How to engage your Gen Z employees in pensions planning

While Generation Z (born between 1997 and 2012) may not yet have pensions top of their mind, they’re at the ideal age for employers to engage them in building a secure financial future.

By implementing a strategy that leverages digital tools and clear communication, employers can empower younger employees to make informed decisions about their retirement savings, supporting their long-term financial wellbeing. 

So how can you inspire Gen Z to take an interest in saving for their retirement? We look at five key strategies below. 

Speak their language

Ditch the complicated jargon and use clear, concise language when communicating with younger employees. Pensions and savings can be an overwhelming topic with lots of complex financial information, especially for this audience - but if you communicate the benefits in a way they’re more likely to understand, they’ll be much more likely to engage with it. 

Go digital

Tailoring communications also means using the most appropriate channels. With apps and social media generally being the preferred channel for people of this age, it's a great way to capture their interest.

What’s more, digital platforms enable you to measure the success of campaigns through online data – monitoring and tracking the performance of emails for example can help drive your decision-making. 

You could also consider bite-size explainer videos that break down how pensions work and why they matter, or share stories that they can relate to, rather than long documents with lots of complication details.

Make it fun 

Creating a buzz around pensions and savings is a great way to boost engagement. It can also help dispel any myths they may have around financial planning being ‘boring’. 

Look into websites and online portals with an interactive element that allow individuals to set goals and track progress around financial planning - this provides a sense of achievement and motivates people to take action when it comes to saving. 

Appeal to their values

Gen Z demonstrate a strong focus on sustainability and purpose-driven choices. As they're more likely to opt for sustainable products and services, try and integrate benefits around savings and pensions around this. 

Remember, people want to see short-term benefits. So by offering a range of environmental incentives when people contribute to their pension - such as tree/coral reef planting -  they can see the positive impact they’re making today through their long-term savings.

Make it relatable

Online platforms can help bring workplace wellbeing and rewards to life. Show your Gen Z employees stories of people they can relate to and the actions they’re taking for a more financially stable future – this will demonstrate how small contributions now can lead to long-term gains.

Use financial modelling tools to enable them to show the impact paying in earlier or contributing a little extra can have. 

Next steps

Don’t forget to regularly check how communications are landing through short surveys – this will allow you to get real feedback and insight into what’s working well and where you might need to tweak and adapt your plans.

If you’d like to know more about how to engage Gen Z employees in pensions and savings, at DrumRoll we can help you design and deliver innovative solutions to enhance employee benefits communication and engagement.