What Gen Z’s financial priorities could mean for the future of workplace retirement savings and benefits

Key points

• Helping Gen Z employees build financial confidence starts with connecting workplace benefits to the goals that matter to them. From managing everyday expenses to saving for retirement, these employees are balancing immediate needs with long-term ambitions — and looking to employers for support without giving up control of their decisions.
• For employers, understanding Gen Z’s financial priorities offers an opportunity to make employee benefits and financial-wellness resources easier to navigate.

This article explores how connected benefits, clear education and a blend of digital tools and human guidance can help turn financial ambition into informed action.

Gen Z is ambitious about its financial future, despite competing priorities

Gen Z is trying to manage today’s expenses while simultaneously pursuing financial independence and longer-term wealth-building. 89% say financial independence is a top life goal, and 81% say investing is important to the future they want, yet only 47% feel confident making investment decisions.¹

Employer takeaway: The issue isn’t a lack of motivation. It’s helping employees translate motivation into confident financial decisions.

Gen Z employees want employers to help, but they also want to retain control

• 88% say benefits and financial support matter in addition to salary¹
• 87% want help understanding their workplace benefits¹
• 69% want guidance while retaining control¹

The top three areas where Gen Z wants employer support are saving for retirement (34%), learning how to invest (33%) and understanding workplace benefits (31%).¹

Employer takeaway: Employers don’t necessarily need to make financial decisions for employees. They can help make those decisions easier to understand and act on.

The right support could help drive greater benefits engagement

When support meets their needs, Gen Z respondents say they would be likely to:¹

• 90%: make more informed benefits decisions
• 89%: use more workplace benefits
• 89%: feel more positive about their employer
• 89%: build emergency savings
• 88%: increase retirement savings
• 87%: feel more confident about their financial future

Think beyond retirement savings as a standalone benefit

Gen Z’s financial priorities span immediate expenses, emergency savings, investing and retirement. Many employers appear to be responding by integrating those needs. 83% of employers report that retirement, healthcare and financial-wellness benefits are fully or somewhat integrated. ²

Retirement plans are evolving as well:

• 42% are integrating financial wellness programs²
• 39% are enhancing tools for different employee segments²
• 39% are aligning retirement benefits with healthcare and other needs²

Employer takeaway: The opportunity is increasingly to create a connected benefits experience, rather than expecting employees to navigate retirement, healthcare and financial wellness in separate silos.

AI can help personalize benefits, but shouldn't replace human guidance

43% of employers are actively considering AI-powered personalization or analytics.^2,3 At the same time, Gen Z’s attitudes suggest limits to a digital-only approach.

• 51% would use AI to learn about finance or investing, but 71% want a person involved before making a high-stakes decision.

Employer takeaway: Use AI to simplify, personalize and educate, while keeping human guidance available for important financial decisions.

Five employer actions to engage Gen Z employees

1. Make starting feel achievable: provide simple first steps and progress milestones.
2. Personalize without taking control: recommend actions while preserving employee choice.
3. Blend digital and human support: provide digital education plus access to people for key decisions.
4. Connect benefits to broader goals: link benefits to financial independence and wealth-building.
5. Earn trust through clarity: use plain language and transparent recommendations.

Ready to engage the next generation of plan participants?

Talk to Voya about building a workplace financial wellness strategy that meets Gen Z where they are — with the tools they value and the human guidance they want.

Explore Our Workplace Offering