From pet insurance to GIFs: How companies are adapting to attract and retain Gen Z employees

The purpose is to rent and retain the very best expertise amongst GenZ, the youngest cohort of staff born between 1997 and 2012, mentioned HR heads in firms like Myntra and RPG Group, and consultants at Aon and Bajaj Allianz Basic Insurance coverage.

“Gen Z has begun becoming a member of the workforce, particularly these born between 2000 and 2004,” Myntra’s chief human assets officer Govindraj MK instructed ET.

Gen Z staff at present comprise almost 35% of Myntra’s workforce, and the determine is just prone to enhance, reaching as a lot as 50% within the coming years, he mentioned.

To have interaction with Gen Z successfully, Myntra has tweaked its communication technique with shorter emails, and extra informal periods, and many others. “As an alternative, we use GIFs and pictorial messages to speak key updates,” mentioned Govindraj.

Amongst its newest measures for Gen Z, the web style retailer lately launched insurance coverage for pets. “Now we have had the Pet Adoption Depart coverage for a while now and now…pet insurance coverage. We recognise that Gen Z and Millennials typically prioritise pet wellbeing,” he mentioned.To draw Gen Z expertise, fast commerce platform Swiggy rolled out initiatives round pets whereby an worker can report a lacking pet immediately on the Swiggy app. It additionally provides leaves and do business from home to new pet dad and mom.Insurance coverage supplier Bajaj Allianz Basic Insurance coverage is seeing an increase in firms all for extending pet insurance coverage to staff.

“Now we have seen a big uptick in enquiries,” mentioned Amarnath Saxena, chief technical officer, industrial, Bajaj Allianz.

Larger Flexibility
Enquiries are primarily from startups, e-commerce, food-tech and market firms, mentioned Saxena. “The adoption of pet insurance coverage is anticipated to develop additional.”

In 2023, RPG Group carried out a multi-city in-depth analysis examine to grasp the motivational elements and aspirations of Gen Z. On the time, the conglomerate realised that Gen Z prioritised flexibility on the office. Because of this, final September, RPG Group launched Develop@RPG, an AI-powered profession mobility programme that permits staff to discover inner gigs and cross-functional roles.

“We’re one of many few brick and mortar companies which permits nearly each worker to work remotely and flexibly for a big a part of their work week or month,” mentioned Supratik Bhattacharyya, chief expertise officer, RPG Group.

Based on Aon analysis, many firms are seeing Gen Z staff make up the majority of their worker base because of which they’re bringing in additional flexibility at work. “Our analysis exhibits Gen Z worth flexible work policies, day off, potential to do business from home, various profession paths and different roles early of their careers and an enormous urge for food to upskill, whereas attempting to advertise inclusion, fairness and wellbeing,” mentioned Roopank Chaudhary, accomplice & head of knowledge options for Human Capital, India at Aon.

Many companies are introducing flexibility in work schedules. “This can permit Gen Z staff to handle their work life stability and pursue their passions together with their job,” mentioned Chaudhary. Some companies even have insurance policies like limitless sick go away and ‘well-being days’ to stop burnouts.