn how reach out hello@archetypegrowth.com.

** Avi is a Summer Intern at Archetype. He is a rising senior at Haverford College, pursuing a degree in Economics with a concentration in Mathematical Economics and has a passion for holistic well-being**