Insights: Supporting healthcare needs of a multi-generational workforce

In today’s fast-paced business landscape, diversity and inclusion have taken centre stage in corporate agendas. Businesses now understand that a thriving and fair workplace means embracing the unique backgrounds of all employees. However, one frequently overlooked aspect of diversity is age – something that’s going to affect us all.

People worldwide are living much longer thanks to modern sanitation and medical advancements, with global life expectancy rising exponentially in the last 70 years.

Coupled with declining birth rates in many countries, the world’s senior population is growing at a significant rate with the percentage of individuals over the age of 60 projected to double from 12  to 22 per cent by 2050. This demographic evolution is just one of the reasons we are seeing a more age-diverse workforce.

For the first time in history, we are seeing up to five different generations co-existing in the same workplace, each bringing a unique set of experiences, skills and perspectives.

Research has consistently shown us that diverse and inclusive workplaces can yield more productive, innovative and financially successful businesses. According to one of our recent surveys, age diversity and inclusion play a crucial role in fostering creativity, innovation and an overall happier work environment within UAE organisations.

This belief resonates strongly across the local workforce, with a solid 70 per cent of senior leaders and 65 per cent of mid- to junior-level employees recognising its positive impact.

A mosaic of generations

The contemporary workforce in the UAE comprises a rare blend of Baby Boomers, Gen X, Millennials, Gen Z and even members of the Silent Generation (those born between 1925 and 1945). All five generations are contributing their unique experiences, perspectives, values and expectations, which can help to enrich the culture and dynamics of the workplace.

Creating a more inclusive workplace requires an understanding of how these different generations shape and contribute to the work environment. Equally important is recognising the varying healthcare needs of these diverse generations, as it directly affects their personal and professional lives.

Healthcare and wellness needs of different generations

Given the increasing potential for individuals to enjoy longer lifespans, the awareness of unique healthcare needs across different generations has never been more important.

Baby Boomers, who bring an invaluable wealth of experience to the workplace, are far more at risk of health issues than other generations.

Gen Xers, balancing between Baby Boomers and Millennials, often serve as caregivers for both their ageing parents and young children, requiring sufficient support for their wellbeing. Gen Xers are increasingly experiencing work-related stress and burnout, highlighting the significance of a supportive work environment. Meanwhile Millennials, on track to becoming the largest generation in the global workforce, seek a healthy work-life balance and support for their mental health.

If that wasn’t enough for employers to recognise and address the diverse needs of different generations, then notably, 35 per cent of younger employees aged 25-34 prioritise mental health more than anything else.

Gen Z, the youngest and most tech-savvy generation in the workforce, expects flexible and accessible healthcare benefits. They are also vocal about their needs and expectations.

Half of Gen Z respondents place the highest importance on healthcare benefits when changing jobs.

What this means for UAE employers

In essence, the vast range of healthcare needs calls for a more inclusive and flexible approach to healthcare coverage in the workplace. A one-size-fits-all approach will not be enough.  Today’s diverse workforce demands comprehensive healthcare coverage that’s adapted at every stage in life.

Interestingly, 75 per cent of UAE employees desire more control in tailoring their health insurance coverage to their situations, indicating a preference for personalised healthcare packages. It’s clear that employees want autonomy over their healthcare choices, and businesses that respond to this need are likely to succeed.

As generations collaborate in the workplace, fusing a mix of experiences and talents, recognising and embracing age diversity is not just a matter of equality, it’s a strategic necessity for a thriving workplace.

The writer is general manager of Bupa Global Middle East and Asia.