Over the past few years, organizations have navigated one workplace shift after another, from remote and hybrid working models to artificial intelligence and more. Now, companies are tasked with yet another pivotal change – a shift in the generational makeup of the workforce. While millennials and Gen X maintain their strong foothold in the workplace, Gen Z is positioned to overtake baby boomers this year. Employers are tasked with supporting a multigenerational workforce experiencing different life moments where they expect employer-provided resources to offer support.

As age diversity grows more pronounced in the workforce, expectations around workplace benefits appear to be rising in parallel. MetLife data shows that employees want more benefits support – the average number of benefits employees consider to be a "must-have" increased from 7.8 in 2022 to 8.3 in 2023. Not only this, but employee benefit satisfaction has reached a ten-year low.

To keep pace with rising expectations across today's multigenerational workforce, employers must consider generational nuances not only when creating benefit strategies, but also in driving benefits understanding and utilization. Here are three key ways that companies can evolve their approach to benefits to address the multigenerational needs of today's workforce and improve employee satisfaction.