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Waterfall news

Employee benefits for a

MuLTi-gEnERATiOnAL

WORkFORCE

By Gerhardt Meyer, CFP® and Head of Technical Support at PSG Wealth
T oday’s workforce is incredibly BEnEFiTS FOR diFFEREnT

diverse – especially when it
gEnERATiOnS
comes to age. As an employer,
you may have employees Let’s have a closer look at the
different generations* within a

ranging from the ages of 19 to 59+. typical work environment:
From Generation Z to the Baby Boomers, • Generation Z (born in 1996 and after)
we are seeing younger generations – these employees are generally
enter the workplace while older starting their careers. They are either
individuals are opting to work for longer. in their first job or have job-hopped

within a short space of time. For this
Employers are often faced with generation, it is crucial to communicate
managing a multi-generational the importance of preserving their
workforce, and they all want and need employee benefits, especially if

different benefits. Determining suitable they will be moving from job to job,

solutions can help them invest in their so they can reap the rewards from
future and may aid future generations compounding their savings over time.
too. The added advantage for employers • Millennials (or Generation Y, born

is that offering quality benefits enables between 1977 and 1995) are generally
your business to attract and retain
top talent, no matter what their age.

While this may sound like an
overwhelming (and expensive)
undertaking, most employers
understand that having a contented
staff complement is essential, and

part of achieving this involves
providing adequate employee
benefits. By doing this, it is possible

to meet both your company’s goals
and your employees’ needs.

18 Waterfall Issue 11 2020