Today, sustainability matters are already high on the list for organizations everywhere and are only becoming more important with every passing day. Younger generations, including Generation Z, are attracted to organizations guided by clear values and those contributing to a better world.
For our Gen Z e-book, we conducted a study of Generation Z together with marketing research company Kantar Sifo. Among our many findings, we found that companies that are perceived as equal opportunity employers and environmentally responsible are attractive to Generation Z. In fact, one in four young females and one in five young males say they would consider working for an employer they would otherwise not have been interested in if the company is seen as environmentally friendly.
Three out of ten survey participants even said they would decide against working for an employer they are interested in if that employer had a negative impact on the environment.
How can organizations meet their employees' needs and ensure they are seen as equal opportunity employers and environmentally responsible?
Generation Z Demand Greener Benefits
An organization's benefits offering can play an important role in an employee’s sustainability efforts and attracting new talent. Our survey reveals that 54% of females say that climate compensation benefits are very important to them.
Today, an organization's ability to address each generation by personalizing its benefits offering is crucial. So, how do employers do that? By catering to the needs of different demographics. This can be achieved by giving each employee the flexibility to choose their own benefits.
Giving Employees the Freedom of Choice
An employer-sponsored flexible benefits scheme or flexible benefits budget made available through an employee benefits platform allows employers to assemble a variety of pre-tax offerings from which employees can then choose from to create their own customized benefits package.
Allowing employees to choose their own benefits directly from their employee benefits platform results in greater benefits usage and benefits satisfaction and demonstrates that you, as an employer, know, understand, and support your employees' values.
Benify’s New ECO Label Benefits
In Sweden, where many organizations offer their employees benefits provided by various suppliers through the Benify platform, employees can now find a large number of employee benefits marked with an ECO label. This means when employees are browsing their benefits selection in the platform, they can easily identify and choose greener, more sustainable benefits in the platform. To be classified as a greener benefit, the benefits with the ECO label must meet Benify's conditions and requirements. This means suppliers that have established a strong sustainable brand in the market, or ones that can clearly be identified as sustainable compared to other suppliers offering similar services or products.
By offering greener benefits, employees can make smarter, eco-friendly choices aligned with their values. It also helps companies strengthen their employer brand and attract talent.
Examples of ECO label benefits that can be found in the platform include:
- Various sustainable mobility choices, including bicycles and public transport
- Carpooling, including electric cars
- Climate compensation benefits
- Home cleaning benefits using environmentally friendly products
- Grocery delivery services offering local and organic produce
As a provider of employee benefit services, Benify has a great responsibility to help its clients offer sustainable benefits to their employees, which in turn have a positive impact on their lives and overall well-being. We also have a responsibility to our internal and external stakeholders to be environmentally, socially, and financially responsible in our daily operations.
“Being a sustainable and responsible member of society is vital for us as a company. We believe that working more closely with sustainability can help us create both a better work culture for our employees and positively impact our clients and society at large.” – Jesper Johansson, Sustainability Manager, Benify