A BUSINESS process outsourcing firm has called on employers to modify their rewards and benefits based on the needs of employees as a survey has shown that Gen Z and millennials are prioritizing work-life balance.
“In these changing times, we should be deliberate about giving team members the support they need and allowing them to have a rewarding journey,” TELUS International Philippines Vice-President and Country Manager Anne Muñoz said in a statement on Monday.
Her stand comes as a recent survey by Deloitte says the top priorities for Gen Z and millennial respondents in choosing an employer are a good work-life balance and opportunities for learning and development.
“Having meaningful rewards is one part of the equation to engage Gen Z and millennial team members. These must also come with a work culture that emphasizes purpose and allows each team member to see the value of their contributions toward the overall goal of the organization,” Ms. Muñoz said.
The Deloitte survey has also shown that the cost of living is the top concern among Gen Z and millennials who say they will be less anxious about their financial situation if employers offer financial wellness benefits.
In response, TELUS International Philippines has improved its monthly mobile load benefits, added nontaxable medical allowances, and increased the nontaxable allowances for rice subsidies and uniforms.
“We have set our sights on helping our team members achieve financial security through TIP S.A.F.E., a retirement benefits fund and savings program that enables our team members to allot a certain amount from their salary to be placed in an account that earns interest,” Ms. Muñoz said.
TELUS International Philippines also increased the number of paid time off conversions, as well as upgraded its site clinics by ensuring hospital-quality consultation wherein team members could get certificates and recommendations for lab work from health maintenance organization (HMO)-accredited doctors onsite.
“We encourage our team members to avail of our free teleconsultation services to help address their issues on health, family counseling, trauma counseling, or financial and legal counseling. All our team members have had access to our HMO plans since their first day,” Ms. Muñoz said.
“In addition to extending health benefits to family members, we have been providing degree and certificate courses to our team members and their loved ones through TELUS International University (TIU), with a significant discount of 50-80% on tuition fees,” she added.
Ms. Muñoz said there should also be efforts to boost employee benefits to keep the young workforce satisfied, citing a survey by YPulse showing that games, co-working spaces, and team activities are some of the things Gen Z and millennials look for in the workplace.
“We’ve gone above and beyond by creating highly engaging themed meeting rooms and game rooms that inspire creativity, allowing our team members to do their best work while enjoying the things they love doing. We also have various special interest groups where they can bond over different interests,” Ms. Muñoz said.
TELUS International Philippines has seven sites across Metro Manila and two sites in Iloilo. It is a leading Philippines-based provider of digitally enabled customer experience and business process solutions. — Revin Mikhael D. Ochave
